Meet Romita Ghosh, a trailblazer in the MedTech industry. As the founder of iHeal HealthTech, she integrates AI with healthcare to improve access and outcomes, especially in underserved areas. Her company, a leader in digital healthcare transformation, makes a significant impact on public health.
Romita also founded RevolutionAIze, dedicated to eradicating child malnutrition using innovative AI solutions. Her work is shaping a healthier future for children worldwide.
Tell us a bit about yourself and your family?
I come from a family deeply rooted in the values of education and social responsibility. Growing up, my parents emphasized the importance of learning and applying knowledge to make a positive difference in the world. This foundation played a pivotal role in shaping my aspirations and my approach to life and work. My father was an engineer and my mother, a teacher, both of whom instilled in me the curiosity to explore how things work and the passion to impart knowledge. Their influence ignited my early interest in science and technology. Both of my parents were employed at ONGC (Oil and Natural Gas Corporation), a major player in the energy sector in India.
This environment had a profound influence on my initial career choices and entrepreneurial ventures. Growing up in an atmosphere rich with talk of energy exploration and sustainability, I naturally developed an interest in how my field of study—biotechnology—could intersect with energy production.
This led me to focus my academic research on biofuels, particularly biodiesel, as a sustainable alternative to traditional fossil fuels. This research was not only academically fulfilling but also sparked my first venture into the business world through a startup focused on green energy solutions. Family discussions often revolved around the impact of technology on society, which later evolved into a specific focus on healthcare due to the experiences of some family members with chronic illnesses.
These personal experiences with the healthcare system highlighted
the disparities in access to care and the potential of technology to bridge these gaps,
steering my career towards healthcare technology.
Have you had any formal training or family business?
My educational and professional background has been instrumental in shaping my journey as an entrepreneur. I graduated with double majors in Biotechnology and Biochemistry from Kerala University. This strong foundation in the sciences initially led me to a research career focusing on cancer at a prestigious institution. However, my zeal for seeing direct, tangible improvements in patients' lives prompted a shift from academia to industry.
I pursued an MBA in Biotechnology Management from Amity Business School, which equipped me with the necessary skills to merge scientific knowledge with business acumen. Further enhancing my expertise, I attended the Indian Institute of Management, Udaipur, and Welingkar's Institute of Management in Mumbai. Additionally, my role as an ICMR Research Fellow at IIT Hyderabad enriched my experience, particularly in the practical applications of biotechnological research.
From a young age, I was deeply interested in technology, creating my first website at the age of ten during the late 90s. After completing my secondary education, I chose to study Biotechnology while concurrently learning programming languages like C++ and Visual Basics. My fascination with Genomic studies and gene expressions naturally led me to Bioinformatics, which sits at the intersection of computing and biology.
This combination of interests has been pivotal in my current ventures, where we leverage machine learning and deep learning to enhance our technological solutions, making our operations smarter and extending our outreach effectively. My scientific background has been a critical asset in problem-solving and scaling my business in a highly competitive industry. It has allowed me to approach complex healthcare challenges with innovative solutions that are informed by a deep understanding of the underlying biological and technological principles.
This blend of science, technology, and management has not only defined my career path but has also driven the success of iHeal HealthTech, highlighting the importance of interdisciplinary expertise in modern entrepreneurship.
How did you come up with the idea for your business, and what was the process of turning that idea into a reality?
From a young age, I was drawn to innovation, though I didn't know the word "entrepreneur" at the time. However, my path took an unexpected turn when I was diagnosed with cancer at the age of 13. The subsequent two years were a harrowing period of intense physical pain, isolation due to prolonged absences from school, and a deep personal struggle with self-image and confidence due to the effects of chemotherapy. Yet, it was during this difficult time, spent in the halls of Tata Memorial Hospital, that a deeper sense of purpose began to form within me. Amidst the suffering, I saw countless patients enduring much harsher circumstances, many without access to adequate treatment or any hope for recovery.
This realization brought a profound sense of gratitude and a redefined perspective on my situation—I was fortunate to have access to necessary treatments and supportive family. This gratitude transformed into a resolve; if I were to overcome my illness, I vowed to dedicate my efforts to help those less fortunate. This vow led to the creation of iHeal HealthTech—an initiative aimed at combining purpose with profits while alleviating the suffering of underprivileged patients and instilling hope through better access to healthcare. Over the past decade, my startups have focused primarily on the healthcare sector, significantly impacting numerous lives and striving to bridge the gap in healthcare accessibility.
Ideation Phase: The idea took shape when I recognized that while there was significant innovation in healthcare technology in urban centers, rural areas remained drastically underserved. This disparity was not just a technological issue but also a matter of inadequate infrastructure and limited access to medical expertise. I envisioned a platform that could bring advanced healthcare technologies, such as AI-driven diagnostics and telemedicine services, directly to these underserved areas.
Market Research: The first step was conducting extensive market research to understand the specific needs of thesemregions, the existing barriers, and the competitive landscape. This involved field visits, discussions with healthcare providers, and surveys with potential users. The insights gained from this research were invaluable in shaping the initial concept into a viable business model.
Building the Team:
With a clear vision in place, the next step was assembling a team that shared my passion and
brought the necessary skills to the table. This included experts in AI and machine learning, software development, healthcare professionals, and business strategists. Building a multidisciplinary team was crucial for developing a holistic solution that addressed both the technological and practical aspects of healthcare delivery.
Prototype Development and Testing:
We then moved to the prototype development stage. We developed initial versions of our AI
diagnostic tools and telemedicine platform and conducted pilot tests in select rural areas. These
pilots were critical for gathering real-world data and feedback, which helped us refine our technology and ensure it was adaptable and user-friendly.
Securing Funding:
To scale our solutions, securing funding was essential. I pitched our business model to various
investors, focusing on the social impact and the scalability of our technology. The successful rounds of funding that followed provided the necessary capital to expand our operations and enhance our technological capabilities.
Launch and Scale-Up:
With the technology refined and capital in place, we launched iHeal HealthTech. The initial focus was on building partnerships with local healthcare providers and community organizations to facilitate the deployment of our solutions. As the business grew, we continued to iterate on our technology, expand our services, and scale up our operations to other regions.
Continuous Improvement and Expansion:
Post-launch, the focus has been on continuous improvement and exploring new avenues for growth. We've incorporated more advanced AI features, expanded our service offerings, and entered into strategic partnerships to enhance our impact.
How have you grown as a leader since starting your company, and what have been some of the key lessons you've learned along the way?
Reflecting on my journey as the founder and CEO of iHeal HealthTech, my leadership has evolved through confronting and overcoming numerous challenges, which have imparted valuable lessons that continue to shape my approach. One significant aspect of my growth has been the transition from a hands-on researcher to a visionary leader. This shift required me to embrace broader perspectives and develop strategic foresight, qualities that are crucial for steering a company through the turbulent waters of the healthcare industry.
The early days of iHeal taught me the importance of resilience and adaptability, especially when we were pioneering the use of UV sterilization technology during the COVID-19 pandemic to enable the safe reuse of personal protective equipment. This experience underscored the necessity of being prepared to pivot and innovate rapidly in response to unexpected challenges. Another key lesson has been the importance of empathy and effective communication. Leading a diverse team and interacting with various stakeholders, including government and private sectors, highlighted the need to foster a collaborative environment where every voice is heard and valued.
This has not only helped in building a cohesive team but also in ensuring that our initiatives are inclusive and aligned with the broader goals of enhancing healthcare accessibility. Lastly, mentoring emerging entrepreneurs and engaging with the startup ecosystem has reinforced my belief in the power of shared knowledge and community support. These interactions have been mutually enriching, providing fresh insights and reinforcing the idea that continuous learning is integral to sustained leadership.
In summary, my leadership journey has been profoundly shaped by the challenges we've navigated, the strategic decisions we've made, and the collaborative relationships we've cultivated.
Each of these elements has contributed to my development as a leader committed to driving impactful innovations in healthcare.
Can you tell us about a time when you faced a major setback or failure in your business, and how you overcame it?
After completing my MBA, I embarked on a corporate journey, initially working with Biocon where I managed healthcare portfolios. This experience was enriching, but it wasn't long before the entrepreneurial bug bit me, prompting me to delve into the world of startups. The path to entrepreneurship was fraught with challenges. Initially, I ventured into the energy sector and later into healthcare distribution and marketing—both fields predominantly dominated by male entrepreneurs, where women like myself were often overlooked and undervalued. The dynamics were tough, and the playing field, uneven. Further complicating my journey was the deterioration of bilateral relations with China, which significantly impacted import costs and led to unexpected increases in the prices of raw materials. These were challenges I hadn't anticipated and were tough to navigate as a young entrepreneur in my twenties, new to these industries. In the early stages of my entrepreneurial journey, I encountered significant hurdles in building a brand and raising capital. Co-founder conflicts were another early setback, occurring in my first two startups. These experiences were tough but valuable, teaching me the importance of choosing the right partners and eventually leading me to go solo with my third venture, Admirus. Here, I remained independent until I found co-founders who were truly synergistic with my vision. Valuation issues are a common struggle in the Indian startup ecosystem, and I faced them repeatedly.
Challenges like skewed government purchase benchmarks, customers who compromised quality for lower costs, and wearing multiple hats simultaneously were part of my daily reality. Each challenge demanded a unique solution and resilience on my part. Today, I approach these challenges differently.
Learning from my early mistakes, I now ensure there is room for my co-founders to learn from their own mistakes—much like I did.
This approach helps prepare them to become resilient and independent leaders in their own right.
It’s a poignant reminder that while we often seek to learn from the experiences of others, our most profound lessons come from navigating our own missteps.
How do you stay motivated and focused on your goals, especially during challenging times?
Staying motivated and focused, particularly through challenging times, has been a crucial part of my journey as an entrepreneur.
Over the years, I've developed several strategies that help me maintain my drive and keep my eye on the long-term objectives.
- Revisiting the 'Why': Whenever I face obstacles, I remind myself why I started iHeal HealthTech in the first place. This purpose, rooted in the desire to make healthcare more accessible and impact lives positively, recharges my motivation and helps me navigate through rough patches.
- Setting Clear, Achievable Goals: I break down my larger visions into smaller, manageable tasks. This makes the process less daunting and provides me with a clear roadmap. Achieving these smaller goals gives me a sense of progress and accomplishment, which is essential for maintaining morale.
- Structured Problem-Solving: Over a period of time I have developed my person Standard Operating Procedures for tackling crisis. This systematic approach prevents overwhelm and keeps me focused on progressing towards solutions, rather than getting bogged down by the complexity of the challenges.
- Staying Connected with My Team: I believe in the power of collective effort and shared vision. Regular interactions with my team not only foster a supportive work environment but also allow me to see the broader impact of our work. Their energy and dedication inspire me and help keep my spirits high.
- Learning from Setbacks: I view each challenge as a learning opportunity. Reflecting on what went wrong and how we can improve turns potential discouragements into valuable lessons. This mindset of continuous learning and adaptation is vital for staying resilient.
- Prioritizing Self-Care: Managing a balance between work and personal life is key. I ensure to carve out time for activities that rejuvenate me, be it reading, yoga, or spending time with family. This not only helps me return to work with renewed energy but also keeps burnout at bay.
- Seeking Inspiration: I often turn to books, podcasts, and discussions with other entrepreneurs. Learning about how others have navigated their paths and overcome their challenges provides fresh perspectives and new ideas.
- Celebrating Milestones: Recognizing and celebrating each success within the company, no matter how small, boosts morale and reinforces the value of our efforts. This practice helps maintain a positive outlook and a sense of momentum.
How do you balance your personal life with the demands of running a business?
Balancing personal life with the rigorous demands of running iHeal HealthTech has been an ongoing learning process, shaped by both the challenges and the responsibilities of leadership.
Here are some strategies I’ve employed to maintain a healthy work-life balance:
- Prioritizing Time Management: Effective time management is crucial. I structure my day to ensure that both work and personal activities are given their due time. This involves meticulous scheduling and being disciplined about adhering to these time blocks, which helps in managing work efficiently while also carving out time for family and personal interests.
- Delegating Effectively: Early in my entrepreneurial journey, I tried to handle too many things myself. Over time, I've learned the importance of delegation. Trusting my team with key responsibilities not only empowers them but also frees up my schedule to focus on strategic leadership and personal growth.
- Setting Boundaries: Setting clear boundaries between work and personal life is essential. This means having specific times when I am not available for work-related issues unless it's an emergency. Communicating these boundaries to my team helps in managing expectations and reduces the risk of burnout.
- Embracing Flexibility: While structure is important, so is flexibility. Being open to adjust my schedule as needed allows me to respond to unexpected demands from both personal and professional fronts. This adaptability is key to handling the dynamic nature of entrepreneurship.
- Investing in Self-care: I make it a priority to invest time in activities that rejuvenate my mind and body, such as yoga, meditation, and hobbies that I enjoy. These activities help me maintain my mental and physical well-being, which is crucial for sustaining long-term productivity.
- Leveraging Technology: Utilizing technology to streamline work processes has been incredibly beneficial. Tools for project management, communication, and automation reduce the need for constant oversight and help maintain efficiency, allowing more time for personal life.
- Regular Check-ins with Self and Family: I regularly assess how well I'm balancing work and life by checking in with myself and my family. Their feedback is invaluable in helping me understand if adjustments are needed and ensures that I remain connected and present. These strategies are not just about maintaining productivity, but also about ensuring that I live a fulfilling life both as an entrepreneur and as an individual. It’s about making conscious choices every day to nurture all aspects of my life.
What are your plans for the future of your business, and how do you see yourself evolving as a founder and leader?
Our goal is to harness this technology not only to enhance healthcare accessibility and efficiency but also to address broader societal challenges through public health initiatives and educational outreach. Strategic Goals for iHeal HealthTech:
• Innovating AI for Public Health: We plan to develop AI-driven solutions that improve epidemiological tracking, personalize healthcare delivery, and optimize resource allocation in under-resourced areas. By doing so, we aim to significantly impact public health management globally, making preventive care more accessible and effective.
• Global Expansion: Expanding our operations internationally remains a key objective. This will involve adapting our AI solutions to different healthcare systems and regulations, ensuring that our innovations are both scalable and versatile across various global markets.
• Sustainability and Social Good: Strengthening our commitment to sustainability, we will continue to integrate eco-friendly practices across all levels of operation. Additionally, our projects will focus on using AI to tackle significant issues like climate change impacts on public health, demonstrating our role in social responsibility.
•Empowering Young Women in Tech: A personal passion project that aligns with our corporate ethos is encouraging young girls to pursue careers in STEM, particularly in AI and data sciences. We will expand our outreach programs, workshops, and mentorship initiatives to inspire and educate girls, aiming to close the gender gap in technology. Evolving as a Founder and Leader.
• Continuous Learning: As the tech landscape evolves, so must my understanding and skills. I plan to engage in ongoing learning, specifically in advanced AI applications and leadership in high-growth environments, to ensure our strategies remain cutting-edge and effective.
• Enhanced Leadership Development: I aim to cultivate leadership not only within myself but also among my team members. This includes formal training programs, leadership retreats, and a culture that encourages taking initiative and innovation.
• Building Resilience and Flexibility: Adapting to change and overcoming setbacks have been foundational to my journey so far. I will continue to develop these qualities, preparing both myself and my company for future challenges and opportunities.
• Community and Network Building: Expanding my involvement with global health and tech communities through speaking engagements, policy discussions, and collaborative projects will further our reach and impact. This will also provide valuable insights and connections that can propel our mission forward.
• Personal Well-being and Work-Life Harmony: Maintaining a balance between my professional endeavors and personal life is essential. I will continue to prioritize self-care and family, ensuring that I lead by example in promoting a healthy work-life culture at iHeal HealthTech.
If you could go back in time and give your younger self one piece of advice, what would it be?
Entering the entrepreneurial world, especially in industries as challenging and dynamic as healthcare and technology, can be daunting. It's easy to be overwhelmed by the immediate pressures and the steep learning curve. However, the real progress is often slower and more incremental than most anticipate.
Patience is not just waiting passively, but actively persisting, learning, and adapting through the various phases of business growth. I would tell my younger self to understand that setbacks are not just obstacles but opportunities to learn and refine our approach. Persistence, coupled with a resilient mindset, is fundamental. It’s about staying committed to your vision, even when the path gets tough and the goals seem distant. This perseverance is what turns challenges into stepping stones towards success.
Additionally, I would emphasize the importance of building strong relationships.
Networking isn't just about expanding business opportunities; it's about learning from peers, mentors, and even competitors. These relationships can provide support, offer new perspectives, and inspire innovative ideas that could drive the business forward.
Finally, I’d remind myself to celebrate the small victories along the way.
It’s these moments that keep you motivated and remind you why you started on this path in the first place.
They build confidence, foster a positive team culture, and maintain momentum even through tough times.
What's the most unconventional thing you've done to grow your business, and what was the result?
One of the most unconventional strategies I've implemented in growing iHeal HealthTech was turning our competitors into our ecosystem partners.
Traditionally, competitors are viewed solely as adversaries, but I saw an opportunity to collaborate for mutual benefit, especially in the complex field of healthcare technology.
This strategy not only broadened our market reach but also accelerated our technological improvements.
It fostered a cooperative rather than a purely competitive ecosystem, which led to innovations that might not have been possible independently.
Additionally, this approach diversified our risks by spreading them across more stakeholders and increased the overall market share for all involved by making a more compelling value proposition to the end users.
What's the most important lesson you've learned from a failure, and how have you applied it to your business?
One of the most significant lessons I learned came from an early failure in the initial launch phase of a digital health product aimed at improving diagnostics in remote areas.
product, though technologically advanced, was not well-received by the target market due to its complexity and the users' lack of familiarity with such digital tools.
Key Lesson: User-Centric Design and Engagement The critical lesson from this setback was the absolute importance of user-centric design and the need for extensive user engagement during the development process. We realized that no matter how innovative a technology might be, it must be accessible and understandable to its end-users to be effective.
Applying the Lesson: To rectify this and avoid future failures, we overhauled our product development approach:
• User Feedback Integration: We began incorporating user feedback right from the conceptual stage of product development. This involved deploying prototypes early in the process and conducting pilot tests with actual users. Their input became a cornerstone of product design, ensuring the final product was aligned with user needs and expectations.
• Training and Education Programs: Recognizing that the adoption of new technologies often requires a learning curve, we implemented comprehensive training programs for users. These programs were designed not just to educate but also to gather insights on user challenges, further refining the product.
• Iterative Development: We adopted an iterative approach to product development, which allowed for continuous improvements based on real-world use and feedback. This method helped us make incremental changes that significantly enhanced usability and functionality.
• Cross-Functional Teams: We also fostered closer collaboration between our tech developers, field staff, and customer service teams. This integration ensured that every team understood the user perspective, leading to more holistic and effective solutions. Resulting Impact: Integrating these changes led to a marked improvement in the adoption rates of our subsequent products. Users were more engaged and satisfied with the solutions, as evidenced by positive feedback and increased usage rates. This approach not only helped in rectifying the initial failure but also instilled a culture of user-centricity across all our product lines, ultimately contributing to the company’s broader success.
This experience profoundly shaped our business strategy and decision-making process, emphasizing that the path to successful innovation is paved with user insights and involvement.
It taught us that understanding and meeting user needs is as crucial as the technological aspects of product development.
What's the most meaningful compliment or feedback you've ever received from a customer, and why did itresonate with you?
One of the most meaningful compliments I've received came from a rural healthcare provider who used our AI-driven diagnostic tools in remote areas. After implementing our solutions, he told us, "Your technology is not just a tool; it's a lifeline for our community."
This feedback resonated deeply with me and with our team, highlighting the profound impact our work could have on people's lives.
This compliment struck a chord for it was a Validation of my Mission. It’s been a personal mission to make healthcare accessible and effective, especially in underserved areas. Hearing firsthand from a healthcare provider about how our technology served as a "lifeline" reinforced that we were indeed fulfilling our core mission.
If you had to choose one thing that makes your company truly unique and sets it apart from the competition, what would it be, and why?
One aspect that truly sets iHeal HealthTech apart from the competition is our commitment to integrating AI technology with a deep understanding of local healthcare needs, particularly in underresourced areas.
Our approach combines cutting-edge technology with grassroots-level insights, ensuring that our solutions are not only technologically advanced but also culturally and contextually relevant.
Why This Is Vital:
• Local Relevance in Global Technology: While many tech companies develop solutions that are technologically sophisticated, they often miss the mark on local applicability. Our focus on tailoring AI solutions to meet the specific needs of local populations ensures that our technology can be effectively used in the environments where it is most needed.
• Inclusive Innovation: By designing our products with input from local communities, including both healthcare providers and patients, we ensure inclusivity and accessibility. This approach helps in overcoming barriers to technology adoption, such as cultural resistance or lack of infrastructure, making our products more effective and accepted.
• Sustainable Impact: Our model not only addresses immediate healthcare challenges but also builds local capacity through technology. This sustainability aspect is crucial, as it empowers communities by providing them with tools and knowledge that continue to benefit them in the long term.
• Differentiation in the Market: This unique blend of high-tech solutions with localized adaptation clearly differentiates us in the competitive landscape. It not only highlights our innovative capabilities but also our commitment to social impact, which resonates strongly with stakeholders, including investors, partners, and customers. This distinctive approach is integral to our brand's identity.
It reflects our mission to not just be leaders in healthcare technology, but to be pioneers in making that technology accessible and effective for everyone, regardless of their geographical or economic conditions.
It's a testament to our belief that the best technological innovations are those that serve humanity in the most direct and impactful ways.
Find Romita Ghosh os Social Media:
LinkedIn - Personal Account: https://www.linkedin.com/in/romitaghosh/
Companies websites:
a. https://www.linkedin.com/company/evolutionaize/
b. https://www.linkedin.com/company/iheal-healthtech/
Instagram – Personal: https://www.instagram.com/lifeofromita/
Instagram – Business: https://www.instagram.com/lomo.brand/
Email address: romita@ihealhealthtech.com
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