Dr. Mansukh Mandaviya, Minister of Health and Family Welfare and Minister for Chemicals & Fertilizers, delivered the keynote address at the IIMA Healthcare Summit, focusing on catalyzing innovation in start-up ecosystems and policy research.

Dr. Mandaviya praised India's COVID management strategy and successful vaccination drives, earning global recognition. He emphasized India's potential resources and the need for a roadmap, private and public service involvement, startups, and technology integration to achieve comprehensive growth in the healthcare system. The Indian healthcare system serves as a global example post-pandemic.

He credited PM Modi's visionary leadership for this success and emphasized that Shri Modi's all-encompassing strategy was what led to India's successes.

Dr. Mandaviya emphasized the importance of a comprehensive approach to strengthening the healthcare ecosystem, emphasizing the need for more doctors, resilient infrastructure, technological advancements, and opportunities for startups to drive innovation and advancements.

Making the opening remarks at the IIMA Healthcare Summit, Professor Bharat Bhasker, Director, IIMA said -

“The Indian pharma industry is acknowledged as one of the largest and most efficient in the world today.  It has done a wonderful job of creating medicines and keeping the prices affordable not only in India but for the world, which has been a great support for the survival of humanity. Our strength in generics is incomparable globally. With these achievements, we are on our way to becoming a pharmacy of the world today.”

Sharing his thoughts on how the summit can contribute to the healthcare sector in India, he further stated -

“I hope that the IIMA Healthcare Summit will become a platform for innovation and change. It could deliberate on how AI and telemedicine can be made more practical in making healthcare affordable and accessible to the masses, especially in rural areas. I am sure there will be more kindling and exchange of ideas, which will go a long way in reshaping India’s healthcare sector. I hope some of the startup ideas which were presented at the Summit will fructify in easing out several problems for the nation, and that will be our contribution to the future.”

Talking about the crucial role of startups in the healthcare sector, Pankaj R Patel, Chairperson, the IIMA Board of Governors, said -

“Today we are seeing another wave of startups who have the ability to create new horizons of growth for the Indian healthcare industry. These healthcare startups can address the challenges that we are facing and greatly improve the quality and accessibility of healthcare in India. The Government of India has been championing innovation and entrepreneurship and has so far promoted almost 160 incubators, and nurtured about 12,000 startups, including 1600 women-led startups in India. Currently, India is home to about 2000 health tech companies or startups.”

Elaborating further he said -

“One of the things we are trying to do here is to understand and learn from academia and take their support in terms of innovating new things. We need to create a qualified talent pool that is trained to think out of the box and innovate. We also need to create funding mechanisms and hubs for innovation, where the academic institutes and industry can exist and collaborate in this area of healthcare.”

The Summit's objectives encompassed conducting research, facilitating knowledge dissemination, and propelling positive transformation within the healthcare sector.

IIMA's Alumni Special Interest Group (SIG) in Healthcare and the Centre for Management of Health Services (CMHS) at IIMA jointly organized the event. The SIG consists of over 200 members who hold key positions in prominent healthcare companies. As one of the oldest centers at IIMA, CMHS was established to acknowledge the Institute's past contributions to the healthcare sector. Its primary goal is to garner support from healthcare associations, startups, academic and research institutions, with the aim of fostering a collaborative and innovative environment within the healthcare sector. Additionally, CMHS will function as a platform to stimulate innovation, cultivate partnerships, and shape the trajectory of healthcare in India.

The event featured two-panel discussions on the entrepreneurial journey and the role of government and academia in shaping policy for innovation. Industry leaders discussed challenges and opportunities, devising solutions and laying a roadmap for the sector's future.

A Startup Competition was held alongside the Summit, allowing established, early-stage, and concept-stage startups to showcase innovative ideas. Winners were chosen based on creativity, utility, and viability, and awarded cash prizes.