(Photo Courtesy: www.compliancealert.org)
Start-ups very well know that ‘R' stands for ‘Risks' - an inevitable and a mandatory bait every entrepreneur has to bite -- either bite the dust or the biggest ever Apples.
Risks are said to be the biggest opportunities to any start-up -- a part-and-parcel of any entrepreneurs' journey. Not all risks are bad. Risks, in fact, help steer a company in the right direction or innovative ideas. What really matters is which risks are worth taking or otherwise, and how those risks are handled, which determine the unpredictable outcomes.
BioSpectrum's Raj Gunashekar peeks into the Indian Life Sciences start-ups scene unearthing mysteries and decoding the art of de-risking start-ups - all straight from the industry's entrepreneurial captains.
By virtue, all start-ups have inherent risks. Life Sciences start-ups are seen to be more risky than other fields like E-commerce or Information Technology (IT). In healthcare, despite its engineering, scientific, designing and execution prowess, there is always a risk of setbacks.
"However, entrepreneurs or inventors would be rewarded with enormous impact on healthcare, and the associated economic benefits, if they are able to persevere and if they take their invention on a wider commercial adoption," adds Mr Nishith Chasmawala, Co-founder, Consure Medical