“With due respect to the Morpheus guys but I have never seen a single post from any of the ex-morpheus companies detailing how it helped (or not helped them). Because of this I just dont know what value they bring to table” – sushrutbidwai
“I was just thinking that we should get some Morpheus guys to post a short testimony here. You know, as we are the Indian Entrepreneur Community, they must be interested” – rick_2047
These are 2 comments on a recent post – “Morpheus’s Batch 6 – Startup Acceleration Program Application is now open!”, on Hackerstreet.
Yes, that’s a fair enough argument. So this is me, Shashank ND from Practo.com, Morpheus Batch 3 (July 2009) sharing my thoughts on how we are benefiting from being part of the Morpheus Portfolio Companies :1. Got us focused on the most important things from Day 1, didn’t allow us to divert our attention, focus. This alone saved the company.
2. In the initial stages it was great to be pushed as hard as we were by Morpheus, it was great to be held accountable / answerable
3. They added few very good practices, which we continue using in the company even after 1.5 years
4. The initial momentum they added was awesome and critical
5. They added credibility to the company which was especially important for a B2B product and a very young team such as ours
6. Great set of portfolio companies (gang), comprises of companies/entrepreneurs we look up to. Learnt a lot from the gang.
7. Was introduced/met with 4-5 VC’s thanks to Morpheus efforts
8. Since Morpheus took care of meeting VC’s and updating them about their portfolio companies, we got to continue uninterrupted on building our business
9. Been invited to number of forums, events as speaker thanks to our association with Morpheus
10. One of the most honest, transparent, energetic people I have come across so far
My advice to the young entrepreneurs :
1. Stop worrying about equity. You dont build a big company by having the most equity, you build it by getting the right team, advisors, investors and building value/money. So stop worrying and holding on to equity, start worrying on how you will get to become a big company. Do whatever it takes to become big.
2. Your responsibility as entrepreneurs is to build a successful company. This is a long (7-10 years), hard (1% success rate) & lonely battle, it is absolutely critical to find able & willing shoulders to share this burden with.
According to me, Morpheus is playing an important role in building the young Indian Startup Ecosystem – teaching, mentoring, connecting young startups and saving a few from dying / or going into oblivion. They passionately put in lots of effort, little money & time into their portfolio companies and the entire Indian Startup Ecosystem. We need more of such people and organisations, as I believe they are a critical part of any Startup Ecosystem. Just ask Phani from RedBus.in about the importance of mentorship and you will know where I am coming from.
If anyone needs any more details about Morpheus or their Startup Acceleration Program, you can get in touch with me at shashank[at]naabo[dot]com