Tag Archives: self-sufficiency

Know when to give up support

Alok Kejriwal, CEO, contests2win.com

Our start-up was in its second year when the dotcom bubble burst in 2001. I decided to ask our venture capitalists, ICICI Ventures, for more funds. Renuka Ramnath, the CEO of ICICI Ventures, patiently heard me out.
When I was done, she said something that changed the way I thought about business. She said that at some stage, every child has to learn to walk on its own. At first, it may stumble, fall and hurt itself. But it learns an important lesson—self-sufficiency.

With that, Ramnath refused to finance us any more. But her words inspired me to look for finance the way real businesses do. From then on we not only became profitable but also created three new companies.

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