The most popular way to start up would be to have an idea, funds and then the best heads to run it. Of course not necessarily in that order always. But even if you get the fundamentals right, that will not ensure your startup will be the talked about and known. Having a celebrity to not only endorse but also to put her money in the venture seems to work wonders in the overcrowded startup space. The latest celebrity to invest in a startup is Bollywood star Alia Bhatt who has taken a minority stake in fashion tech startup StyleCracker.
The celebrity and the startup have to have a connect, else it may raise eyebrows. “If there is a connect with the celebrity by way of her relevance in the product or service, then it is a believable concept that may get just initial traction,” says Sanchit Vir Gogia, Chief Analyst, Founder and CEO of Greyhound Research, a global technology and innovation research, advisory and consulting firm.
“But nothing works beyond the initial hype that the startup will generate because of the celebrity endorsement or investment. As a venture capitalist I would look at the expertise of the company. For instance, if it is a Sequoia-backed venture that has huge experience, I would go for it instead of a celebrity-endorsed or invested startup,” Gogia said.
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Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, a Global, Award-Winning, Technology & Innovation Research, Advisory & Consulting Firm. To read more about him, click here.
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