PUBLIC vs CONFIDENTIAL SUBMISSION

You know well that we want your ideas to be appreciated by other technology enthusiasts and users alike. It had always been a point of debate even within our own team. Today I was chatting with a potential applicant. If you have patience, do chk our conversations at the end of this post (Names edited for protecting his/her privacy). I'm going to brief you the main points right now.

The typical questions that I usually need to answer include:
(1) Dont you think my idea will be stolen?
(2) My concept might be the simplest but it has yet been thought by anyone else. Why should I give public an hint and devastate my own fortune?

True. True. True. So very true. Why would you want others to make fortunes without you getting benefitted a dime? But we think it in other way. If your idea is smarter enough and you put up your idea via dreamZhunt, we think your credibility increases. Even if you don't emerge as one of the winners, we sincerely think the visbility will help other VCs approach you and help you make the so-called "fortunes". Infact, that's like risking our ownselves. Why would we want to promote an event so hard and send the prospective applicant to other VCs? Yes, its true that we share risks as much as you do.

But the point of dreamZhunt is to promote "technopreneurs". We're happy to have you approached by other VCs because of the visbility you gain through dreamZhunt. Hey yeah, hold on, I missed the other point - your ideas are also prone to being stolen. Now you need your idea to be confidential but you'd also appreciate the visibility, if possible. So how do we sort this out?


Firstly, an "opt-out" option by selecting which your submission will be kept confidential and only our panel of judges will be able to review your idea. Secondly, if you prefer, you can select an "opt-in" option by which the ideas can be made public after the dreamZhunt event is over. Incase you don't emerge out as winner or you choose not to accept our offer, this will help you create the visibility and open the opportunities with other VCs out thers in the market later.

Your ideas are welcome! :)


CHAT TRANSCRIPT
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---PROSPECTIVE TECHNOPRENEUR---

but how does the project selection process for this event

through website or direct presentation or both

Manoj

best 50 ideas will b put up for public rating

then top 10 will b invited to chennai (all-paid)

3 winners will b selected

---PROSPECTIVE TECHNOPRENEUR---

what do u mean by three winners

all projects are different

Manoj

yes all three

three ideas

each idea can hav “n” number of founders

---PROSPECTIVE TECHNOPRENEUR---

i mean 10 projects are different rite

Manoj

yes all 10 r diff

---PROSPECTIVE TECHNOPRENEUR---

but in that case u are listing all the projects in public where other unselected project concepts become transparent for other competitors too

so what happens to that unselected project

confidentiality

Manoj

exactly... but dis event as such is a "public event"

---PROSPECTIVE TECHNOPRENEUR---

no it should not be

Manoj

v want public to approve d ideas

---PROSPECTIVE TECHNOPRENEUR---

the evaluation must be with in ur organization

or else u need to research for the project scope

Manoj

'research' means?

---PROSPECTIVE TECHNOPRENEUR---

but publicity will disturb the project owner

in the sense

Manoj

nope it wont...

---PROSPECTIVE TECHNOPRENEUR---

scope of the project

Manoj

i'll explain u how

d moment an idea becomes popular

even if someone copies, that will add credibility to the owner

cos once sthg becomes popular, its not an easy task to copy

so d value of original contibuor increases even if his idea gets rejected

---PROSPECTIVE TECHNOPRENEUR---

but we cant say who started the concept first rite?

Manoj

cos it is getting published on dreamzhunt first, its easier to find out this is an "copied" idea

---PROSPECTIVE TECHNOPRENEUR---

the concept whic i may propose may already be in development by other ppl

rite

Manoj

yes it may be

but u'll b d one to populairse it

for example, voting system is a way-old one

but digg made it popular

and now everyone credits "Digg"

by mentioning like "Digg-like" system

c even if someone gets rejected by SGS-TIC, it would become easier for them to approach other VCs easliy

in this way

---PROSPECTIVE TECHNOPRENEUR---

ya thts rite even they may be invited by other company too

Manoj

u as a person, will become higly visbble

daz d goal of this event

v know its a risk for SGS itself

but v wanted to help "deserving" ppl ucceed and gain visibility

so ultimately, the original owner wins... not devasted

---PROSPECTIVE TECHNOPRENEUR---

v know its a risk for SGS itself - how do u say this?

Manoj

cos v're trying to pick up best 3 ideas

now d moment someone enters the TOP 50 slot

he can b approached by anyone

and he can go away with any other VC

so our task would b to reatin his "interest-level" at this stage

---PROSPECTIVE TECHNOPRENEUR---

so in such case 1 month itself more time

Manoj

so wat do u think now? is it a good approach to publicise d ideas or keep it closed?

---PROSPECTIVE TECHNOPRENEUR---

i can say both has equal impact

Manoj

like

---PROSPECTIVE TECHNOPRENEUR---

it has a advantage and disadvantage

for both the explanations what we gave

Manoj

can u describe ur point?

---PROSPECTIVE TECHNOPRENEUR---

as i said before

any one can copy

but it does not mean that only the project owner gets credit

it matters only who makes money

credits dont help

AN Idea Can Your Life !

so it cant be wasted as easy as like public listing

Manoj

yeah rite

---PROSPECTIVE TECHNOPRENEUR---

An Idea Can Change Your KLife

thats what i feel

but here on its up to urs decision

Manoj

if an idea is good enough, even if he isn't selected on dreamZhunt, he'll b approached by other VCs

dont u think so?

its not jus credits

its d visbility dat creates d opportunity

---PROSPECTIVE TECHNOPRENEUR---

yes rite

but how many ppl will approach to the project owner truly

every one needs the initial idea/startup

then no need of a person to lead the project

for example think a person like my MD

who will drop any one on whom he has no more need

:P

Manoj

yes rite, if someone is truly interested in a technology, they will acquire the entire team behind it... not jus d idea

including its originial founders and community behind it

---PROSPECTIVE TECHNOPRENEUR---

your thinking might not fit to all countries

Manoj

for exmaple, google's acquisition of youtube is not its technology but the community around it

---PROSPECTIVE TECHNOPRENEUR---

to ur notice its india

Manoj

hahahaha

i know

but wat i meant is...

d visbility created

dat someone is able to think originally

---PROSPECTIVE TECHNOPRENEUR---

yes thats what i mean to say

it has both impact

so we cant come to a conclusion

Manoj

so ur feedback is welcome

---PROSPECTIVE TECHNOPRENEUR---

it depends on the project owner

Manoj

if u have to submit ur idea, wat wud u need?

---PROSPECTIVE TECHNOPRENEUR---

decision

confidentiality

MUST

if its not selected

then i will try with my own company

where i have my freedom

Manoj

so u want d idea to b evaluated behind d screens... and u may not go by dreamZhunt procedures

and u might miss dat visibility

is dat ok for u?

---PROSPECTIVE TECHNOPRENEUR---

yes

so u list both offers

vissibility and non-vis

so let the project owners decide

how they want

thier projects to be evaluated

Manoj

ye got ur point...

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