The first time I said the title aloud it did sound like I was talking about sending the blog to an asylum. On second thoughts, I let the title remain - it is so apt. Institutionalising - creating of an institution which has aims and definitions and everything else.
One of the ideas that floated around on the Blog has gone into production. There are models being evolved, plans being written and by the looks of it come what may the idea will see action soon. And all of this because Juno wrote a small piece some one month ago and others jumped in.
Here is what I propose - for every idea that is born on this blog and reaches some kind of business structure, let the custodian of the idea give a small percent of the company / business to Alchemy of Thoughts. It is not compulsary, it is based on an honour system which believes in the inherent goodness of some men and women.
The figure I had in mind was about 3% stake in the company / business. The figure is debatable. This stake goes towards formation of a corpus of fund that can then seed more ideas, a community of real technocrats, maybe some sort of a publication, events etc. It can also then attract industry leaders to be advisors on board to help startups find their feet. Alchemy can then become the virtual version of JATC in Bandra or the dozen odd coffee shops in the silicon valley that spawned everything from Apple to Skype and Google. And Alchemy can then be a platform for investors / funders / people with money to meet people with ideas (they are the ones who generally do not have any money)
What this means is that Alchemy of Thoughts has to become some kind of an entity. I suggest (comes from experience) that Alchemy of Thoughts be registered as a private company with a core group of people. The people who will be in the core group can be open to debate. I can fund this bit and let the idea get started.
I had thought of a business plan and all that jazz, but I think this one is simple enough to write on the back of an used envelop.
Will the people on this blog please respond to this thought and write back.
Sunil R Nair
5 comments:
am with you on this sunil. this is the age of innovation. and the sooner we own our bit in that space, the better it is for all of us.
am not too worried about nitty-gritties. am sure we all know, trust and respect each other enough.
i think we are in the process of making history. amen to that !!
brilliant! let's institutionalise it. the thought of making it a not for profit entity...
an entity that provides a platform for ideas and business...
whoever capitalises on them takes the plunge, and takes the fruits of it.
this forum benefits by every experience that adds-on to knowledge base of alchemy.
who knows, some day one can make the knowledge available to public only on a pay mode... e.g 10 new business ideas that worked! Innovations in mobile, what rocks retail ... et al?
something like the DMA or the advertising association. only, in this case the association came first and then the possible businesses...
Way to go.
I think the spirit behind the idea is super and as of now I am struggling to rationalise how its going to work... difficult to claim ownership of any bright spark that Alchemy may accidentally light up in any anonymous mind? Unless Anon may be grateful ( or philanthropic) enough to acknowledge Alchemy and also cough up. How different will it be from a group of marketing consultants with a website ? In that case would it clash with the interests of any other type of Consulting that anyone of us may already be doing ? May create a bit of a dilemma for the guys amongst us who are already in the profession of luring moneybags with seductive ideas...any answers Sunil ? ( forgive the faux paux in case you read the post earlier !!)
Friday, 14 July, 2006
Thank you for the response. The core team seems to be already here: Juno, Ajit, Gurpreet, Sanjiv and me :).
To address a few of the doubts / questions raised:
1. Alchemy can never claim ownership of any of the ideas born here. By putting the onus on the custodian of an idea, I believe that there will be enough people who will give Alchemy that share it deserves. I believe that those people who will have their idea turn into flesh and blood know the value of what we plan to do unlike sundry angel investors / VCs who peddle advice only to act like vultures.
2. The core team is into this venture voluntarily, to put the record straight, the management of the company I help run knows what I am upto at all times. I suggest the others follow the same.
3. Those amongst us who already chase moneybags can use the experience to seed another venture. One never knows what might come out of it.
4. We need to discuss the next steps asap.
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