This was an exclusive meetup for aspiring healthcare entrepreneurs offering insights into healthcare and how a venture studio works
2070 Health, India’s first healthcare venture studio, hosted the 2nd edition of All Things Healthcare in Bengaluru last week. This was an exclusive meetup for aspiring healthcare entrepreneurs offering insights into healthcare and how a venture studio works.
The event opened with Dr Pankaj Jethwani, CEO, 2070 Health shedding light on the profound changes witnessed in India’s healthcare sector, particularly in the wake of the COVID-19 pandemic. With the industry currently valued at a staggering $400 billion, and over 400 million users experiencing healthcare through technology, the potential for innovation and growth is unprecedented. Dr Jethwani stressed that healthcare, more than other sectors, demands a long-term commitment, requiring both time and patience. It’s a sector where the central focus remains on patient well-being, not just quick financial gains.
The event also featured an engaging fireside conversation between Suryansh, Co-founder of Elevate Now, and Dr Jethwani. This conversation provided a glimpse into the journey of Elevate Now and its approach to revolutionise weight loss in India. Suryansh candidly discussed his own personal journey with weight, and the challenges faced in healthcare entrepreneurship, particularly in creating the right ecosystem partnerships. He highlighted how the risks in healthcare outweigh any other sector, and thus put tremendous responsibility on founders. In his words, “In non-healthcare spaces, you can offer a coupon and ask for a second chance if you make a mistake. In healthcare, you don’t have that luxury. You have to get it right the first time.” The discussion also brought up the changing dynamics of healthcare startups, where the focus is shifting from raising just capital to demonstrating value creation for consumers.
The dialogue with Suryansh and the other founders in the room brought out specific challenges while building in healthcare. Creation of the right partnerships, access to domain expertise and finding the right approach to PMF were some of the key themes that were discussed. A follow-up conversation with Namit Chugh, Head of Investments, 2070 Health & Nikhil Hegde, Head of New Ventures, 2070 Health detailed out how a venture studio can offer significant support to first time founders across identification of the right idea, finding the right talent and getting access to ready tech stacks, marketing, and distribution know-how. Moreover, venture studios like 2070 health come with deep industry knowledge and playbooks that help founders build cheaper, faster, better.