KANNUR: Startups outsourcing technology is like outsourcing sex in a marriage, quipped Rediff.com founder Ajit Balakrishnan. Technology is what makes the product or service a different or better, he told students of the Business Incubation Centre (BIC) of Kannur University on its Thalassery campus on Tuesday. Delivering a talk on ‘top three mistakes an entrepreneur must avoid’ during the annual start-up meet, he said pursuing small and non-existing market is one mistake a budding entrepreneur should avoid. Previous work experience in the market or a firm may mislead him on the market he is entering.
In a joint start-up company, he said, it would be better to have the founders from different backgrounds. “A founding team needs a diverse mix of experiences. They should have the capability to excel in technology, operations, sales and marketing. Eighty percent of the startup failures are because the founders don’t have full skills,” he added. Over 100 young entrepreneurs attended the talk and the interaction session with him. Pro vice-chancellor Dr T. Asokan inaugurated the programme. Entrepreneurship coordinator Dr U. Faisal was present.
