Startup founders are now looking at very India-specific problems, says Mridul Arora, MD, SAIF Partners

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Speaking about his investment philosophy, Mridul says the Indian startup ecosystem today has seen a sea of change.
From founders to the investment patterns, we are now part of a growing and maturing startup ecosystem.
Mridul Arora: We are currently in our sixth fund in India, and have been deploying capital for almost 20 years now.
What we see now is that the early-stage landscape has become more vibrant – both in terms of ideas, quality of teams, flow of activity, and deal flow.
I think startup founders are now looking at very India-specific problem statements.
Once we are convinced about the startup founder, then, over time, businesses tend to find validation.
YS: How do you think the startup ecosystem has evolved and changed?
There’s also a clear trend that we’ve seen this year – a lot of people who’ve been founders earlier are starting their second or third ventures.
MA: We are clearly seeing two trends on the supply of capital – one is on the late-stage side where there is more activity, and more funds are getting active, which is very evident.
YS: How have startup founders evolved and changed?
MA: The Indian startup ecosystem is nearly a decade or two old.
Also, a lot of people who are starting up now have been exposed to the startup world in some shape or form.
They’ve either studied abroad and worked in a startup there, or have worked in a startup in India, or actually started up over here.
So, as you experience, evolve, and mature within the ecosystem, the quality of insights – not just about the business, but how to build a team, how to build an organisation, the challenges, etc., increases.
Apart from this, founders today are looking for a niche and more India-specific solutions.
YS: What are some of the parameters you look at before investing in startups?
But then, there are a few things you look at when you want to partner with a potential founder or startup

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