The Indian healthcare industry is currently witnessing one of the greatest transformations in its history. From an industry that was previously dominated by massive hospital chains, this industry is now experiencing transformation driven by entrepreneurial vision, diagnostics using artificial intelligence (AI), telemedicine, patient monitoring, and specialized networks. There are currently thousands of health-tech startups in India, and this figure keeps increasing because of rising investments from venture capitalists and the government through programs such as Ayushman Bharat and National Digital Health Mission.
This is the landscape in which Dr. Saarthak Bakshi has built his career. He is the Founder and CEO of Risaa IVF, a fertility care network he grew from a single Delhi clinic into a multi-country presence across India, Nepal, and Bangladesh, and he is also an active angel investor through his platform, Neos Angels. His experience is in the realm of running a healthcare company while influencing the surrounding ecosystem, and this has allowed him to see things slightly differently from what a startup CEO would see when talking about the future of the industry.
There has also been an increased influence of artificial intelligence in the industry, with diagnostic tools, for instance, becoming faster and more predictive as well, and investors have noticed this. This has put healthtech in the same group as fintech and AI companies in terms of funding. But for Dr. Saarthak Bakshi, none of this growth happens in isolation, it depends on experienced entrepreneurs choosing to reinvest their time and money into the next generation of founders.
Neos Angels has helped him invest in over 30 early-stage ventures in sectors such as health tech, ed tech, consumer brands, and social impact by providing both money and mentorship to the founders who have not yet found their way around the world. One thing he often talks about is the philosophy of “fail fast and rise early,” telling young entrepreneurs to not hesitate when implementing their innovative ideas for fear of failure.
Such support is vital, as starting a business in the health care industry requires one to deal with lots of regulations, gain patients’ trust, prove clinical benefits, and ensure financial sustainability. The mentorship and funding from people who’ve already accomplished all of this may be what determines whether the idea becomes reality or remains a thought on paper.
Given that the Indian healthcare industry continues to grow in smaller cities, adopt technology innovations, and attract investments, its future lies equally in the hands of these newcomers and old industry players, including such as Dr. Saarthak Bakshi, who has made the decision to support them.
