India’s startup landscape has opened up a wide range of opportunities for entrepreneurs and investors, particularly as technology continues to reshape how businesses are built and scaled. But for early-stage investors, finding the right opportunity often comes down to understanding what lies behind the numbers: the idea, the founder and the problem the startup is trying to solve.

For Suresh Jain, Anchor and General Partner at Sun Icon Ventures, these factors form an important part of how he looks at early-stage businesses. In a recent conversation with Indian Startup Times, Suresh spoke about his journey from financial markets to venture investing, his approach to evaluating startups and why conviction, technology and strong founder relationships matter in building long term value.

From Financial Markets to Venture Investing

Suresh began his professional journey in finance. A chartered accountant by qualification, he practised for six years before entering the stockbroking business. He later founded Networth Stock, which is now known as Monarch Networth Capital.

After exiting the business in 2010, Suresh moved into investment banking and established a company in London and Dubai to understand international finance more closely. This experience gave him exposure to different aspects of financial markets before he eventually moved towards venture investing.

His experience in the financial markets shaped his view of where the next major opportunities could emerge.

Having witnessed the listed markets for several years, Suresh said he saw significant potential in startups and believed the sector could create substantial wealth over the coming decades.

He also highlighted the role of technology in enabling entrepreneurs to build companies, solve problems and create employment.

“Conviction Has to Be on the Idea”

Conviction over hype is an important part of Suresh’s investment philosophy.

According to him, conviction needs to begin with the idea and then extend to the founder and the team behind it. However, he places particular emphasis on the underlying idea.

“Conviction has to be on the idea. Conviction has to be on the founder,” Suresh said.

His reasoning is that a strong idea can potentially survive changes within the founding team, while even a capable founder may struggle to create a significant business if the underlying idea itself does not have enough potential.

He also believes startups should think about growth in terms of multiples rather than simply percentages.

Whether it is investment, sales or employee growth, Suresh believes the focus should be on understanding how many times something can potentially grow.

Why Financial Projections Are Not the Starting Point

Sun Icon Ventures focuses on early stage startups, where financial projections can often be difficult to validate.

Suresh said his team does not place excessive importance on projected numbers because early stage projections are largely based on assumptions. Instead, the team focuses on the strength of the idea, its timing and whether there is a comparable global opportunity.

The investment process therefore begins with understanding the problem and the technology behind the proposed solution.

Sun Icon Ventures generally invests around ₹2.5 crore to ₹4 crore, according to Suresh. While the fund is sector agnostic, he said it has not invested in fintech despite his own background in finance.

For the startups the fund considers, one factor remains important across sectors. The business needs strong technology and a clear entry barrier.

Technology as a Multiplier

During the conversation, Suresh shared several examples of startups that reflect the way Sun Icon Ventures evaluates opportunities.

One of the companies he discussed was Delhi based Crackle, founded by two individuals who had previously worked in Google’s advertising division.

The company developed technology that enables advertising inventory to be bought and sold in real time. Suresh explained that the model reminded him of the way stock exchanges work, where buyers and sellers can respond quickly to changing conditions.

His experience in stockbroking helped him understand the potential of the proposition.

Suresh also spoke about SUIND, a drone company founded by two students associated with ETH Zurich. Instead of focusing on defence applications, the company works on agricultural technology.

The drones are being used in agriculture, with Suresh highlighting their application in Baramati and the reported improvement in crop yields.

For him, this represents an important part of his investment philosophy. Technology should not only create commercial value but should also have the potential to solve real problems.

Another company he highlighted was Mechatronics, a Baroda based hardware startup developing a handheld computer designed for programmers.

Suresh said the company attracted global pre orders worth approximately ₹8 crore to ₹10 crore even before its product entered the market.

For Suresh, these examples demonstrate the opportunities available in Indian technology businesses beyond the sectors that traditionally attract the most attention.

Solving Indian Problems Through Technology

Suresh believes Indian entrepreneurs do not necessarily need to follow every trend emerging from the United States or other international markets.

India itself presents a large number of opportunities.

During the conversation, he discussed 3D printed construction as one such area and highlighted Kelvin 6K, a startup working on 3D printed construction technology.

The idea is to use robotics and 3D printing to significantly reduce the time required to construct homes while maintaining the required quality.

Suresh believes such technologies could become relevant to India’s housing requirements.

He also pointed towards opportunities in education, robotics, agriculture and manufacturing.

His broader view is that India’s size and diversity create opportunities for entrepreneurs who can solve problems that exist within the country.

According to Suresh, startups do not always need to build something that is already popular globally. Solving a significant Indian problem can itself create a large opportunity.

The Investor’s Work Begins After the Investment

For Suresh, investing capital is only the beginning of the relationship between a founder and an investor.

He believes investors should focus less on repeatedly asking founders why certain numbers were not achieved and instead ask a more practical question: What can we do to support you?

That support can include hiring, strategic advice, introductions and business connections.

“Capital is only a starting point. Most important is mentoring and strategy,” Suresh said.

He also cautioned founders against losing focus after raising capital.

According to him, startups can sometimes become too aggressive with spending after receiving significant funding, particularly on areas such as advertising, without having a clear strategy.

Investors, he believes, can help founders think about sustainable growth, building entry barriers and developing strategic collaborations.

He particularly highlighted the importance of connecting startups with established companies that already have distribution, marketing capabilities and financial resources.

Suresh also said he remains available to founders and investors who may be looking for guidance or support based on his experience across financial markets, entrepreneurship and venture investing.

Building Relationships Beyond an Immediate Investment

Suresh also offered a different perspective on how founders should approach investors.

According to him, founders should not evaluate every investor interaction only in terms of whether an immediate transaction will take place.

A relationship developed today can become valuable months or even years later as the startup progresses.

“If I’m not investing tomorrow, and if he’s maintaining relationship with me for the next one year when I see it progress, the things will automatically happen,” Suresh said.

He believes every interaction should also provide value to both sides.

For Suresh, meeting founders, investors and young entrepreneurs is an opportunity to learn as well as share experience.

Taking the Startup Ecosystem Beyond Major Cities

Suresh believes India’s startup ecosystem can grow further by involving more corporates, educational institutions and communities across the country.

While acknowledging the government’s role in supporting startups, he said corporates also need to participate more actively in the ecosystem.

He suggested that colleges and universities should organise hackathons, startup events and innovation programmes that bring students, founders and investors together.

He also believes such initiatives should reach beyond major startup hubs and into different parts of India.

According to Suresh, bringing entrepreneurs together in different cities can help uncover new ideas and create stronger connections within the ecosystem.

Building an Entrepreneurial Mindset Among Young People

One of Suresh’s strongest messages during the conversation was directed towards students and young professionals.

His advice centres around one habit: reading.

He believes young people should develop the habit of continuously learning about technology because formal courses can become outdated quickly.

Artificial intelligence, semiconductors, space technology and other emerging fields are developing rapidly, making continuous learning increasingly important.

Suresh recommends setting aside dedicated time every day for what he describes as deep work.

For someone working a regular job, he suggested using the evening hours to step away from social media and other distractions and spend time reading books, listening to podcasts and understanding new technologies.

His larger point is that time is a resource available to everyone.

If a person consistently spends a few hours every day learning, that knowledge can eventually lead to new ideas, opportunities and even a potential business.

Encouraging Students to Build, Not Just Look for Jobs

Suresh also believes the next generation should think beyond conventional employment.

He spoke about an upcoming AI agent focused hackathon that aims to involve students across colleges and encourage them to build technology that can potentially reach a global market.

The idea is to create an environment where students can identify problems, develop solutions and potentially commercialise them.

For Suresh, entrepreneurship is not limited to starting a company immediately. It can begin with identifying a problem, learning about technology and developing something that creates value.

The Road Ahead for India’s Startup Ecosystem

Suresh’s perspective on venture investing goes beyond simply identifying startups and deploying capital.

His approach places the idea at the centre, followed by the founding team, technology and the ability to create a meaningful entry barrier.

His examples also reflect a broader belief that some of India’s biggest startup opportunities can emerge from solving practical problems in agriculture, education, construction, hardware and other sectors.

At the same time, he believes the ecosystem needs stronger collaboration between startups, investors, corporates and educational institutions.

For young entrepreneurs, his message is straightforward. Keep learning, understand technology, use time carefully and remain open to ideas that can solve real problems.

In a rapidly changing startup landscape, Suresh believes that the ability to identify meaningful opportunities and build around technology could remain one of the most important drivers of long term entrepreneurial growth.

-Interview Conducted By Aakriti Jaiswal