This Mumbai-based venture studio aims to help founders launch companies in the healthcare sector

The healthcare sector, despite advancements like e-pharmacies and teleconsultations, still faces significant gaps in critical areas such as pain management, paediatrics, and oncology. 

These gaps represent a lack of comprehensive healthtech solutions that address the specific needs and challenges in these fields. 

Traditional healthcare approaches often fall short of providing effective and patient-centric solutions in these areas, leading to inadequate care and management of patients' health conditions.

The Indian healthcare landscape has evolved, but crucial gaps still exist. That's where Dr. Pankaj Jethwani and Sunil Wadhwani stepped in with a visionary concept.

Founded in October 2022, Mumbai-based 2070 Health is a venture studio on a mission to transform the healthcare sector in the country.

Who are the founders?

2070 Health was co-founded by Sunil Wadhwani (Chairman) and Dr. Pankaj Jethwani (CEO). Sunil Wadhwani has dedicated the last 40 years to scaling impactful technology and healthcare organisations. He is known for founding and leading iGate Corp, an IT services firm that grew significantly under his leadership, reaching over $1.2 billion in revenue and eventually being sold for $4.5 billion in 2015. 

He also founded and led Mastech Digital, a NYSE-listed company specialising in digital transformation and IT services, with annual revenues of around $200 million. 

Dr. Pankaj Jethwani, on the other hand, has been a transformative figure in healthcare, with extensive experience as a physician leader, operator, consultant, and investor. He has been instrumental in elevating care delivery standards in both the US and India. 

He collaborated with The Boston Consulting Group on government healthcare initiatives and co-founded The Breakfast Revolution to combat malnutrition in India. 

What does 2070 Health do?

2070 Health operates as a venture studio with a unique approach to creating new healthtech companies. The platform focuses on identifying and addressing gaps in healthcare, particularly in areas like pain management, pediatrics, and oncology, where technological advancements have not fully bridged the needs. 

It follows a structured process to build healthcare companies. This process involves: 

Ideation: The studio conducts extensive research to identify unmet needs in healthcare. They explore various healthcare problem areas and upcoming segments, developing business models that are commercially viable. 

Team Building: Once an idea is validated, 2070 Health matches it with a suitable founder who has the expertise and vision to execute the concept. They reach out to seasoned professionals through their networks to find the right talent for leading these ventures. 

Launch and Scale: The studio supports the newly formed companies through their initial stages, providing the necessary capital and guidance to de-risk the early days of venture building. 

How many startups it has incubated till now?

So far, 2070 Health has incubated three companies: Elevate Now, which claims to be India’s first medical obesity management platform, focusing on addressing the growing issue of obesity with a medically supervised approach. 

Secondly, Nivaan, India’s first end-to-end pain management brand, offering comprehensive solutions for chronic pain management. 

Reveal Healthtech: A startup that specialises in technology and strategy outsourcing for global healthcare systems and startups, aiming to streamline and enhance healthcare technology solutions. 

Focusing on expansion 

The Indian healthtech market is currently experiencing a significant phase of growth, characterised by increasing demand for healthcare solutions that are both convenient and accessible. 

The growth is largely driven by the rising popularity of digital health solutions, such as telemedicine and remote patient monitoring, as well as the growing use of wearable devices for health monitoring. 

According to a report by LoEstro Advisors, The Indian healthtech market is projected to reach $25 billion by 2025, representing a doubling in size on account of factors such as rising internet penetration, the demand for enhanced accessibility, and the increasing prevalence of chronic diseases in the country, 

In this rapidly evolving market, 2070 Health is actively working to expand its portfolio by focusing on key areas like paediatrics, clinical trials, oncology, and urology. These areas represent crucial segments within the healthtech landscape, where there is a high demand for innovation and specialised services.

The venture studio invests between $1 million to $3 million in each incubation, tailoring the investment based on the unique needs of each startup. 

How does it make money?

The studio's business model is based on building 12-15 startups over the next five years, with the expectation of realising value through ownership in these companies, potentially leading to exits through secondary sales, strategic stake sales, or IPOs. 

"We are developing these playbooks leveraging the team's decades of experience building healthcare, technology, and consumer companies. The goal is to scale our companies faster, better, and cheaper than traditional startups in the riskiest early months of company building," said Dr Pankaj Jethwani, CEO of 2070 Health.

2070 Health Funding & Investors 

In June 2023, 2070 Health raised its first round of funding worth $30 million or approximately Rs 250 crore from healthcare-focused VC fund W Health Ventures.

"The healthcare industry is slow to change, relationship-driven, highly regulated, and complex to navigate for new entrants. As a result, building healthcare companies in India is particularly hard. The rules of building fast-paced technology startups seldom apply when you're dealing with people's lives and the resulting need for regulation," said Sunil Wadhwani, serial technology entrepreneur and President of W Health Ventures.

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