Several entrepreneurs in India I come across have an ambition to build steady-growth, profitable & fundamentally solid businesses. While they’re not fit for VC funding (size/speed expectation mismatch), debt availability is also low for them early on. And so their business suffers and such entrepreneurs feel orphaned by India’s investor ecosystem.
While royalty-based funding has been around globally it hasn’t surfaced in India yet. This YC demo day promised that the time for income share funding might have come in the US, but will take time before we see it here.