For startups, the difference between failure and success is networking

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For startups, the difference between failure and success is networking
Finding people

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BENGALURU : Startups face strategic choices at different stages that can make or break them.
Take the example of Bengaluru-based startup EnrichVideo, which helps enterprises use personalized videos to increase sales conversions.
EnrichVideo faced a choice that’s crucial for enterprise software product startups: whether to be narrow-focused or cast the net wider at an early stage.
But EnrichVideo founder Chandu Sohoni decided to listen to three of his peers who told him they had wasted six crucial months with the broad-based approach.
“You’ll never have enough data to make the choice between a narrow or broad segment very clearly at an early stage,” says Prasanna Krishnamoorthy, founder of Upekkha accelerator for SaaS startups.
Two years ago when Upekkha started, Krishnamoorthy knew building networks and communities was important.
Networks are too amorphous, he feels, and communities are better at providing shoulders to cry on.
Avinash Raghava, an organiser of SaaSBooMi and other startup events, loves to build communities because “magic happens when people come together”.
For example, finding suitable co-founders can be one of the hardest bridges to cross for some.
Raghava saw two other outcomes triggered by networking events.
Vipul Mishra, founder of prototyping and usability testing platform CanvasFlip, met one of his key mentors and investors Pallav Nadhani at a ProductNation event.
This year, at a SaaSBooMi event, it caught the eye of Freshworks founder Girish Mathrubootham who decided to acquire the startup.
Alumni networks
Alumni networks are another powerful force multiplier.
Subhendu Panigrahi, founder of Bangalore startup Skillenza that specializes in organising hackathons, used to head the entrepreneur cell at IIT Kharagpur.
The IITs and BITS Pilani also support their alumni networks in a structured manner.
“I’ve seen so many guys with ranks of 3,000-5,000 who still come to IIT even though they had a chance to go to one of the NITs

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