LAFFAZ Media lately caught up with Aditya Arora, the CEO of FAAD Network, a Gurugram-based startup accelerator firm founded in 2015 by Dr Dinesh Singh and Karan Verma.
We began with asking questions related to Aditya’s early career, to know about FAAD and ended with seeking suggestions that could foster learning for the newbie and budding entrepreneurs.
It is our pleasure in presenting to you our conversation with Aditya. Here’s to it…
LAFFAZ: We would like our audience to know about you in detail. How you started out in your career and reaching to this level to being the CEO of the accelerator firm ‘FAAD’?
Aditya: When I was in school, I was a small part in the process of a sale of a company. I got the outlining of how companies can be built and grown over time. When I entered college, I decided to intern in FAAD under the mentorship of Dr Dinesh Singh and Mr Karan Verma. In my internship period, I did nothing but read Startup reports day in and day out. My purpose was to know about this ecosystem and write my take and cover inspiring stories of other Entrepreneurs.
That’s where the entrepreneurial bug bit me and I decided that I would continue exploring this field rather than sit for a college placement process. My journey with FAAD started then and I haven’t looked back since then.
LAFFAZ: Since the Indian startup ecosystem is ever-growing on a rapid pace and found its spot to the second position after the U.S.; there could be N number of other types of startups and ideas to build your career around, but you continued working with FAAD. What’s the core cognition behind?
Aditya: India is becoming a hot-bed of startups with DPIIT claiming over 20,000 registered startups in the country. But still, the rate of success is very less as compared to the USA and China. The reason being, there are a large majority of companies which are in the early stage but don’t get enough support initially. Be it idea validation, seed funding, right team or better mentorship. These all become the pain points for a Startup.
Initially, FAAD was started as a one-stop solution for all the entrepreneurial needs where we were helping startups with the services of Content, PR, Co-founder matchmaking and a plethora of other services. Later on, we adopted a much-focused approach to fundraising. Two years into the investment business and we already have a healthy and quality portfolio of about 7 companies.
LAFFAZ: What all problems are being solved by FAAD? And how you’ve planned to expand it further and address the challenges of startups and MSMEs in the future?
Aditya: FAAD Network is recognized as a leading Member based investor network handholding early-stage startups. Our team is made up of seasoned investors and experienced entrepreneurs from a variety of backgrounds and disciplines, who collaborate with partners to help foster innovative ideas into successful businesses.
The two major ways with which we solve problems are:
#1. Creating a network of early-stage investors and encouraging many new investors to invest in Startups. In India, there are only 1200 active investors and our ecosystem needs more of them. Through our network, we are not only managing their port