After Rahul Yadav’s reckless antics and subsequent dismissal from Housing, a certain notion has fallen on young start-up founders who are brimming with successful scalable ideas but lack the business skills and attitude for a start-up to succeed. Now, experts are available on hire now to assist budding entrepreneurs through the journey from ideation to funding and even possible exits.
MNCs like EY, PwC, KPMG, BMR Advisors and VentureBean have formed teams that will act as mentors and guide to young entrepreneurs and investors. Foreign experts are available on call as well.
In 2013, EY India realised that pulling out consultants from some of its verticals to counsel predominantly ecommerce ventures in the startup space won’t work. It needed a team that would understand the thoughts and problems of the young customers who approach it for help. EY named Udit Aggarwal, 35 years old at the time and one of its youngest partners, head of an ecommerce vertical created exclusively for India.
EY currently has 120 consultants in this squad who consult e-commerce start-ups in financial services, retail, logistics, travel and IT. “Our teams consult PE players also on management changes and restructuring. Unlike other industries, here it is more result-driven because the start-ups and ecommerce firms are lower on manpower.” said Aggarwal.
Known as ‘start-up therapists’, such consultants are not new in developed markets. In the US, they charge up to $200 an hour and in the UK $300, said people in the know.
