Want to start your own business? Know what helped OYO’s Ritesh Agarwal start his own company!
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If you are a budding entrepreneur but still confused about how to go about your business idea, you might just want to read this. The 21 year old founder of
“The first quarter was spending at the bay area, hanging out with starters, learning from our mentors, spending more time with entrepreneurs, came back to India and then started working on OYO Rooms in full blown. The foundation remained involved in every step and reviewed us and gave us feedback. The opportunity to be a part of the Thiel and the kind of experience I had was totally unimaginable,” says Agarwal.
Agarwal is probably one of the two youngest entrepreneurs from India to become Thiel Fellow graduate. Thiel fellowship, founded by American entrepreneur and venture capitalist,
For any budding innovator, being mentored by the likes of Peter Thiel,
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So, how does it work? Agarwal was first told about Thiel fellowship by his entrepreneur friend who himself was a TED fellow at that time. With hardly any resident Indian ever making it to Thiel, Agarwal was not too hopeful himself. However, he still applied and was asked to answer a few simple but pretty interesting questions.
“I was asked questions that were very intriguing. And then there were rounds of interview on Skype, following which I was selected for the programme,” he states.
Following the fellowship, Agarwal’s company raised $25 million funding from some of the biggest investors such as Sequoia Capital India Advisors, Greenoak Capital, Lightspeed India and DSG Consumer Partners in March this year. This is probably the biggest round of funding for any Thiel graduate across the globe.
Image credit: Indiatimes.com
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