Archive for August 2017


So Wingify won an Award? Bootstrapped Champ. Congratulations! So, what?

Sure, as father of the Founder, Founding Director and CFO of Wingify, yesterday evening at Lila Bangalore was a proud moment to see my son getting applauded by who’s who of startup and investor community in India on winning startup of the year award in bootstrapped category.

But while sitting through the proceedings of award ceremony and listening to the distinguished panelists my head was spinning with questions like;

  • Is bootstrapping an effective form of social proof, building credibility and trust?
  • Is it should be a matter of great pride winning an award in bootstrapped category?
  • What award would have brought us still more pride and happiness?
  • Does this award-winning status help us sell more?
  • Is only lots of VC funds and a viral growth but little proof of concept enough to define a venture’s success?

In a world where venture capital is more celebrated than utilizing your own, self-generated resources to take an idea from zero to one, being bootstrapped sure look like an outlier if not an outright pariah. Bootstrapping itself becomes a virtue. It’s outcome takes a backseat. This is worrisome. Perhaps Paras had same thoughts when he said, “We have never taken pride in being bootstrapped and a startup’s success shouldn’t be qualified by its source of funding”.

Yes, we would have celebrated very hard had we been awarded;

  • for being a profitable bootstrapped champ six year back.
  • Still more happy, if in the world of high growth – high loss Indian startup World, we had been recognized as being highly profitable from day one.
  • We would have been super happy if we had been recognized as one of rare Indian software Product Export Company (against Services – read ITES and BPOs) with over 4000 enterprise clients / brands including the likes of Microsoft, General Electric, and Walt Disney, Dominos etc. across 90 countries.

Lest you take above said as quibbles of a whining mind, let me assure you all of us at Wingify are very happy and proud at winning this award. Bootstrapping has its own advantages and success of Wingify is big proof and validation of this.

About time I share what we learned as being bootstrapped.

Taking money from outside may look like a path to glory and success but there is lot of upside when you make money quietly with your own resources. Even if you look disorganized and isolated from the business ecosystem, you bring out the best and original in you, you innovate, improvise, unlearn and learn, build your own unique company culture and move on steadily to organically grow idea and business in a profitable way.

Outlandish it may sound but our experience proves that bootstrapping attracts top talent. Tell me which situation can attract people with huge experience and great skills sets who consider building on an idea into a billion-dollar business and proving themselves in the process more remunerative and satisfying then earning a fat CTC at a MNC but doing something routine and pedestrian.

Wingify has plenty of such talent who believe in themselves and their capabilities to move the idea from million to billion. This is not to say that Wingify is miserly in remunerating its team members. Wingify take pride in compensating and caring its people at par with the best software companies in the industry.

Hats off to all of you Wingifighters for believing in yourselves. This award is dedicated to all of you.

Finally, most cherished advantage of bootstrapping is that it helps you maintain control of your company, doing your own thing while deciding on the right opportunities and partners to help you scale. Unless one is free to decide and act, freedom is rarely understood.

Let me end these ramblings with a note of thanks.

I want to express my sincere appreciation and thanks to the Economic Times for this prestigious Award. We are truly humbled and honored to receive it.

In a larger sense, however, this award is more appropriately deserved by Wingify team members who are collaborating day in day out in achieving our Vision: to make India lead the world into future by imagining and delivering products and solutions that are unique, innovative and inspiring, and therefore provide thought leadership and inspiration to other Indian organizations on competing and winning globally.