How FLO Guiding budding entrepreneurs set up shop!
The following are the excerpts from the interview
If somebody wants to begin a startup, what advice would you give them?
The advice I would give them is every idea that you have is carries a potential. Sometimes you would need validation from industry experts. The idea itself may not be successful in the long run. Hence, you should always approach an incubator who will listen to your idea, guide you and understand your thought process.
Either they will help you modify the idea and pick a different direction from what you have in mind or they will promote your idea. There are two ways. Ideally the ways of a starting up your venue is- you chalk out the design plan. If your design plan is perfect, you get the help that you need. If a design plan needs any deviation, a knowledge partner helps you.
How do you help a person to begin a startup?
We have various tie-ups with several incubators, such as IIIT wherein we give incubation support with respect to the due diligence of the idea of your business to build the end result to a person who wants to get into business.
We guide and organise bootcamps with the help of our knowledge partners and we send out applications to the members. Interested members can enroll for that. We've had bootcamps in the last two years wherein we have helped members who had come up with ideas and wanted to get into the startup industry. A complete team of experts from our knowledge partners guide the budding entrepreneur.
What is the process if someone wants to approach this organisation?
Anybody can email us or walk into the office. Our administrative staff will connect them with us. We guide the person and we will give them proper guidance.
Do you help the entrepreneurs to get loans and investments?
This year the theme is financial literacy for women, and that I'm already in talks with a couple of banks, not just for loans, but I'm also trying to ease the facilitation of loans for FLO entrepreneurs with at least one bank. If I can do so that would be of great help to FLO entrepreneurs. We will not be helping in any form in terms of any lapses or relaxations and would be duly diligent on our part from the bank's perspective as we respect the system. However, we will help our entrepreneur get loans in a speedy manner.