How Pankaj Sindhu, is building India’s
first Integrated Healthcare Ecosystem?
WONDRx, a Mumbai based startup, run by Mr. Pankaj Sindhu along with Mr. Pankaj Agrawal is a health tech organization that aims to bridge the gap between healthcare providers and patients. In this age of digitization where anything and everything is available on a near to real-time basis. This startup is an initiative to make an easy availability for something that always requires urgency- Healthcare.
Yes, you heard it right! Your life is their priority.
WONDRx platform is a combination of consumer and provider app. It connects the patients with 20 Plus Healthcare Provider types (Doctor, Hospital, Pharmacy, Diagnostics, Nurse, etc) in this stay-home scenario. Be it receiving the handwritten Rx from doctor after e-consultation or receiving the voice notes from doctor for medication compliance or getting relevant educational videos from the Prescribing Doctor – WONDRx makes this and lot more possible. Any Healthcare Provider can go digital with WONDRx in just a few clicks and without having to invest in developing expensive Apps for their Digital needs. Consumers need not worry about where to get various Healthcare services from. WONDRx has brought everyone on their platform.
We at Entrepreneur Skill Hub did an exclusive conversation with the founder of WONDRx, Mr. Pankaj Sindhu to help our readers learn from his experiences. In a health emergency like COVID-19, which might seem to be an opportunity for health organizations to many of you Mr. Pankaj feels that the pandemic cannot be called a blessing for anyone. “
It cannot be a boon for anyone in my opinion. I would rather treat this as an opportunity to be able to make a contribution in these difficult times. Health startups are definitely in focus due to the Pandemic as they are the ones who can make the maximum contribution in such a time. I hope every Health startup brings in something unique to help in the current situation.” says Mr. Pankaj.
Read his full journey:
WONDRx is building India’s first Integrated Healthcare Ecosystem which will seamlessly connect the Consumers/Patients with Healthcare Providers
WONDRx will provide loads of multiple other meaningful features to both Consumers and Healthcare Providers. The Consumer trend for Healthcare is shifting to Platforms and WONDRx is leading the trend in the most holistic manner.
The idea was initially tested in Greater Mumbai with Doctors, Pharmacies, Pathology Labs, MRI centers, and few other Healthcare Providers. We had a beta testing for almost 6 months and a good amount of learnings was gathered which helped firm up our Product.
My boss told me that I was a “Corporate Misfit”
I have spent a good number of years in the Pharmaceutical world and Healthcare has been close to my heart always, excelled and went up the career ladder quite fast in the Corporate world and after reaching the helm of the career as CIO/Director Technology, there wasn’t much left in the Employment and there was an urge to do more. I was kind of corporate misfit (as per my boss) and when I first started my intent of Entrepreneurship with him, it came easy to him.
The urge to do something of my own was very strong and then it just needed a fine day to take the plunge, which got supported by my wife, and there it was – 1st of April 2010. I was a self-made first-generation Entrepreneur raging to change the world.
The first 11 months were terrible in the journey and it was like I made a mistake by leaving a hefty paid job
The first 3 employees came in quite early by the sheer drive of earlier habits developed during the employment wherein one has a corner cabin with everything made available at a phone call. Soon I realized that habits need to change and hiring need to be done much more carefully.
The first 11 months were terrible in the journey and it was like I made a mistake by leaving a hefty paid job. Then finally in the 12th month, we saw the distant hope with our first project cracking, and after that god was kind and we never looked back.
While hiring the employee, we usually started looking for the following attributes:
– Attitude towards work
– Startup environment fit
– Common sense and Logical thinking ability
– And after above fitment then we would look into technical abilities, experience, cost budget, etc
My Prior Entrepreneurial experience and my networking skills came handy while looking for potential investors
WONDRx is my 3 rd Venture, the earlier two were conceived between 1 st April 2010 to 31 st March 2016.
With some prior Entrepreneurial experience and networking in the industry, I met our first investor who would bet on our 3 rd venture in Healthcare. Overall, I would say it was not much difficult and here again god was kind.
Related: 5 Sources for funding your startup
Launching my business model without market testing was my biggest mistake
There are many mistakes made in this journey, however making a mistake is not that much of a killer – repeating the mistake hurts. We practice this principle that mistakes must not be repeated.
One of the gruesome mistakes made at my end in the very first Entrepreneurial venture was launching the initial business model without much market testing. This resulted in a good amount of losses and it left me with a lot of learnings. There wasn’t much which I could do while this mistake was on its onset given that the business model was conceived by myself and my mind being a naïve Entrepreneur at that time could not comprehend the risks due to the excitement in my head and heart. Well, it left me with a good experience, and a repeat of that mistake never happened again so far.
Meet my three key mentors
Healthcare is a complex and regulated environment and so is the marketing in this domain. When we gather our marketing plans, we split the activities into Digital and F2F group activities. It is important for us to be part of seminars, conferences, and be seen in the major events.
And for the marketing and many other advices, I reach out to the best in the industry. I would say that I am blessed to have 3 key Mentors from three different fields who listen to me and give back their advice. These three mentors represent Healthcare, Travel & Legal industry and all three of them are known names in their respective industries.
A great team makes a great entrepreneur
The most difficult challenge has been finding the Core Team that can go along your pathfinding the most suited talent is a great challenge. The best way to overcome is to reach out to your past known people or get references from known people and then start socializing with them to gauze which one will fit in alongside.
I see COVID-19 as an opportunity to make a contribution to society
Like the majority of businesses, WONDRx has also been affected by the Pandemic, one of our major product WONDRx SMART Rx Kit has taken a hit in this lockdown. However, for our other two products, WONDRx Consumer and WONDRx Provider App – the uptake has been pretty well.
Instead of treating COVID as any kind of boon for Healthcare startups (it cannot be a boon for anyone in my opinion), I would rather treat this as an opportunity to be able to make a contribution in these difficult times. Health startups are definitely in focus due to the Pandemic as they are the ones who can make the maximum contribution in such a time. I hope every Health startup brings in something unique to help in the current situation.
My Advice for budding entrepreneurs
Entrepreneurship at one time was something rare and people opting for this were hard to get marriage proposals (only settled job was in trend), well now things have changed and tables have turned the reverse way.
One aspect that needs to be worked upon can be:
Beautiful Ideas can be there however is the individual having the Execution capacity, Patience and enough cash runway to see it through.