In the latest episode of the Dinis Guarda YouTube Podcast, Chandra Goyal, Founder and Investor at KRG Ventures Limited discusses AI-powered investment strategies, small business automation, and the role of mentorship in startup success. The podcast is powered by Businessabc.net, Citiesabc.com, Wisdomia.ai, and Sportsabc.org.
Chandra Goyal is an angel investor and entrepreneur. He is the Founder and Investor at KRG Ventures Limited, a venture firm that invests in early-stage startups and small businesses focused on sustainable and disruptive technology. Some of its clients include Worldplay, YHJ Trading Limited, Tongadive, Siya, DNA Payments, Oak North, and Focus Group.
Since 2022, Chandra has been a Board Member of the Soho Business Alliance, an organisation that supports over 110 businesses by offering licensing and legal advice, networking opportunities, and economic empowerment initiatives.
During the interview with Dinis Guarda, Chandra discusses the role of AI in startup investment:
“The AI-driven platform allows startups to submit their information and automatically identifies key areas they need to improve to become investment-ready. This helps streamline the process, making it more efficient for both the startup and the investors.
In addition to my work with 888 VC, I’ve also made investments in land and properties in India. We’re expanding into Dubai, as it’s becoming the centre for investment, particularly due to favourable tax policies compared to the UK. We are in the process of setting up an office in Dubai and have strategic partnerships with investors and private equity firms. This will enable us to materialise large investment opportunities.
We’re also working to support UK-based startups by helping them go beyond the UK market. We’re positioning them on a global stage where they can secure the investment they need, without the heavy tax burden. This allows them to grow and thrive on an international level.”
Leveraging AI and automation for retail efficiency
Chandra Goyal shares his experience of automating business operations:
“As I was scaling my businesses, I realised there were issues around inventory management, handling money, and various operational aspects. So, I implemented machines where customers can insert notes and receive the correct change automatically. I also set up systems to track inventory, ensuring we only order what’s necessary.
I invested nearly £60,000 in automation for my businesses, including AI-powered systems to predict customer trends and optimise supply. This investment, when broken down over ten years, is around £6,000 a year, but it has made a huge difference in terms of optimizing the business and making my life easier.”
Talking about the role of AI in small business, he says:
“Small businesses need to understand the potential of AI. For example, AI can handle FAQs on websites like store hours, products, or holiday schedules. It can save time and improve customer service, making the business more efficient.
One of the major challenges small businesses face is managing receipts, paperwork, and other administrative tasks. AI and streamlined services, like the ones offered by Business ABC, can bring everything under one platform, saving time, effort, and money. This approach allows businesses to focus on key areas for growth and development.”
Soho Business Alliance: Drives growth and innovation
The Soho Business Alliance (SBA) is a non-profit organisation established in 2020 to represent and support businesses in Soho, London. It acts as a unified voice for local businesses, working to protect and promote the area’s economic diversity and unique character.
Talking about the formation of the Soho Business Alliance, Chandra says:
“Soho Business Alliance was originally formulated after COVID. We all realized that we need each other and should have a unified voice when addressing issues with licensing, security, or any other local problems.
If one business complains about something, there’s no action. But if we all come together and understand the problem, we can address it as a unified front. We work closely with the local council to resolve issues.
Soho Business Alliance currently serves 180 businesses, and we’re growing daily. We have sponsors like AMX and DNA. We even have our own WhatsApp group where we communicate about issues like crime and the challenges we face day-to-day.
“The scrapping of VAT tax-free shopping has significantly impacted tourism in London. We are losing £23.6 billion a year in revenue. This has led to major high-street shops closing down.
We want Soho to thrive as a nighttime economy hub. Many cities operate 24-hour economies. If we can make the 24-hour pilot scheme successful in Soho, we can expand it to the entire area, making it a global destination.
We already have great transport connections with the new Elizabeth line, but we need to improve licensing and extend operating hours to make Soho a truly 24-hour commercial and cultural destination.”
Building a strong team and mentorship for startup success
Chandra Goyal emphasises the importance of teamwork and diversity in the Soho Business Alliance (SBA):
“Soho Business Alliance committee is made up of people from different walks of life. We’ve got people like John James who owns the entire Soho estates, Victor Garvey, an M-star chef, and many others from diverse backgrounds.
That’s what makes Soho special. We’ve got people like George, who comes from the nightlife industry and is trying to build his jazz empire, and then we’ve got Peter, who takes care of the planning side of things.
We also have our lovely Joe May, who’s our secretary and keeps the glue of Soho Business Alliance together. She communicates with everyone every day about the local problems that need addressing.”
Talking about how they keep the community engaged, he says:
“To ensure effective communication, we have board meetings once a month. We also host our first Tuesday club where everyone who lives and works in Soho is invited to discuss local issues and what we’re doing to resolve them.
We use social media groups and channels to communicate with our members, understand their problems, and figure out how we can resolve them.”
Chandra also explains why many startups fail because they lack the right guidance, leading to issues with their pitch decks, strategy, or execution:
“I think the key part of any startup to be successful is to have the correct guidance given to them. That is where most startups fail to secure investments.
They think their idea is a million-dollar idea but they haven’t got the expertise to actually look through the whole pitch deck and understand that some of the numbers they have provided don’t add up or the strategy is wrong.
We built the ecosystem again where all the investors, angel investors, and those who want to be part of the mentorship program can join together.
We built a mentorship panel where mentors can also mentor these startups and if they like those startups, they can also become investors. Mentors are coming and giving their 20-30 years of experience, and it’s only fair that they get paid for their time as well. We match the startups with the right mentors. For example, if a tech startup is looking for advice, we link them with someone who has years of experience in that field.”
Mentors sometimes become so keen that they want to invest their own money into the platform because they believe in the product.
As an investor myself, I have more confidence to invest when an effective mentor is actually guiding these startups.”
Concluding the interview Chandra Goyal offers practical and actionable advice for aspiring entrepreneurs:
“Your network is your net worth. If you get the network right, you will get the worth right. Put your ideas on paper. If you’re just going to talk about it, there will be nothing happening about it.
Shortlist your ideas into the top three ideas that you actually want to work on and that increases your potential. Go to a good mentor who can mentor you through the whole process. Look through LinkedIn, and successful people, and invite them over for a coffee.
“Go to network meetings… you’ll get what are the positives of your startup, the negatives, the threats, and the opportunities.
Once you’ve done the complete analysis, then go through your mentor, understand, and build a business plan around it.
Look into different types of government funding available to startups. Do your research and don’t rush into anything you’re not sure of.
Once you’ve achieved all that, then go into the real deal. Then you will get real success.”
Shikha Negi is a Content Writer at ztudium with expertise in writing and proofreading content. Having created more than 500 articles encompassing a diverse range of educational topics, from breaking news to in-depth analysis and long-form content, Shikha has a deep understanding of emerging trends in business, technology (including AI, blockchain, and the metaverse), and societal shifts, As the author at Sarvgyan News, Shikha has demonstrated expertise in crafting engaging and informative content tailored for various audiences, including students, educators, and professionals.
