Healthcare has become one of India’s largest sectors – both in terms of revenue and employment. Although the country’s healthcare industry is projected to continue its rapid expansion, with an estimated market value of US $280 billion by 2020, increased population growth in India’s low-income communities has resulted in a lack of affordable and easily accessible quality healthcare for millions of people.
As a comparison China has 30 hospital beds every 10,000 people, whereas India has only 12. The figures are even more alarming for nurses. In the United States there are 98 nurses per 10,000 people and in India there are only 13.
Despite government efforts to improve widespread access to quality healthcare, India’s existing infrastructure continues to be insufficient resulting in limited treatment options, especially for low-income families.
Recognizing the need for innovation within healthcare, in 2012, Ennovent, a business accelerator, partnered with the University Impact Fund, one of the world’s first student driven impact-investing firms, to research the opportunities available for entrepreneurs, investors, mentors and experts to add value to the Indian healthcare industry.