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    IIT alumni duo Raj Mashruwala, Avinash Manudane to fund ideas in healthcare space

    Synopsis

    Mashruwala, who was one of the core team member of Nandan Nilekani's Aadhaar project, wants to replicate the system for healthcare.

    ET Bureau
    MUMBAI: Raj Mashruwala and Avinash Manudane, two IIT Bombay alumni, want Indians to come up with solutions to India's varied healthcare issues. Their wishes are not mere empty talks, the two Silicon Valley investors are offering 50,000 fellowship every month for two years to any Indian who has an innovative idea in the healthcare space.

    The Centre for Healthcare Entrepreneurship at IIT Hyderabad will throw its door open to a maximum of 12 potential entrepreneurs who will take up a residency programme in the campus where candidates will receive mix of classroom knowledge and also cut their teeth by spending a year researching on field with various medical professionals, investors on trying to bring a solution to healthcare need.

    “Most of the innovation facilities in India are either too classroom oriented or merely serve as a cheap rental space,“ said Raj Mashruwala, angel investor and IIT Bombay alumni. “What we want to do is bring together the interdisciplinary knowledge along with VCs, clinicians and the industry to come up with a healthcare solution for India,“ he added.

    Mashruwala, who was one of the core team member of Nandan Nilekani's Aadhaar project, wants to replicate the system for healthcare. Aadhaar has connected over six million Indians, Mashruwala said they want to do the same for healthcare.
    The fellowship is designed in such a way that the first year the candidates will spend time identifying need by hitting the ground working in hospitals with doctors and medical professionals to identify the problem, following which the teams will create a prototype and pitch the idea to investors who will later mentor them on fine tuning the business plan.
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    The Economic Times

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