GE Healthcare, the $18 billion healthcare technology, launched five.eight, the first healthcare accelerator by GE Healthcare. The programme will focus on startups post Series A funding. At the launch, YourStory had a chance to speak to Terri Bresenham, President and CEO of GE Healthcare’s Sustainable Healthcare Solutions.
Terri Bresenham told us of the plans she had with five.eight and the company’s India plans:
YS: What kind of startups are you looking to fund or partner with?
Terri Bresenham: When you look at healthcare you cannot look at a single point care. There are multiple pointers and factors, and we want solutions that can look at healthcare holistically. Our focus will be around cancer care, cardiac care, maternal and child care. The solutions have to be affordable and accessible. We are not looking purely at device or technology or service. Many can be a combination of different elements.
We are working with the investor community, where they have done research in the space and have companies that have a proven product in the market. They are looking to scale and we have a capacity to give them support. At this stage, these companies aren’t looking at investment per se, but more of a strategic partnership.
YS: Why did you choose Bengaluru?
Terri Bresenham: Bengaluru is the home for our global healthcare business. Several areas of our R&D is located in the city. We are also working on several manufacturing elements, service elements in the city. It is where we have our critical mass across all those different aspects of business.
YS: How important is India to your overall plans?
Terri Bresenham: India has the world’s most affordable healthcare system across the globe. Countries around the world are struggling with the idea of bringing in affordable healthcare in the country. There are many opportunities in India, especially when you look at the market. The challenge in fact will be to be focussed on solving specific problems and needs.
There is a problem to be solved everywhere. But the idea is not to do one piece of 10 things as it won’t have the needed impact. We are bullish about what India might be able to do to the overall healthcare ecosystem. If you fix the gaps today in India, it will work towards reducing the cost of healthcare across the globe.
YS: What is your take on the Indian entrepreneurs?
Indian entrepreneurs are technologically very savvy and have the latest understanding of tech. They have a fierce tenacity to not be cynical and not give up and be optimistic. They come in a lot of guts and grit as they have tough challenges to solve and have tough conditions. We believe that it is this grit and tenacity that builds and brings global solutions.
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