1 / 9When Venkatesh Iyer co-founded Goli Vada Pav with Shiv Menon in 2004, he saw a big opportunity in selling affordable, clean, ethnic fast food to lower-income customers in India. 2 / 9Mr Venkatesh, now chief executive, saw a potential market of 500m mostly teenage and young adult Indians paying Rs10 (about 20 US cents) or more to eat a vada pav, a typical Mumbai street-food dish of a spicy vegetable patty in a bun. 3 / 9He was also counting on big social changes under way in India, including longer commutes for lower-middle-class Indians, who he noted 'don't have so much time for food.' 4 / 9Goli Vada Pav would occupy a potentially lucrative spot between traditional street-food vendors and global chains. The goal was to sell hygienically prepared food with an authentic touch. 5 / 9The company opened its first outlet in 2004 in Kalyan, near Mumbai, but soon ran into problems. The handmade patties varied in quality and had a short shelf life, and some were pilfered. Also, steep rises in raw material costs put margins under pressure.6 / 9In November 2006 Mr Venkatesh's bank gave the company 10 days to stop the losses resulting from these problems or repay the bank's loan.7 / 9While Vadapav was drawing the crowd, Venkatesh did many experiments. He brought various dishes like Paneer Vadapav, Shejwan, Mix Veg, Paneer, Aloo Tikka. Currently, they are also in great demand.8 / 9 Today Goli Vadapav has 350-plus stores across 100 cities and 20 states in India.9 / 9Venkatesh Iyer considers Infosys founder Narayan Murthy as his role model. Venkatesh also strives to educate needy and budding children.