An Offshore Start up
- Monday, January 11, 2010, 9:59
“Endure the failures that are the steps to Success” with this magical mantra of the success comes a startup to India. The team lead by Sid Prasanna is the Entrepreneurial story of the month. TF brings you Akros TechLabs as the startup story of the month. In an interview with Sid Prasanna we find their journey from the US to the Indian Shores to make it big in the world of Entrepreneurship.
Q What was your primary motivation for starting a company?
The primary motivation for the team, to start a company, was to build a successful business entity that will provide the independence and opportunity to develop and market cutting-edge solutions.
Q What were the major steps you went through to start your company?
The team met in India to discuss the mission for the company and identify short and long-term goals.
- Applied for patent-pending for the solution
- Contracted an Attorney to help with the company agreement
- Incorporated the company in March 2008.
Q Where did you find the seed capital for your company?
We are self-funded and do not have any outside investment in the company. The team contributed the initial seed capital from personal resources.
Q What was your most valuable asset in the process?
Our most valuable asset has been the unique authentication product – which will revolutionize the authentication market.
Q Did you get supports from any incubator’s or professional bodies? How helped it during your scale up?
Since incorporation, we have stayed as a self-funded, independent entity. We are glad to have been accepted for the Pre-incubation membership at the TechnoPark TBI in Trivandrum and look forward to starting operations at the incubator in January 2010.
Q What makes you different fro others in the Business?
We have a diverse team that has significant technology, global business, marketing and sales experience. And , is focused on developing cutting-edge, futuristic, mobile technology solutions.
Q What has been the biggest challenge for you so far, and how did you overcome it?
Our biggest challenge so far has been the funding of operations. Fortunately, we have team of understanding professionals providing services and agreeing to deferred payment plans for their remuneration, till the company starts generating sustainable revenue streams.
Q What is your vision for your organization and what would be your Future plans?
We envision Akros TechLabs to be a large and successful mobile technologies company, in a couple of years. Our unique authentication solution can add significant value to organizations across various industries, by providing secured access to confidential data sources.
We will initially cater to the Banking and Financial Services industry. In the first half of 2010, the plan is to provide customized solutions to Hospitals, Corporate Entities and other organizations across industry segments.
Q Your advices to budding entrepreneurs?
Dream big and work hard to achieve your goals. Have the determination and faith in your abilities to endure the failures that are the steps to Success!!
Company Information:
Name of your Company: Akros TechLabs, LLC
Founded in: 2008
Head Quartered in: Austin, TX, USA
Industry: Mobile Technology solutions
Business Description: Akros TechLabs is a technology solutions and services company, with headquarters in Austin, Texas, USA. The mission of Akros is to be the global leader in developing and marketing cutting edge solutions for the emerging mobile technologies industry. Akros plans to grow its portfolio of products and will strive to provide cost-effective solutions, efficient customer service and ongoing innovation.
The Team:
Sid Prasanna
Sunil Belani
CP Singh
Surender Bhagia
Dhananjay Singh Sidhu
Achievements:
- Recently closed our first deal with a large stock trading firm in India.
- Partnered with Religare Technova to resell Akros’ flag-ship product – CNBSignIn across the globe
- Selected for the Pre-Incubation membership at the Technopark TBI in Trivandrum – scheduled to start operations in mid-January 2010
Strengths:
- The Akros founders, collectively, have over 75 years of experience in various business functional areas.
- Sid Prasanna, Managing Director, has over 14 years of experience in the sales and marketing of technology solutions, including hardware, software and services. In addition, the team has significant technical expertise and International business development experience.
- Patent-pending (US and International), cost-effective 2 factor authentication solution
Company Address & Contact:
Sid Prasanna
16238, Hwy 620, Suite F-370
Austin, TX 78717
Linked in: Profile - Sid Prasanna
I am interested in starting a business venture and building a sustainable business.
But i;m in the dark about the different steps and processes involved. Please advise on the basic steps to achieve the same.
Thank You.