Why Gautam Gambhir is betting on Made-in-India healthcare
In May this year, former India cricketer and Lok Sabha member Gautam Gambhir invested an undisclosed amount in New Delhi-based healthtech startup, which aims to help enterprises and businesses create a safe environment as India opens up after lockdown.
Credit: Gautam Gambhir, Former cricketer and current Lok Sabha Member
Speaking about his interest in investment, the former cricketer and Padma Shri awardee said the future of India depended on young entrepreneurs.
“Young entrepreneurs today are focused on changing the socio-economic situation and increasing resilience to make India self-reliant or atmanirbhar. Our country has so much intellectual capital that there is always a bright idea, product, or solution awaiting initial investment. I think the sportsman in me resonates with that feeling, which is why the interest to be a part of India’s entrepreneurial tribe,” Gautam told YourStory Media.
Need of the hour: healthtech
After closing his first deal with FYI Health, the Lok Sabha member is looking to invest in ventures working to help the nation during these unprecedented times.
“I have been looking for credible venture(s) that are in tune with present times, are scalable, and can help people and the community at large,” he said.
Gautam explained that one of the most important factors he considers while investing in a startup was the product and its credibility.
He added that healthtech was the need of the hour and would gain more importance in the future.
“Healthcare in India is set to hit new milestones with cutting-edge technologies like AI and ML. It is even more important amid the current pandemic, and a plethora of healthcare startups are offering myriad solutions. This illustrates that Indians are keen on better healthcare and living. I personally feel the Indian healthcare system will undergo a radical overhaul; it will become easily available to one and all at affordable costs,” he said.
“Another trend I see is large-scale emergence and acceptance of telemedicine in India. And with the government planning to increase its public health spending, healthcare’s share of GDP is expected to rise,” Gautam said.
He said he had always been eager to help the nation, and investing in FYI Health gave him a way to help in the unprecedented COVID-19 situation.
How do startups gain?
Apart from the investment, the cricketer said his experience on the field could help startups and founders learn camaraderie, team spirit, resilience, and a “never-say-die” attitude.
Gautam plans to mentor and groom innovators so they can “go all out to give their best in every way”. Founders and startups can also learn how to “play one day at a time” and tweak strategies to suit the situation.
Gambhir is taking one step at a time when it comes to investments, but said he would like to support innovations working to solve coronavirus-related problems.
“It is important to nurture startups such as FYI Health in the early days as it can have a cascading effect within the healthcare sector and help in taking ‘Make In India’ to global markets,” Gautam said.
(Edited by Teja Lele Desai)