Sanjeev Bikhchandani, Founder, Info Edge, says recently “It has been a bit of a tightrope walk. So it is a balance and you gotta do it bottom up and figure out what makes sense, what does not make sense, what is just right and what is too much. And it has been bottom up. In 2024, I am looking at a bounce back in funding. I am looking at a bounce back in hiring. And I am looking at growth going even higher post elections.”
On Startup Mahakumbh
Sanjeev Bikhchandani: This is the largest gathering of start-up founders, of investors, of policymakers, of the public in India and hopefully this will become an annual event. So the original concept was like you used to have the India International Trade Fair and you still have it in Delhi and it is a flagship event, a marquee event. We want India International Start-up Fair to be a marquee event and we are calling it Startup Mahakumbh.
You had mentioned earlier that you are doubtful about the market’s reception of loss-making firms without visibility on profits. What is your view on the start-ups moving towards listing in the markets? Sanjeev Bikhchandani: Well, it is already happening and the movement is pretty good. So if you look at companies that are listed and profitable, Info Edge is listed profitable, MakeMyTrip is listed profitable, Just Dial is listed profitable, India Mart is listed profitable, Matrimony is listed profitable, Zomato is listed profitable, Policy Bazaar is listed profitable, Delhivery is listed profitable. Nykaa is listed as profitable. There are many start-ups that are listed and profitable and many more are coming.You had also mentioned that the key to building a good start-up is to build a solid business model. When everyone was talking about the funding winter last year, could you shed some more light on what exactly did you mean by building a solid business model and how that can help the founders in the start-up ecosystem?Sanjeev Bikhchandani: I think it is very simple. It is a business model where you are producing something which creates value for customers. The value proposition is compelling. People want to buy what you are selling. They are willing to pay a price for it that is higher than your cost. And the market is large and growing. It is a great solid business model.Recently we have seen a lot of challenges and issues in the start-up ecosystem. At the policy level, what can be done for ease of doing business while also working under the regulatory protocols?Sanjeev Bikhchandani: It is a bit of a tightrope walk. So it is a balance and you gotta do it bottom up and figure out what makes sense, what does not make sense, what is just right and what is too much. And it has been bottom up.
When we look at 2024, what are the kind of things you are looking at?
Sanjeev Bikhchandani: I am looking at a bounce back in funding. I am looking at a bounce back in hiring. And I am looking at growth going even higher post elections.
