A decade ago, the script for an Indian venture capital success story was remarkably consistent.
A group of ambitious engineers would write lines of code, assemble a sleek application interface, and solve a consumer logistics or enterprise software workflow problem.
This playbook created unprecedented wealth, established global tech delivery capabilities as an IT back office, and transformed India into the third-largest startup ecosystem in the world and a global destination for GCCs.
Yet, sitting across the table from founders in Hyderabad, Bengaluru, and Chennai today, I notice a profound shift in energy.
The pitch decks crossing the desks of incubators, accelerators, funds and family offices are no longer just about optimising delivery algorithms or enterprise SaaS.
