A serial entrepreneur, AmitMunjal has founded many startups including, dYsruptor Labs, BrahmaX Ventures, and more. A chartered financial analyst, who also did the advanced management studies program from Harvard Business School in Management & Leadership, derived inspiration for his next startup while being on a remote island in Hawaii. In his experience, video consultation to treat his medical problem proved to be extremely useful that paved the way for Amit to conceptualize Doctor Insta, which is India’s 1st video medicine company.
Please provide a brief overview of your product/ service.
Doctor Insta is India’s 1st Video Medicine Company. We are striving to fix the current problem of Accessibility, Reliability and Consistency in India’s $100 Billion HealthCare Market and to bring quality healthcare to everyone’s finger “taps” – Anytime, Anywhere. 70% of the total OPD cases do not require in-person visits. These mild to moderate issues can easily be resolved through Telemedicine. With Video, phone and chat, our Specialists can engage with the patients to diagnose their issues and provide an effective treatment plan. Our Health Caregivers are available round the clock on 24 x 7 x 365 basis and can be consulted through Web, iOS and Android Apps.
What inspired you to build the above product/ service?
The Idea of Inspiration was that when I used a similar service while being on a remote island of Hawaii and the video consultation solved my problem right away saving me plenty of time and money. So, I wanted to launch a similar service in India for the overall well-being of people and for bringing “On Demand” preventive and curative healthcare to everyone’s doorsteps.
What is your life mantra?
Work Hard and Party Harder
What was the most challenging part of your journey till now?
One major roadblock is the adoption and engagement of telemedicine in India. Although a) PM Modi and the Indian government strongly support telemedicine and b) Independent research studies show us that 70% of the OPD cases do not require any in-person visit, yet people in India may feel the need of going to OPD.
How did you overcome those challenges?
The only way to overcome these challenges is to educate people about the benefits of telemedicine and slowly but steadily people will understand and adopt the services.
Share some details about the investments that you have been able to fetch for the business till now.
We have raised seed capital from a US based VC Company, BrahmaX Ventures and two angel investors based out of New Delhi and New Jersey.
How do you protect yourself from the problem of Brain Drain?
1) Employee Benefits Such as Healthcare Services, Insurance, Perks etc
2) Foster employee development
3) Internal communication
4) Offer financial rewards
5) The ability of the employee to speak his or her mind freely
According to you, what are the three qualities an individual must have to achieve success?
1) Ability to work smart, hard and long
2) Critical Thinking
3) Strong sense of discipline
Which online tools/ services/ apps do you use the most and would like to recommend as well?
Evernote, LinkedIn, Doctor Insta, FaceBook
Share any one habit which you think makes you more productive.
Waking up early in the morning and introspect on the activities of the day
Share any one habit which you wish to change in yourself.
Wish I could exercise more, travel more and read more
Answer in less than 50 words
The key to success is laser sharp focus and staying fast and nimble
- One mistake you believe every individual must avoid
Try too many things too fast
- One most important lesson that you have learnt till now
Failures are part and parcel of an entrepreneur’s life
What are your plans for next 3 years?
There are 1 Million Allopathic Doctors in India, each doing 50 consultations a day. That means 50 M consultations happening in India every day. In 3 years, we want to acquire just 3% of this market i.e. 1.5 M consultations a day. We also want to expand our services to other developing and less developed nations in alliance with strategic partners in these countries.
If you get a chance to start your career again what would you do differently this time?
Study less and become an entrepreneur sooner because “school of hard knocks” is the best school to go to.
What are your top three getaway destinations?
Paris, Miami, Hawaii
Share a quote that inspires you the most.
If opportunity doesn’t knock, build a door.