AUGUST 202419INDUSTRY INSIGHTSIn an exclusive interview with Industry Outlook magazine, Roopak Gupta, Founder of mTap Corporation, shares his insights on how numerous external factors influence the success and scalability of a startup and offers pointers to what founders can do from their end to maintain a good relationship with their investors. He is a seasoned entrepreneur and leader with a proven track record in building successful ventures and driving business growth. With a focus on making networking efficient, effective, and collaborative, he founded mTap Corporation in 2022. Under his leadership, mTap has emerged as a critical player in the field, utilizing his leadership, entrepreneurship, and digital marketing skills to establish a strong presence.OVERCOMING THE HURDLES OF SCALING A STARTUPAccording to numerous studies, 80percent of startups fail in India. What is your take on this?Startups by definition are supposed to solve an existing problem when there is no existing solution. At their onset, they are bound to fail. Sometimes what they think is a problem might not be a problem at all. But most startups fail because they are not able to find a customer base which fits their product. It may be a great idea accompanied by a great product, but it fails if the customer cannot use the said product to solve their problem, or maybe the problem isn't scalable.The second failure factor is not building a capable team that can lead to success. For example, one can be good at coding, marketing, or whatever they specialize in, but this team has to be persistent. At the same time, they have to be nimble when pivoting to their initial idea. Most of the team dynamics that are not allowing them to pivot to that very idea of what the customer feedback is coming from are also major causes of the problem. The team dynamics have to be good for a long period of time. The initial phase is a struggle phase. There is no capital, and it is only the idea. 60+ work hours weekly is common. There is no family time. The social fabric is very fragile, which drives people to pessimism and to the edge of quitting. The social dynamics are also a contributing factor.The third major factor which I personally believe is money. The common train of thought is money is the first and foremost factor, but you can only get the money if you have a solid idea and a product which is practical and a strong team to back it up, only then will you get the funding. A lot of startups fail on the funding side and then fewer are going to fail on the scaling phase of the startup.What role do accelerators and incubators play in the startup ecosystem, and how do they impact the scaling journey of a startup?Accelerators help you scale, while incubators take a raw idea and help the entrepreneur structure it. One of the biggest mistakes startup founders make is not getting their message across clearly. Can people read your message? Understand what you are doing before they are willing to sign up. Are Roopak Naresh GuptaCEOBy Roopak Naresh Gupta, CEO, mTap Technologies
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