MediAngels, the world's first e-Hospital, which is an entrepreneurial venture by Indian doctors Arbinder Singal and Debraj Shome was featured on CNBC Young Turks Dream Decade in May 2011. The venture focuses on providing access to super specialists in various medical fields, to people irrespective of their locations, and in a timely way. MediAngels has a global panel of 300 super specialists from all over the world, including institutions like Stanford, Harvard, and John Hopkins in the US. The venture is a 60:40 revenue model with the doctors, and has around 1500 subscribers as of now. These subscribers are charged between Rs. 500 and Rs. 4500, and they also have the facility of storing medical records and documents on the website.
MediAngels has raised Rs. 3 crore in seed funding from HDFC Private Equity. A big concern for Dr. Singal and Dr. Shome was protecting the market that they have painstakingly created. CNBC Young Turks put the doctors in touch with Kanwaljit Singh of Helion Venture Partners, who answered their queries.
Dr. Shome and Mr. Singh discussed about protecting the new market created. Mr. Singh believes firmly that the speed at which the entrepreneurial venture executes becomes the first barrier for entry. While MediAngels looks at e-healthcare as a focused venture, for a big player, it may be one of many things which other players might be doing.
Another point which was discussed was about delivering the value to investors. An important point here was that venture investors are generally used to invest in businesses that may not be profitable at that time, but are pursuing great ideas that have the potential to make it big.
It was also highlighted that start-ups and entrepreneurs do not know how fast and where will the demand come from. Also, with more customers coming in, it implies that operations will need scaling up faster with resultant increased operational burn rate and this has been the story with MediAngels.
Mr. Singh elaborated that keeping the investors in the loop is an important aspect, whether the business is doing well, or otherwise. Choice of investor and taking the investor into confidence are key points.
Mr. Kanwaljit Singh concluded by saying that while MediAngels is a great idea with big potential, the execution and proving that it will work well remain the key to success.