“Entrepreneurship is a long patience game”: Kunal Nandwani: founder, uTrade

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Mr. Kunal Nandwani

 

 

 

 

 

 

 
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uTrade Solutions isa financial trading technology company with various products including multi-asset trading platform, algorithms and analytics. uTrade´s design and development has been done by capital markets and technology experts with globally proven track record. uTrade has been founded by Mr. Kunal Nandwani.He holds a Computer Science Engineering degree from PEC – Chandigarh and      MBA degree from Essec business school – Paris. He has previously worked with Lehman Brothers, Nomura and BNP Paribas in London for around 6 years in capital markets, electronic trading, prime brokerage, managed accounts etc.

                                                                                            

Techaloo: Tell us something about uTrade.
Kunal: uTrade is an adventure … it’s a financial trading technology company that aims to drive the future of capital markets.

Techaloo: How did you come up with the idea of uTrade? When did you start it?
Kunal: After MBA and few years of Investment Banking work experience in London, I was keen to start my own venture. I evaluated a few business ideas seriously that did not work out. In one of my back home trips to India, I met a couple of brokers and banks in India who showed me their sub-standard technology solutions and the massive price they pay for those products. My eyes lit up and I went back to London and resigned in a few weeks. I finished a pending project for a few months and then formally started uTrade in April 2011 (after a few months of detailed business analysis and planning).
 
Techaloo: How many people currently work for you?
Kunal: Around 40.
 
 
Techaloo: “Indian eco-system does not encourage entrepreneurs,” Your take?
Kunal: I am not aware of any Indian eco-system for any business … forget entrepreneurs. I have learnt very hard lessons around dealing with Indian government processes (whether its filing with RBI, grey areas in Tax laws, Corruption, lack of clarity in Government policies, irrational Taxes like Tax on share premium for Indian non-VC investors, dealing with State Governments/ local authorities, etc.). Doing a business is challenging as it is, adding admin hurdles instead of incentives in India are detrimental.
 
Techaloo: Any tips for aspiring entrepreneurs.
Kunal: It is very hard being an entrepreneur. It is a long patience game, where you will most likely have more bad days than good days. And do it for a good reason (whatever the reasons might be … whether you want to create a new market or solve a business problem. Money is generally not a sustainable motivator in my experience). Most probably you will fail, but try and get the fear of failure out of your mind … at the very least, you will learn more than you can learn anywhere else in your life.

Techaloo: Do you think having prior experience is must to be a successful entrepreneur? Or would you advice to jump directly in the business?
Kunal: I think some experience helps, but it’s not a pre-requisite. In my view, age-wise 20 is too young and 40 is too old (but there are clearly outliers who do well outside of this age group too)
 
 
Techaloo: What are your plans for the future?
Kunal: My plan is to make uTrade a sustainable business venture and an admirable company. Hopefully make more difference in the future somewhere else.
 
Techaloo: What do you think about techaloo.com?
Kunal: Checked out the website and it seems interesting.

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