(L-r) Shruti Gandhi, Founder and Managing Partner of Array Ventures; Ankur Prakash, Partner at Liberty Global Ventures; and Gary Gauba, Founder and MD of The CXO Fund, present a keynote at the Evolv Kickoff B20 India Roadshow held in Palo Alto, Calif. (All Photos: Amar D. Gupta/Siliconeer)

Silicon Valley is an enigmatic space of innovations, disruptions, and entrepreneurship. As the South Asian community in Silicon Valley, we have flourished in this space and there are more Indian tech leaders than we can comprehend. Sundar Pichai, Satya Nadella, Anjali Sud, Neha Parikh – these are the usual suspects that come to mind.

The Silicon Valley, India connection has been a growing space throughout the last few decades. The Evolv Program presented by the Confederation of Indian Industry facilitates the engagement of Silicon Valley’s innovation ecosystem in India.

Evolv Co-Chair and Founder and CEO of StrategyR, Ram Reddy, at the Evolv Kickoff B20 India Roadshow

Launched on March 29, 2023, the Evolv Kickoff B20 India Roadshow was held at the Crowne Plaza in Palo Alto, California. In partnership with the Consul General of India and the CII, the launch of Evolv provided fresh perspectives on venture capital trends, technology trends, and the opportunities lying within “India’s rapidly expanding captive markets.” (Ram Reddy, Co-Chair, Evolv)

Open social media and every business or economic-oriented media outlet believe that we are in a recession and humans are doomed, with the rapid advancement of AI. At least, that is what the Gen-Z and millennials have been lately echoing. People will lose jobs to AI. AI will become smarter than us and use its power against us. This sounds like a sci-fi movie. Let’s get back to reality.

Evolv Kickoff Roadshow hosted a series of tech founders, CEOs, and VCs who share insights on the current advancement of AI, the entrepreneurship landscape in Silicon Valley, and how to set up for success. Think India for success.

Shruti Gandhi, Founder and Managing Partner of Array Ventures, speaks at the Evolv Kickoff B20 India Roadshow held in Palo Alto, Calif.
Shruti Gandhi, Founder and Managing Partner of Array Ventures, speaks at the Evolv Kickoff B20 India Roadshow held in Palo Alto, Calif.

The panel that caught our attention focused on the current fundraising climate. It is no secret that investors have become more conservative with their investments after some recent questionable evaluations and the collapse of various financial institutions. Shruti Gandhi, Founder and Managing Partner of Array Ventures, asks startup founders whether they will be relevant in the next decade with the rapid advancement of AI. Most founders must get this reality check to reimagine the company’s future and stay relevant. Although a startling revelation for many founders, Gandhi says it is a positive exercise. Gandhi also believes that AI still has significant potential to solve many problems. Content moderation, reducing spam, and cybersecurity are some areas where AI can make a positive change. There is still a lot of scope for AI as we still haven’t realized its full potential.

Ankur Prakash, Partner at Liberty Global Ventures, speaks at the Evolv Kickoff B20 India Roadshow held in Palo Alto, Calif.
Ankur Prakash, Partner at Liberty Global Ventures, speaks at the Evolv Kickoff B20 India Roadshow held in Palo Alto, Calif.

Ankur Prakash, Partner at Liberty Global Ventures, agrees with Gandhi and believes that the cloud and semiconductor industry is due for significant funding. Prakash says that Microsoft’s move towards AI was all about its cloud business. Increase usage of AI leads to increase usage of their cloud infrastructure. Prakash also makes the case for semiconductors as they have been underfunded for the last decade. There is a significant opportunity as there will always be a need for semiconductors. Prakash says that investors invest for the long term so he is still very bullish about Silicon Valley.

Gary Gauba, Founder and MD of The CXO Fund, speaks at the Evolv Kickoff B20 India Roadshow held in Palo Alto, Calif.
Gary Gauba, Founder and MD of The CXO Fund, speaks at the Evolv Kickoff B20 India Roadshow held in Palo Alto, Calif.

On a more practical and logical note, Gary Gauba, Founder and MD of The CXO Fund, had some interesting insights on the potential success of an entrepreneur in today’s rapidly advancing tech world. Gauba says to follow the fundamentals. Sustainable profitability and providing value are what matters to VCs the most. Gauba provides an example of a mistake often made by entrepreneurs: “One thing which I really hate when the entrepreneurs there is a lot of money now I want to get an office in Palo Alto. guys don’t do that all right okay it does not really mean your office could be in the shack right as long as you are creating value.”

South Asian community in the Silicon Valley attend the Evolv Kickoff B20 India Roadshow held in Palo Alto, Calif.
South Asian community in the Silicon Valley attend the Evolv Kickoff B20 India Roadshow held in Palo Alto, Calif.

The whole idea is to follow the fundamentals of running a business. The market might not be as favorable but that doesn’t mean there is a lack of opportunity. There is significant opportunity in Silicon Valley. Just don’t be greedy.