HealthTech startups in India got a major boost after Microsoft and incubator Social Alpha announced a new program. At a time when the industry is undergoing a major shift because of COVID-19, the partnership is a welcome addition. The program will offer both technical support as well as go-to-market support for emerging HealthTech startups in India.
Called ‘Microsoft for HealthTech Startups’, the program helps entrepreneurs and startups leverage the American giant’s digital tools – Microsoft Azure, Microsoft 365, Microsoft Dynamics 365, and Microsoft Power Platform. Furthermore, Microsoft will provide access to a set of custom tools for the cloud that are built for emerging HealthTech startups.
HealthTech for Startups Features
All HealthTech startups can apply for Microsoft’s program. The company is providing a range of benefits across three tiers:
- All startups: Qualified Seed to Series C startups can boost their business with technical marketing and sales tools through Azure. Startups can claim up to $120,000 (2 years) of free Azure cloud credits, storage, functions and support. This tier also offers enterprise-level unlimited 24/7 technical support with Dynamics 365, Office 365 Business Premium, Visual Studio, and GitHub Enterprise. Furthermore, Microsoft is also providing go-to-market resources and Marketplace onboarding support.
- Co-sell startups: This tier is for any startup with enterprise-ready solutions. Microsoft offers technical support, go-to-market strategies, and co-selling through the Microsoft ecosystem. That includes access to Cloud Solutions Architect, Microsoft Technology Centre, Microsoft sales team, channel partners, and access Top Advisory network and programs.
- Co-build startups: This tier offers access to Microsoft Cloud for Healthcare, an industry-specific cloud for improved collaboration, decision-making, and operational efficiencies. It allows companies to Rapidly create their own data models with fused datasets. Furthermore, emerging healthtech startups can also access the full power of Azure and other apps like Microsoft Dynamics 365, Microsoft 365 suite, Microsoft Power Platform.
Support from Social Alpha
The Bengaluru-based incubator will play a critical role in the program, offering support and guidance for entrepreneurs and startups. Social Alpha will provide product innovation labs, sandbox pilots and structured incubation initiatives that offer knowledge services, boot camps and masterclass sessions with mentors as well as tech and industry experts.
Later stage startups will benefit from Social Alpha’s ecosystem networking, angel networks, investor forums and other incubator initiatives. Since its inception in 2016, Social Alpha has nurtured 150+ start-ups and made 40+ seed investments. the incubator has also supported 20+ HealthTech startups in particular.
Boost for Emerging HealthTech Startups In India
According to the Economic Times, there are around 4800 HealthTech startups in India as of 2020. From diagnosis to preventive care, and teleconsultation to supply chain, these startups have disrupted almost every part of the health industry. That is down to major technological disruptions like artificial intelligence, big data and cloud computing.
As COVID-19 exposed the weak links in India’s healthcare system, these startups help plug the gaps, pioneering a digital healthcare revolution. That matters, since millions of Indians die every year due to poor and inadequate care. According to a study published in The Lancet, Some 2.4 million Indians die of treatable conditions every year, the worst situation among 136 nations studied for a report. Furthermore, the report found that around 1.6 million Indians died due to poor access to quality healthcare.
With those numbers, it is clear India’s HealthTech revolution is very much the need of the hour. Their ability to provide digital-first solutions has seen HealthTech receive a big boost in an otherwise very bad year for investments.
According to VCCEdge, 53% of the angel investments in 2019 were towards HealthTech startups. In Q1 2020, the healthcare sector witnessed a 14% increase in terms of the value of investments ($452 million v $398 million in Q1 2019).
We at Onsurity is the first on the list of healthtech startups in India that are proud to be part of this innovative industry. We identified a need for access to low-cost value-driven employee healthcare plans. That’s why we created TeamSure by Onsurity – affordable employee healthcare for SMEs with services like doctor teleconsultations, e-pharmacy, and more.
Onsurity’s plans provide affordable employee healthcare for SMEs and startups of all sizes. No matter what you need, we have a plan for you. Our flexible plans and low-cost subscriptions are a great way to provide employee healthcare benefits your team will love. Head to our website to sign up now and give your team the healthcare they deserve.