In an exclusive conversation with Inc42 Magazine, Bluegape founder has announced that he will sit on “Dharna” outside Accel Partners office starting from 23rd March for not funding his startup after number of presentations. He said that he tried everything in last two years. He has given presentations to their partners during Nasscom in Bangalore, TiE event in Mumbai, India Internet Day in Delhi.
He further cleared that he has sent number of emails and tried calling their office numbers. “What else could we have done,” he said in an angry voice.
We were just demanding them to invest 10 million dollars in our startup. Accel Partners replied that we don’t know how to make financial projections. We are AAM AADMI, we not MBAs. We know how to make business, but not business plan. They go and fund startups who just copy paste a US model and keep on burning money forever.
One of the VC at Accel Partner went to the extent that he said “Dum hai to apna VC fund bana lo”. We will ask all startups of our country if we should make our own VC fund. Startups across the country can send us their opinion, if we should form the VC fund or not via SMS on 69696969 or visit our website www.bluegape.com. We will also do ‘Mohalla Shabas’ across country to take an opinion from the people of the country.
We are also demanding for ‘BusinessPlanBill’. They should upload all business plans that they are getting on their website and let the public decide which business plan should be funded. They said that others will copy the business plan if they upload them on the website. But the truth is these funded startups already copied their business model of some US based company.
We will also protest against media if they won’t cover our Dharna from 23rd March. Media people give headlines to these funded startups. Media is the fourth pillar of our constitution and they should give headlines to all startups equally. We don’t have a proof, but we can say that Accel Partners have a stake in all media channels as well.