Investment 2015-05-07

Healthcare-focused incubator HealthStart to set up new angel network

Healthcare-focused start-up incubator HealthStart has announced to set up a new sector focused angel network which will make 8-10 investments in a year.

Healthcare-focused incubator HealthStart to set up new angel network

Healthcare-focused start-up incubator HealthStart is setting up a new sector-focused angel network, as reported by leading news agency VCCircle.

The network would make about 8-10 investments in a year, with the investment ticket size of Rs 1-2 crore with an exit period of around two years.

Confirming the news, Founder and Chairman of HealthStart, Pradeep K Jaisingh said, “We were approached by many companies which have crossed the stage of being a part of an accelerator programme but wanted funding; so we decided to set up an angle network.”

Expecting to become functional by June, Jaisingh further informed, “The network will comprise of 100 professionals from domains like pharmaceutical, diagnostics, hospitals, devices as well as from the private equity and venture capital space. “We are looking at people from India as well as from the US, Europe and Singapore.”

The focus areas of the network within healthcare would include technology, mobile applications, chronic disease management, preventive healthcare and eCommerce.

Significantly, HealthStart was started as an accelerator for healthcare start-ups in 2013 and has incubated five companies so far. It plans to incubate 10-12 start-ups this year, with a focus on health-tech domain with a ticket size of Rs 20 lakh each.

Its existing portfolio companies include ObiNo, Gympic, CarewayHealth, Elementia Wellness and Healthians.
“We had our first accelerator programme last year with Indian School of Business, Hyderabad. We are going to do this again this year and are looking at India as well as global partners,” said Jaisingh.

An alumnus of IIM Ahmedabad, Jaisingh was Managing Director and CEO of International Oncology, a Global Cancer Care and Research company. While the other founding partners of the venture includes Raj Airey and Suhail Chander.

Airey, a UK-based NRI who was previously CEO of the India unit of NYSE-listed healthcare company Baxter. He is also the founding partner of Wizzcare Home Health Solutions, which provides home-based healthcare support to families and senior citizens living in India. While, Chander leads IndusInd Bank’s corporate and commercial banking business.
 

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