1. Tell us more about your company and your journey.
About my startup, it is an innovation technology platform for the education and healthcare technology domain. We have designed a hardware and software based solution for pregnant women catering to the problem related to maternal and infant mortality, which would reduce the mortality rate and enhance the technology availability in the rural sector specifically at lower and affordable cost.
2. How did you come up with this idea and go about executing it?
I have started this idea while working on a medical sector project where I got to know about a situation related to pregnancy domain and on further working upon the same I was able to come up with a solution, further designed and prototyped the same and finally tested which came out to be successful and on positive growth side. We as a team started bootstrapping money for further R&D and continued developing before coming out with a proper prototype.
3. What has been your biggest challenge that you faced and how did you overcome that?
Our biggest challenge was lack of knowledge in the medical sector which we resolved by research on the internet and by connecting with medical practitioners. Secondly, working on something new is always challenging and has financial burden on us for which we started doing internships to collect money and further went to some competitions, events and hackathons.
4. What do you think are the most important qualities of a successful entrepreneur?
Being consistent in every domain of work is most important and not getting stuck around a single possibility is important one should be open to innovate and work and develop upon.
Efforts are needed not only in the domain of development and research there are several other factors which need to be considered for which being smart and good decision making is important.
5. What are some of the most important factors for running a successful business?
- Being Consistent
- Have a psychologically open environment and mindset within the team and work via discussion and brainstorming.
- Being ready with possible alternatives for most possible things.
- Networking and connecting well with others and possible stakeholders.
6. What are your tips for first time and aspiring entrepreneurs?
For a first time startup there is a need to explore, research and network to the best possible extent, start with understanding the problem, customer, market, competitor and possible solutions & related offerings.
Another most important thing is having a positive and growth mindset is very essential to build upon as a company in the startup ecosystem.
7. How can one overcome a hurdle of lack of funds when starting up?
By bootstrapping, which basically means generating possible amounts from within startup team members, as individuals maybe by doing internships or participating in events or hackathons.
- Chinmava Naik
Interviewed by- Swapnil Parowal
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