AnarchyzChild
I'll give you my assessment, but take it with a grain of salt! I am by no means an expert.
With a cursory look, I would suggest you not apply in R3, but wait for R1 for September intake. R3 is very competitive, very little chance of scholarship, etc etc. And considering you are just doing it for a lark, you must be way behind on your essays, even if you have started. Essays are important!
Looking deeper, you seem to be light on experience. I would suggest at least 2 more years of work ex. Since you fall in the dreaded Indian IT Male category, things are tough as it is. With less work ex you would be at a disadvantage. Your GMAT is ok. The average is 710 or thereabouts, but being an India better bump the average at least 20 points if not more.
Doesn't mean you can't get in, but it'll be tough! I got in with a 720 too, but have nearly 7 years of work ex (5.5 in US and Europe) and am not from the IT domain.
Regarding the start up? I would lead with that! How did you bring it together, why did it fall apart, etc! One failed startup experience is worth many in a regular job.
Rest of your profile is pretty good. Hope that helps.
hmmm, firstly, thanks for taking time out for assessing my profile. I had given the GMAT back in the final year of college, i understand it has to be improved.
Inter alia, have to share a good news and its kinda related to the "dreaded Indian IT Male" aura. Yesterday Google offered me SE (Android cloud) at their San Monica office. this offer comes at a time when I wish a switch from the IT field. Say, If i can manage even a short period of internship that exposes me to Finance would that boost my chances in my subsequent quest for an MBA (Fin.) or should i stick to my core strength. Finance interests me, and have been self tutoring myself. Which path would you be suggesting. Sorry for queuing up the queries, but given your current profile you would be best to judge.
Regards.
The important question you want to ask yourself is the reason behind your wish to switch from IT. If you do not find an SE role interesting enough or if you are more interested about reading M&A news than about the next release of python then get a finance internship if you can and get an MBA. If you love IT and enjoy playing around with Android and are just considering a switch to business only not to be an "Indian IT male" then go for Google, they are a great company where you can challenge yourself and be surrounded by many intelligent and capable people.