Market veterans Madhusudan Kela and Sanjeev Bikhchandani emphasized the qualities that drive success in investing and entrepreneurship during a conversation at the IPFEAST 4.0 LEGENDS event in New Delhi. They argued that hunger, integrity, and perseverance are far more critical than pedigree or luck in achieving lasting success. Bikhchandani highlighted the challenges of early-stage investing, admitting that it is often based on instinct rather than concrete data. He recounted instances where he declined to invest in now-successful companies like Flipkart and Ola, while backing Zomato and Policybazaar, emphasizing the importance of strong teams and customer loyalty.

Kela praised India's entrepreneurial spirit, asserting it as the country's biggest strength despite various obstacles. He pointed out that the internet revolution has generated an astounding $25 trillion in wealth worldwide over the last 25-30 years, underscoring the impact of a transformative idea. Both speakers agreed that while pedigree, such as degrees from IIT or IIM, can aid in securing initial funding, they are not definitive indicators of success. Bikhchandani noted that companies with strong credentials often receive funding based on promise, while those without must demonstrate performance before attracting investors.

The discussion also delved into essential qualities that foster trust in founders. Bikhchandani emphasized integrity as the most critical trait, along with customer knowledge and the ability to attract talent. Kela echoed this sentiment, highlighting hunger and determination as vital attributes for entrepreneurs. He encouraged investors to maintain faith in India's growth story and adopt a long-term perspective. For aspiring entrepreneurs, Bikhchandani advised staying attuned to customer needs and solving unmet problems, asserting that doing so will naturally attract both customers and investors. The insights shared at this event shed light on the nuances of successful entrepreneurship in India's evolving market landscape.