“Start where you are, use what you have, do what you can”
“The secret of getting ahead is getting started”
This success story of Amit Singal, CEO Startup Buddy is sure to persuade you to follow your passion and pull out all the stops.
Started his career as a Chartered Accountant in the year 2006 and started his own practice like any other Chartered accountants in the country. You know what’s important to be successful? It is to identify the potential of an opportunity and grab it. Likewise Amit Singal got an opportunity to work with Capital-18 an extended arm of Network 18 and he grabbed this opportunity as the company was seeking his guidance and he was appointed as an auditor. Eventually when he interacted with the founders of the company, he realized that the founders of the company were not serious about the compliances and company was facing difficulties in getting funding from investors. Although the company had a good potential idea, but due to the compliance issue, investors weren’t investing money in the company.
This very problem that he witnessed in the company, triggered the zest within him to find Startup Buddy, a one-stop solution which will offer end-to-end accounting, financial and advisory services using high end technology. People were not aware about the issue in compliances and also it was a herculean task to explain the norms and cost to the Entrepreneurs as most of them used to compare the cost charged by the company with other traditional professionals. Another big challenge for the company was that, most of the Startup failed at the early stage itself and they faced difficulties in paying to their vendors and also failed at paying to the company as well. It was a great challenge for the company to survive at that point. But as they say ‘Every cloud has silver lining’ so as there was no much competition as every profession especially CS, CA, lawyers were focusing on the large corporates, it actually was an advantage for the company itself . In 2015, when our honourable Prime Minister, Narendra Modi declared the mission of ‘Start up India, Stand up India’ it turned out to be a boon for the company Startup Buddy. It boosted the company and eventually people came to the company to understand about Startup ecosystem. Penalty on the non-compliances were increased by the Govt at that time, which again proved as a boon to the company. By now all the Startup companies were serious about their compliances not only because of the investors but also because of the Govt. The company got recognized due to the lots of awareness programs that happened and eventually striving and thriving, Amit singal paved the gateway of success for Startup Buddy.
As of now he has invested in about 31 companies and out of which he is still an investor in 25 startups till date to boost the startup ecosystem and also recently launched SEBI approved Micro VC Fund. “Never be too emotional or rigid about your idea, once you know that your idea is no longer relevant for your customers, then allow and accept the alterations and make it perfect” says the CEO of Startup Buddy, Mr Amit Singal.