The latest addition of Venture Upbeat featured an interview with former Vice President and Managing Director at Walmart Labs, Jaya Kumar K. He has also worked as the Managing Director and Vice President of Engineering Ariba Technologies India Ltd. during his interview he said that there is a host of startups in India.
“We see more focus on funding and evaluating the game as what we call it.”
He said, “We must have a better understanding of what would work in an Indian context for startups and what would probably work there to attain sustainable success. How many Indian startups have successfully gone public is one of the more poignant points that also came up.” Answering another question he said that if the kind of work is considered, most of the startups are just following the west, taking ideas from the west and imitating the same. He suggested that startups should focus on creating a viable business and taking the business public.
He said, “India Stack is a good example of such a case, wherein it is trying to solve an India-specific problem.” He concluded the interview by saying that it had become a valuation game where funding is being sought instead of focusing on a sustainable ecosystem. “Startups should focus on India-specific problems and solve the India problem.”