‘Health Startup Challenge’ Makes it Big!
The Grand Finale of ‘Super Starter Inc. - The Healthcare Start-up Challenge’ was held recently at Fortis Memorial Research Institute (FMRI), Gurgaon. FMRI is the first healthcare delivery institution to have pioneered the startup challenge which will act as a launch pad for new, previously untested and unimplemented healthcare technology/idea.
Close to 50 entries were received from all over the world. After a detailed scrutiny by an esteemed panel, consisting of Saurabh Srivastava, Padmashree awardee and former chairman-NASSCOM; Ajit Singh, MD-Artiman Ventures; Amit Varma, MD-Quadria Capital; Varun Khanna, Chief Commercial Officer- Fortis Healthcare; Col Harinder Chehal, COO-Fortis NCR and Ritu Garg, Zonal Director, FMRI Gurugram; 10 finalists were selected and the final presentation of ideas was held today at Fortis Memorial Research Institute. The top three teams which made to the finale were Lyfas, Keyer and Team Shubham Mishra.
The thought behind this initiative was to provide a platform to young entrepreneurs where they could have seamless access to clinicians, patients, data, and infrastructure and hospital ecosystem.
The winning Team Shubham Mishra said, “Winning this challenge will give us the much required launchpad. Our work is going to be a game changer, helping us bring about a massive change in the healthcare landscape. We are hoping that through our work we are able to develop a point care diagnosis equipment which can detect different kind of biological analytes within a minute, at an estimated cost of just 20-25 rupees."
The 2nd runner up, Lyfas, had innovated a non - invasive mobile diabetic screening device which would help address the challenges of diabetic screening, monitoring and real - time streaming of results. The 1st runner up, Keyer, had created a device which enabled contraction monitoring during the intrapartum period which will be instrumental in saving of lives at birth (for both the mother and the baby).
Dr. Ritu Garg, Zonal Director, Fortis Memorial Research Institute said, “I would like to congratulate Team Shubham Mishra for winning the 1st ever ‘Super Starter Inc. - The Healthcare Start-up Challenge’. Ten ideas were presented that were unique and exemplary in their own way. We selected Team Shubham Mishra as the winner as their idea had the most potential for value based real time outcomes. I would also like to thank everyone who enthusiastically participated in the event and made it a huge success. We will surely be gearing up for a second edition soon.”
Talking to IAAE Sub Editor Gairika Mitra, Garg tells us about their contribution to the Indian startup ecosystem.
How do you think your contribution would affect the startup ecosystem?
The thought behind “Start-up Inc Challenge by Fortis” initiative was to provide a platform to young entrepreneurs where they could have seamless access to clinicians, patients, data, and infrastructure and hospital ecosystem.
This would help them build their products keeping in mind the real time outcomes. The winners will be given four months’ time to implement, test, re- design their idea at Fortis Memorial Research Institute. The idea is to gain opportunity to showcase talent, meet and woo capitalists & investors, earn credibility in association with Fortis, instant entry into the mindset of masses and product’s feedback by industry’s thought leaders.
How much did you invest approximately?
Our investment is to provide them platform which is difficult to find. Besides that we will mentor, handhold entrepreneurs through their journey. We have also connected these startups with angel investor network and help them raise funds.
Is this a part of your scaling up process?
This is a thought leadership initiative where we have taken a first step in the industry to adopt and encourage innovation. It will reduce lead time for incubation of ideas and get them on ground much faster
What kind of genre are you looking to invest in?
We are interested in any idea/innovation which helps patient journey either through offering better outcomes, better experience or make it more affordable and accessible to wider section of society.
Any advice for wannabe start-ups?
Startups need lot of courage, hard work grind. If you have already started working on an idea or a dream, it has already set you apart from many others….so, just gear up and go for it!