ICTpost Health IT Bureau
Optimism is prevalent in Indian healthcare IT sector, where venture capitalists expect investment to increase. From the earlier days of medical transcription to mobile and personal health applications today — opportunities have come a full circle for Indian companies supporting such services.
There is significant investment and funding going into companies that engage with consumers, like mobile health, tele-health, personal health and social health
Venture capital (VC) funding in the Indian Healthcare IT (HIT) sector continued to gain momentum in the first quarter of 2017, with $793 million raised. Overall, venture capitalists predict venture firms will invest more, and CEOs of venture-backed companies expect to hire more, sell more and get paid more in Q2, 2017. While optimism about the venture industry and the national economy prevailed, VCs are divided on how fundraising would trend in the forthcoming year.
The improving exit market and a renewed excitement in the IT sector have engendered a confidence among VCs and the CEOs of the companies in which they invest that promises to propel the start-up community forward in 2011. While the venture industry will continue to evolve, and likely contract, the companies they fund will continue to grow, innovate and drive the Indian economy.
However, VCs also say consumer Internet and digital media and cloud computing are the two sectors most likely to see investment “froth,” a term used among the venture community to suggest over investment. There is “a lot of bottom-up interest from VCs and investors” who see “the combination of ubiquitous Internet access, availability of broadband, and the explosion of portable mobile devices” are fueling “a lot of very innovative things that are being done under the radar. Everyone wants to improve healthcare. Health IT companies are developing technologies that can make a difference to people’s personal health. The entrepreneurs have the potential to help transform healthcare if Indian healthcare environment can help them get their technology to market quickly.editor@ictpost.com
