Startup Leadership Program (SLP) – Hyderabad Chapter organised a special session titled ‘The Future of Health’ at T-Hub in the IIIT Campus on Friday. The interactive program had entrepreneurs both young and old, investors and other healthcare enthusiasts partake in a lively discussion on the advances that are reimaging the healthcare industry for the new age.
Dr. Niranjan Ravuri, CEO, Caremotto, the keynote speaker addressed the gathering and spoke on the importance of preventive healthcare in a rapidly urbanizing world. “Doctors and hospitals are practicing medical care in the name of health care by fixing sick bodies and acting as giant repair shops”, he said. He also mentioned that “India has a large proportion of young people. For the country to reap the benefits of this rich demographic dividend, it is important to ensure that they are healthy and avoid getting lifestyle diseases like type 2 diabetes and cancer. The focus of both patients and healthcare providers should shift from reactive care to preventive care. It is also important to ensure affordable care for those who need it, given that about 65% of Indians are uninsured. Start-ups have great opportunities to make these shifts happen. We are excited to be working on both these areas.”
The panel discussion that followed had notable speakers who shared their opinions on the oportunities in the healthcare sector for prospective entrepreneurs, by citing several of their own personal experiences.
Mr. Sanjay Jesrani, Founder & CEO – Go North Ventures focused on the importance and need of having strong domain expertise in the founding team to become successful. Speaking from an investor’s point of view, he said that “There is a lot of talk around disruption, but investors are equally interested in simple yet efficient hacks that can scale well. The digital healthcare sector has a good mix of established players and new startups, and there are several exciting developments in recent years. So, the outlook for healthcare startups is robust in my opinion and it will continue to remain so for a long time. For example, in 2015, the funding for healthcare ventures totaled $9.4 billion.”
Mr. Dinesh Koka, Founder & COO – eKincare talked about the need to adopt a collaborative mindset. “When you are trying to disrupt an industry like healthcare, a top down approach does not work. Instead, startups need to work with established players to drive change from the grassroots”, he said responding to a question.
Speaking on the tremendous potential of innovation for startups in the healthcare domain, Dr. Anthony Vipin Das Head, Technology – LV Prasad Eye Institute said that “In healthcare, what matters the most is trust and transparency. If a startup fails in ensuring either, then they won’t go very far. Using simple technologies effectively can lead to vastly improved outcomes”, the recent controversy surrounding Theranos being an example.
Ms. Mansi Gandhi MD & COO – Doctor C who was a technology graduate from the prestigious Cornell University touched upon the importance of having someone with a strong healthcare background in every health startup. “It is hard to penetrate an industry like healthcare with just a great app. One needs to understand how the market works and build innovative services around patient needs”, she said.
In support to further develop the entrepreneurial ecosystem across all sectors, SLP Hyderabad also announced its registrations being opened for its next batch that begins in August, 2016. Interested startup CEOs can log onto http://bit.do/slphyd before the 31st of July, 2016 and avail a thorough understanding on topics like Idea Validation, Financial Modelling, Marketing Strategies, Fundraising, Valuation, Exits, Legal,etc. The participants will also be mentored from the successful entrepreneurs and can get opportunities to pitch their ideas to investors.
Apply for SLP next batch now and accelerate your learning experience! http://bit.ly/slphyd2017