How do VCs evaluate mobile opportunities in India?

Mobile has been on every entrepreneur's mind for a couple of years now. Being the first screen for the millions of users now coming online, building for mobile makes a lot of sense, especially in the emerging economies. And VCs also recognise this opportunity and have been bullish about investing in mobile first or mobile only companies. At MobileSparks 2014, YourStory's conference for mobile, some of the best startups showcased and very relevant discussions took place. One amongst them was the VC panel on how investors evaluate mobile opportunities in India. Moderated by Govind Shivkumar (ex-LGT Ventures), the panel had Bharati Jacob of SeedFund fame, Karan Mohla of IDG Ventures India, Karthee Madasamy of Qualcomm Ventures and Rutvik Doshi of Inventus (India) advisors: