India: Aster DM Healthcare partners LSV Capital to set up health tech incubator

Photo by National Cancer Institute on Unsplash

In a bid to foster entrepreneurship in India’s nascent healthcare sector, Bengaluru-headquartered Aster DM healthcare, investment firm Life Science Vision Capital and non-profit start-up incubator Social Alpha have jointly set up an incubator-cum-accelerator, per a report by news agency PTI.

The platform called XHealth Innovation Lab will reportedly have an initial corpus of $50 million. The two investors have so far given a commitment for 60 per cent of the funding, the report added, quoting a source privy to the development.

While sectors across the country are bearing the brunt of the COVID-19 pandemic, healthcare services backed by technology are witnessing significant growth as consumers are looking to embrace disruptive solutions in peripheral sectors such as diagnostics, and remote ICU diagnostics, among others.

This, in turn, is opening up opportunities for entrepreneurs across India who are adopting measures to not only shift healthcare delivery online but also incentivising telemedicine, among others.

XHealth Innovation Lab aspires to accelerate the discovery of new therapies by leveraging deep tech in the field of healthcare, the report quoted Aster DM Healthcare Chief Innovation Officer Satish Prasad Rath as saying.

Going forward, XHealth Innovation Lab plans to incubate as many as 10 startups in each cohort twice a year.

India’s digital health market stood at $1.2 billion in the 19-20 financial year, per data available with RedSeer Consulting. It is expected to touch $4.5 billion this fiscal and $25 billion in FY25.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.