Invest in new ideas, not flavour of the season, says Accel's Prashant Prakash

livemint.com:

Edited excerpts of the interview: This year companies had to align themselves to what works long-term for businesses, and what is good for both the company and the investors, and finally, the LPs (limited partners) of our funds who put their faith in India and who have invested heavily in India. Therefore, I think it was time to readjust many things, and in some cases, correct certain excesses in the ecosystem. The good part is we have emerged from this as, maybe, the hotspot globally.

With all the events that unfolded this year, nothing has diminished the significance of those experiences. When I attend events in Southeast Asia, Europe, and in the US or wherever, there is interest in the country and the belief that India is the moment, transforming into a middle-income country. We have what it takes to transform.

The conviction and global acceptance have been a high point for us this year. Then finally, the depth of our entrepreneurial talent continues to surprise us. We are continuing to have more and more entrepreneurs believe that many great companies can be built over the next 10, 15, and 20 years, and we do not see a slowdown in that.

India's position, as an innovation hub, the dispersion of innovation that started from the West to the Global South is now getting concentrated and somewhat centered around India. That is a big positive. So, it's not just that we have an economy that will grow, but we also have become a new spot for innovation, which would mean that it's not only about domestic consumption, but it's also about us being able to develop technologies products for the rest of the world.