Experienced Founders Come Out on Top: Founder & Managing Director, Matrix Partners India
FinTech BizNews Service
Mumbai, February 29, 2024: Deepening markets and experienced founders are a great combination, opined Avnish Bajaj, Founder & Managing Director, Matrix Partners India during his address at the India Digital Summit 2024, in Mumbai today.
“The experienced founders actually come out on top,” he said conversing with Revant Bhate, CEO & Co-Founder, Mosaic Wellness, during the fireside chat. He felt that experience and ‘edge’ were important in making enterprises successful, more than just dependence on technology. “We don't necessarily need that technology angle, but we definitely need a differentiation. So, if you're just another factory making just another toy, I don't think that's very exciting. If somebody can invest in it, we would. We would say, what's your edge?” Bajaj remarked.
In a similar vein, he advised entrepreneurs: “Don’t chase AI, chase business problems. AI as a stack, has application at the top, infra at the bottom. What business problems have you seen in a certain industry that you can solve, and then use AI for that because you'll be able to solve it much better with AI. I would not make it an AI-first approach. That's chasing a trend.”
Speaking of the digital public infrastructure (DPI), Bajaj said, “This digital public infrastructure in India is very unique. What used to be a liability for us in terms of infrastructure has become a necessity. And I think that's a big game-changer.”
