Learn about Sramana Mitra’s background: how she founded her first companies and what led her to start her latest company, One Million by One Million (1M/1M).
- My name is Sramana Mitra. I'm a serial entrepreneur in Silicon Valley. I have done three startups in the first wave of the internet during the 1994 to 2000, what is today known as the .com period and I'm doing my fourth company right now, as founder CEO over the last six years that is called One Million by One Million. 1m1m is the first global virtual accelerator. We run it out of Silicon Valley. Our mission is to help a million entrepreneurs reach a million dollars and beyond in annual revenue.
So my startup journey has happened from many, many different directions. First, I started my own company, first company, as a graduate student at MIT and then I did three of those in a row at a time when it wasn't so easy to learn about how to do startups from the internet because the internet was just being built at the time. Today, it's a lot easier to learn about startups, people starting out have a lot more resources available.
Then I did 10 years of consulting, working with more than 80 companies in Silicon Valley and also internationally, where I looked at startups from many different points of view. I looked at startups from the side of the entrepreneur, I worked with VC's in consulting capacities, I looked at how VC's look at companies, how they evaluate companies, et cetera, and I also worked with a lot of big companies and looked at how they look at technology, and innovation, and product marketing, and so forth. So I've looked at the domain of technology startups and technology-enabled services startups from many, many different perspectives before I started One Million by One Million in 2010.
The reason I started One Million by One Million was my distinct feeling that capitalism was failing us. Capitalism today has developed this fortune at the tip of the pyramid structure and I don't believe in this kind of a structure, especially, I don't believe in capitalism as it has been hijacked by the speculators. I believe in entrepreneurial capitalism.
I believe in entrepreneurs building value, building wealth. I don't really believe in this kind of casino game, kind of capitalism, and unfortunately, we are at a phase of capitalism where that has become the dominant force in capitalism. So I launched One Million by One Million to address this issue and kind of take it to the fortune in the middle of the pyramid level, unlock the value that is locked in the middle of the pyramid by democratizing entrepreneurship education, incubation, and really teaching what we have learned in Silicon Valley, the rigor and the methodology that we've learned in Silicon Valley, making that available much more broadly, globally, and in a far more available democratic way and that's the philosophy behind One Million by One Million.