“It’s a game of belief,” Manasij Ganguli tells me about getting customers, investors and employees around you. We are sitting in his living room at Noida home, east of capital New Delhi, with his wife Mausmi Ambastha.
This becomes “a game of thrones” if the startup idea you’re pitching doesn’t have a global equivalent.
For Ganguli and Ambastha who co-founded ThreadSol in 2012, building a network of believers meant facing over 100 rejections, both from investors and customers, in their first year.
From getting early adopters of the product, to getting investors see it as a business worth backing, and even convincing early employees — everything boils down to building a network of believers, the husband-wife duo tell me.
“We could not point to any proven model in China or the U.S. We weren’t an Uber of anything.”
Five years since it was founded, ThreadSol now says its software touches nearly 1 billion pieces of garments produced annually, helping the brands and manufacturers save costs by identifying and plugging wastage.
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Disclosure: FactorDaily is owned by SourceCode Media, which counts Accel Partners, Blume Ventures and Vijay Shekhar Sharma among its investors. Accel Partners is an early investor in Flipkart. Vijay Shekhar Sharma is the founder of Paytm. None of FactorDaily’s investors have any influence on its reporting about India’s technology and startup ecosystem.