Even though Rohit Prakash was a dual MD and PhD researching optogenetics at Stanford University, his entrepreneurial itch kept returning him to his family’s small business roots.
He and his co-founder Nipul Patel began researching the travails of small business owners, interviewing countless entrepreneurs, trying to figure out what their risks were or what caused them to fail. (About half of small businesses fail within the first five years.)
Out of that came Townsquared, a Nextdoor-like platform for local business owners to connect and share resources. The company has raised $5.26 million from Floodgate and August Capital and are launching an iOS app today.