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Nov, 21 2016

​Indian Healthcare start-ups face more problems than global counterparts

A report, released in October, by Nasscom has mentioned 'there are more than 250 start-ups in the health care space in India currently and of them more than 100 were incorporated this year. The sector received a total funding of about USD130 million.'

​Indian Healthcare start-ups face more problems than global counterparts

S D Shibulal, former Infosys Chief Executive and co-Founder of Bengaluru-based Axilor Ventures, said that start-ups in the health care and biotech sectors "do not have a proper platform or framework to do high-end testing and lack adequate avenues to collaborate with hospitals."

In an interview with Business Standard, he said, "In health care, the right frameworks do not exist. For example, start-ups do not have access to doctors, technicians, or labs and all these frameworks need to be built. Axilor is trying to build these frameworks."

The start-ups in the Indian biotech and health care are facing tougher challenges as compared to their global counterparts. Challenges such as funding and lack of right platform to test their products are causing major draw backs for these start-ups.

A report, released in October, by Nasscom has mentioned 'there are more than 250 start-ups in the health care space in India currently and of them more than 100 were incorporated this year. The sector received a total funding of about USD130 million.'

The report added that 'more than 60 per cent academic incubators in India have health tech product start-ups as one of their prime areas of focus.'

Shibulal said, "In Silicon Valley, there are about 10 angels for one entrepreneur, whereas, in India, there is about one angel for 10 entrepreneurs. That must change."

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