VCs prefer not to venture into uncharted territory, and government policies do not prioritise R&D
Even in the middle of a pandemic, Indian startups have flourished across multiple sectors — be it ecommerce, edtech, fintech or foodtech. And in doing so, most of these companies have raised mammoth funding, and a few are now IPO-bound.
But here is the catch. Given that the pandemic is an unprecedented health crisis, have the country’s healthtech startups made significant contributions to fight the menace?
Of course, healthtech startups have worked hard to deliver a slew of services covering telemedicine and e-pharmacy, wellness and mental health. But some of the critical aspects like the production of medtech devices were limited to large corporations. Hence, India’s tech startups could not use their full potential and develop innovative solutions around Covid testing or oxygen concentrators that could have complemented hospital care.