A match not made in start-up heaven

The current turmoil in the start-up world isn't all about the so-called funding winter. A bigger problem is the chasm between the goals of founders and investors

When online grocery delivery outfits first started in India, they intended to solve a problem, one of access, by bringing the producers and consumers closer in the — ahem! —food chain.

The International Finance Corporation (IFC), a multilateral development finance institution, where I used to work, thought it fit to invest in BigBasket. IFC’s investment officers, during the several review meetings, talked about the strong “development angle” of eliminating half a dozen intermediaries to increase remuneration for producers and reduce prices for consumers. That created value.

These days, online grocery delivery is about shaving minutes off the delivery time. That