James Matthews, an awesome friend and entrepreneur invited me to attend the Health 2.Zero Conference for entrepreneurs and healthcare specialists these days and talk approximately Health Tech investments. About 80 to 100 parents have been in attendance, proposing about 30 marketers, 25 buyers and the others were from Pharma organizations, Hospitals and diagnostics chains.
Our panel featured an entrepreneur (Poonacha), a healthcare product agency (GE) VP (Partha) and Ravi from Zanec.
There were four startups that have been allowed to pitch the traders, and even as there has been no dedication from the traders, the startups have been not trying to boost without delay both. This turned into a session for them to get some remarks from capacity traders.
There are 3 excessive stage observations that relate to investing and entrepreneurship inside the space that I want to spotlight first after which speak approximately the thrilling companies.
1. Older Indians typical have little recognize for preventive healthcare or do now not fee it at all. If you are in the well being space or “be healthful” space, the market can be quite small is what I gathered. I pay attention many entrepreneurs say their target market is 25-40 12 months olds. I assume the actual marketplace for well being products, services and solutions is 25-30 yr old’s. How can I show that? Look at gymnasium club in India. There are 70K individuals for the three hundred+ gyms and the expenses are fairly high. Why? Because gyms are a luxury object in India. The common cost of a club is between INR 500 in keeping with month (non chain) to about INR 4000 (Gold’s gymnasium). It is not that older Indians dont want to stay wholesome. They think that buying “health” is puffed up.
2. Going after answers for medical doctors, clinics or hospitals is a curse from hell for startups. Most smart marketers are focusing on the affected person (consumer) via the influencer (health practitioner). Which manner that for healthtech startups, distribution and sales are less of an issue, however purchaser adoption and greater importantly usage is extra essential. Most customers in India don’t have the field to master wellbeing and awareness on preventive fitness selections, and those that do are a ways and few among.
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3. Indian medical doctors see almost 2-three times the wide variety of sufferers a day as American docs do, and nevertheless make 1/3 as an awful lot them. Solutions to make doctors more effective via teaching patients, shifting extra paintings to nurses, and many others. Will possibly do well.
Here are the 7 exciting groups I met on the convention nowadays, and here's a precis, in the order of when I met them.
1. Diabeto: is a diabetes management analytics software and device. It transfers your glucose readings from your Glucometer into your phone and cloud so your caregiver can monitor it. Rather than do a whole lot of automation, if you want to pressure the employer to get an FDA approval, they do just enough. Very thrilling organization and a neat product and they have many inquiries from vendors from different international locations. The international diabetes care market within reason massive so I assume they're on their manner to elevate a few amount of early seed investment.
2. Zest.MD: is an internet medical institution for nutritionists. The SaaS answer facilitates carry any nutritionists services online so consumers can overview and purchase thru the net. Longer term the corporation is seeking to be a curated market for humans wanting to make healthy picks. I thought this become pretty exact, but I am still skeptical of the dimensions of this marketplace.
3. Praxify: is a related patient records management for docs and patients. They have been placed as an EMR (Electronic Medical Records) but the marketplace for this is long gone and lifeless. The average medical doctor hates using the EMR product and the sufferers dont apprehend its advantage sufficient. Good crew and product, so that is a business enterprise to watch. Disclosure: they're a Microsoft Ventures company.
4. Fitternity: is a directory, content material internet site, ecommerce platform and database for humans wanting to be healthful. The product is aimed toward folks that care about being suit, by imparting advice, products and service referrals. I even have seen many such offerings, so I am not certain what their differentiation is.
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Five. Care Companion: is a schooling device for care-givers: nurses, better halves, dad and mom, and so forth. Since docs dont have time to provide an explanation for the same things to each affected person’s care givers, this product pursuits to provide the usual advice my approach of films. E.G. Assume that your baby, after a doctor’s go to has to to avoid positive ingredients, take pills inside the morning and night, but no longer afternoon, and many others. This product will offer those easy instructions by means of ailment or symptom.
6. Cyber Liver: They offer a breathalyzer which nudges you to keep away from ingesting an excessive amount of alcohol. This is a extension (hardware) to your iPhone or Android cellphone that you breath into each time you drink. It keeps music of the way a lot you drink each week and uploads that to the cloud, ensuring which you recognize if you had too much to drink. Very exciting idea, however users must recollect to breath into the device once they eat alcohol on every occasion, and I don think they'll do that frequently sufficient to make a difference.
7. MTatva: is a prescription transcription and alerting tool. Your prescription is scanned at the health facility to the cloud and your dosage and medicines are sent through SMS. Then it additionally ship the prescription on your preferred pharmacist thru SMS and will warn you every day and time with the dosage information. I preferred the idea, but adoption is presently sparse.
There have been some other companies, measuring (the use of a couple of sensors) the load of your pill field to intelligently provide you with a warning whilst you dont take your medicines, and so forth.
Overall the sign to noise ratio at this event turned into VERY high. James has curated an awesome set of marketers and I was thrilled to see this type of diverse set of parents innovating in Heath Tech.