While most students are navigating the complexities of college life, Appalla Saikiran, a dynamic 20-year-old from Hyderabad, is already making a name for himself in the world of startups. The founder and CEO of Scope App, Saikiran, has created a unique and exclusive global networking platform connecting aspiring entrepreneurs, startups, investors, business mentors, and professional collaborators.
Recognized by the TOI #Unstoppable21 jury as one of the Unstoppable 21 Indians under 21, Appalla Saikiran is rewriting the rules of the fundraising process and redefining entrepreneurship.
A Vision from a Young Mind
Appalla Saikiran embarked on his entrepreneurial journey at the tender age of 17 when he founded Scope App. His vision was simple yet revolutionary: to streamline the fundraising process and connect entrepreneurs with investors efficiently. In a world where securing funding often involves months of meetings, Saikiran’s platform aimed to cut this timeline down to just 3-4 months.
Speaking to a leading publication, Saikiran revealed his motivation behind creating the Scope App. He drew inspiration from Elon Musk, the visionary founder of Tesla and SpaceX. Musk’s famous quote, “Instead of baby showers, let’s host business showers for startup company entrepreneurs,” resonated deeply with Saikiran. He envisioned a world where resources were pooled to support the birth of new ventures, and this vision became the foundation for Scope.
Shortening the Networking Gap
Saikiran’s journey was not without its share of challenges. He initially pooled Rs 10 lakh from friends, family, and angel investors to establish Scope. The platform’s rapid success attracted investors like renowned American venture capitalist Tim Draper, who contributed $1.2 million, and Microsoft for Startups, which invested $300,000.
Saikiran’s journey took flight at the Meridien School in Hyderabad and continued through his higher secondary education at the Birla School in Rajasthan’s Pilani. It was during this period that he had his first taste of entrepreneurial struggle.
In Class 11, he used his savings of Rs 15,000-20,000 to create an app on the Play Store designed to help students find suitable study groups and partners. The app garnered over 15,000 downloads within the first three hours of launch. However, as it exceeded 30,000 downloads, the server couldn’t handle the load, leading to the app’s unfortunate shutdown. Despite his best efforts, Saikiran could not secure additional server space to keep the app operational.
While speaking to a leading publication, Saikiran reflected on his frustration in the startup ecosystem. He highlighted a common issue many entrepreneurs face – the lengthy and uncertain response time from investors. This experience inspired Saikiran to create a central hub where startups could connect with investors, receiving quick and definitive responses. This approach would save precious time for entrepreneurs, allowing them to move on to other potential investors without unnecessary delays.
Global Recognition and an Inclusive Vision
Saikiran’s accomplishments have not gone unnoticed. He has gained international recognition and now stands shoulder to shoulder with global business leaders as part of the Council for Inclusive Capitalism, founded by Lynn Forester de Rothschild. This exclusive council includes influential figures such as Indian billionaire Mukesh Ambani among its members.
In discussing his aspirations, Saikiran shared his vision of creating a Y-Combinator-like platform in India. Y-Combinator is widely regarded as the gold standard in the global startup ecosystem. Saikiran believes India possesses immense talent that requires unwavering support, recognition, and resources to thrive.
Appalla Saikiran’s journey is a testament to the power of youth, vision, and determination. His Scope App is transforming how entrepreneurs and investors connect, making the process more efficient and accessible. As he continues to build bridges between startups and investors, Saikiran’s mission to create a supportive ecosystem for budding entrepreneurs is indeed unstoppable. His story serves as an inspiration to young entrepreneurs across the globe, proving that age is no barrier to making a significant impact in the entrepreneurial world.