Oct 11, 2015

Healthcare Startups in India – Hyderabad is the next big hub

Healthcare is undoubtedly one of the largest sectors in India comprising of hospitals, health insurance, medical tourism, IoT medical devices/equipment, clinical trials, telemedicine, outsourcing etc. Two major reasons that have fuelled the growth of private healthcare in Hyderabad is the manifold increase in population between Shamshabad and Hi-tech city and medical tourism. The government has given up on tertiary care and hence the private sector has led the growth. Promoters have realised that the sector has become lucrative in Hyderabad,

Market Size - Health care in India
Healthcare business in India accounts to 5% of GDP currently and would continue the same in 2016. However, the spending is estimated to rise over 12% YoY which is going to be a $280 billion by 2018. Despite of Government’s spending and publicity on healthcare improvements, there is a growing amount of burden on patients and their families which leads India in the world when it comes to the out-of-pocket spending. World Health Organization (WHO) figures of 2012 say that just 33% of Indian healthcare expenditure comes from the Government sources and out of the remaining private spending, 86% comes from Out-Of-Pocket of the population.

Market Size - eHealth-mHealth Global
The global e-health market is estimated to grow to US $160 billion by 2015 at an average growth rate of 12%-16%, according to GSMA, and the global m-health market will be worth approximately $23 billion by 2017.

This seems to hatch a very dynamic and promising big business model for improving the lives of the people of India and many aspiring Startup Founders and CEOs in Hyderabad are willing to seize the opportunity to making an impact on the society.

Headstart Startup Saturday
The recent startup meet held at Hyderabad on Saturday 10th October, with a theme named “ Hyderabad -  Enabler for Healthcare Startups” organized by a Headstart Network Foundation which facilitates entrepreneurial learning,  hiring,  marketing insights and peer mentoring amongst the Startups and addresses their issues through initiatives with the vision to ‘Change the World through Entrepreneurship’ is an eye opener for budding entrepreneurs who dreams to make a disruptive business impact in the healthcare industry.

The Saturday Startup meet-up started with a keynote question to the audience
‘Who would like to be the next Uber in X (Healthcare)?
Speakers at Headstart Startup Saturday
Distinguished speakers from different walks of life and the startup world especially related to the healthcare industry were invited to speak and share their experiences, innovative thoughts, collaboration, business challenges, opportunities, funding and support that is for sure benefitted the attendees who were mostly from the startup world and/or planning to be one among them in the healthcare industry.

Some of the featured startups and speakers are: Prof. Suman Kapur, Founder xBITS, L Ravikanth and Venu Madhav of PlanYourHealth.in, Rahul Reddy, VP Client Management and Dr. Suresh, Chief Nutrition Officer of Nutrifi, Y Venkat Reddy of GeneSys Biologics, Mohammed Abubakr Founder and CEO of BookMeds.com, Dr. R Niranjan, CEO& Founder of Healthisall.in

The speakers shared their vision and experiences in the areas of healthcare startups, focus areas on rural and cities, lack of tools/devices and the need for innovation, research and development, potential revenue models, customization of insurance policies, packages and programs, preventive medicine, nutrition, medical tourism, access to valuable medical information by end users, tapping technology and need for healthcare mobile Applications, digital clinics, online consultancy, scalability and growth factors.
Panel Speakers

The second part of the discussion hosted by Mr. Ramesh was a major thrust and a real enabler to healthcare startups by the distinguished panel members to CEOs, Founders and the larger audience present.

Dr. Ramesh Byrapaneni who is a Venture Partner with Ventureast Tenet Fund,  a premier seed-stage VC Fund consisting of investments across technology and technology-enabled sectors spoke about the need to bring in the various medical laboratories under one platform, connectivity of all incubators, techies and medical professionals to have a common meet up regularly to share their experiences and challenges and also emphasized the need for healthcare professionals teaming up with engineers, designers  and innovation centers come together under one platform to solve the problems of the society in the area of healthcare.

Dr. Ramesh was Chief of Cardiology and Managing Director at Medwin Hospital. He is also the President of TiE Hyderabad and one of the Founding Members of Hyderabad Angels.
Mr. Surya Rao, Managing Director, Technology Business Incubator of BITS Pilani Hyderabad Campus spoke about the various opportunities and facilities available at their incubation center that aims to provide a low cost and resource intensive sandbox where entrepreneurs can develop their product, services or process ideas towards commercialization in the areas of 3D Printing, Bio-Degradable filaments, Passport Web Services, diagnostic technologies, biosimilars, drug discovery and genetic diagnostics etc.

TBI@BITS Hyderabad provides office and lab space equipment, seed funding and mentorship from an international network of successful business leaders. Prospective entrepreneurs are invited to engage with TBI in a friendly and hassle free environment where their staff will quickly analyze the requirements and provide custom-made services and solutions in a timely manner.
Dr. Anthony Vipin, Consultant, Comprehensive Ophthalmology Service of L V Prasad Eye Institute who likes to say that is an Ophthalmologist by passion and an Innovator by choice spoke about the opportunities, challenges and various research advancements in the healthcare industry like Open Source 3D printing solutions allowing medical manufacturers, doctors, and researchers to create parts for patient care and advanced experimental work.

Another area that was highlighted in the meetup and cannot be neglected is Telemedicine which can bridge the rural-urban divide by extending low-cost consultation and diagnostic facilities to the remotest areas via high-speed Internet and telecommunications.

This gathering has also threw open the doors to the prospective healthcare job seekers especially in the paramedical and administrative professionals. The Government of India is announcing a new health policy to focus on reducing malnutrition, improving the use of essential medicines, expanding immunization, modernizing public hospitals, and instituting a better tobacco control program. The government wants a holistic health care system that is universally accessible, affordable, and dramatically reduces OOP expenditures.

By and Large the gathering was a successful event and a progressive platform for future events in the healthcare industry. www.Startuptimes.in wishes and encourages the organizing team of Headstart Saturday Startup to conduct more such innovative and informative events that benefits the young entrepreneurs and the society at large.

The delegates and organizers of Startup Saturday pose at the event of Hyderabad – Enabler for Healthcare Startups

Dr. Ramesh Byrapaneni (center), Dr. Anthony Viin (left) of LVPEI, Hyderabad and Surya (right) of TBI BITS Pilani

Tags: ehealth startups, mhealth , hyderabad, evaidya, bookmeds, xbits, planyourhealth,


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