Published: 14th November 2019
Have an idea that can change healthcare? IIT Hyderabad's CfHE is looking for you
The Center for Healthcare Entrepreneurship of IIT Hyderabad has opened applications for it's unique, one-of-a-kind fellowship. And this is what it is all about
After three successful years, IIT Hyderabad's Center for Healthcare Entrepreneurship (CfHE) is inviting applications for its fellowship for the year 2019-20. Focussed on achieving solutions to the problems persisting in the healthcare industry and similar to a programme of Stanford University, the fellowship will begin from January 2020.
When we spoke to Prof Renu John, Co-Head of CfHE and Head, Department of Biomedical Engineering, IIT Hyderabad, about the fellowship, he started by telling us how, "Applicants can be from any field — Engineering, Medicine, business or even entrepreneurship. We don't even want them to come with ideas. Our approach is different, we just want to see a fire and passion for entrepreneurship in them." Fellows will receive a stipend of Rs 50,000 per month during the first year of training.
What it entails
The fellowship includes deep clinical immersion in both private and public hospitals. This could be at Nizam's Institute Of Medical Sciences, Kamineni Hospitals, Asian Institute of Gastroenterology or other hospitals in the city of Hyderabad. "Everyone starts with a clean slate," asserts the professor. He goes on to say how the fellows will shadow doctors, nurses, patients and others and observe them keenly. After which, the fellows need to come up with an observation of the problems faced by those who they were observing then, these problems are vetted against the market needs, the needs of the stakeholders and so on. Statistical analysis will be made and an Unmet Needs Statement will be presented. And from there, internal and external mentors will do their best to nurture the idea into a start-up.
Accelerated and how
Going forward, if the start-ups see success in terms of prototypes, the centre will offer a seed grant of Rs 25 lakh too. Successful start-ups like BeableHealth, NeMo.Care, Kvayat Medical, Heamac healthcare and many more have been part of the fellowship and then go on to be nurtured by CfHE. They have raised as much as `4 crore, have become independent and started growing on their own. A few of them have even started selling their own devices, the professor informs.
As he signs off, Prof John says, "This is a one-of-a-kind, prestigious fellowship and all the resources are provided by us including mentors and support. We even have a circle of VCs who the start-ups can be exposed to." The last date to apply is November 30, 2019.
Interested candidates can apply here bit.do/cfhe-application2019-II