CXO Outlook – February 2021 – India Edition – Healthcare Companies Special by Connecta Innovation

INDIA EDITION

FEBRUARY 2021

INSIGHTS. IDEAS. INSPIRATIONS

ANKIT KUMAR CEO, Gozero Mobility

ANUP PAI

Founder & CEO, eSamudaay

DR. APOORVA RANJAN SHARMA Co-founder & MD, 9Unicorns

CHARU NOHERIA Co-Founder & COO, Practically

PIYUSH PATHAK Founder & CEO, CommerceUp

PRADEEP P. VEETIL Founder, Concept Design Consultancy

RANJAN BAISAK Co-Founder & CEO, AppiVa Software

SANJAY KEDIA

Country Head & CEO, Marsh India Insurance Brokers

DR. DHANAJEYAN JAYAVEL Founder, Spectrum Physio

KATHIRESAN Director, Fashionfore

CXO OUTLOOK February 2021

February 2021

Vol - 2 Issue - 2

Most Innovative Healthcare Companies in India (Indian Edition) Editor in Chief

Dr. Manoj Varghese

Managing Editor Sarath Shyam

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CXO OUTLOOK February May 20202021

LETTER FROM THE EDITOR

The Repercussions of a Transformative Year

ealthcare innovation has been at the crux of almost all the discussions in 2020. Organisations in this sector faced several challenges, much like other industries, with an added responsibility of treating COVID-19 patients. However, despite the hiccups, the healthcare industry has managed to innovate and develop new ways of taking care of patients. Today, many consumers look for alternate nontraditional care delivery settings, as they wish to have their healthcare needs met remotely or from their homes' comfort and safety. As per Frost and Sullivan's analysis, digital health will continue to thrive at a growth rate of 7.9 per cent, with telehealth transforming care delivery and health IT enhancements in analytics and interoperability. The analysis also says that virtual consultations by healthcare professionals will become the mainstream care delivery model post-pandemic. However, reimbursement, training physicians, and platform scalability will be the key to recalibrating telehealth.

5 Innovative companies in the sector have already recognised the changes in consumer behaviour. They have started addressing them through tech-enabled solutions. In the coming months, we can see a lot more integrated health management system with players who provide different services coming together to offer the consumers the care they need. In this issue, we have handpicked "10 Most Innovative Healthcare Companies in India" that have accepted the challenges and utilised them as opportunities to evolve. We have also featured stories of some selected startups in India that have been at the forefront of innovation. Enjoy Reading.

Sarath Shyam

CXO OUTLOOK February 2021

ADVISORY BOARD

Dr. Kuldeep Nagi, Ph.D, MBA, BSc.

Program Director of Ph.D, Recipient of Fulbright Fellowship Award & Dan Evans Award for Excellence and Writer columnist.

Mr. Amulya Sah, PGD PM & IR, PG Diploma in PM&IR (XISS Ranchi)

Senior Director HR. Former Head HR group Samsung R&D Institute India,Transformative HR Leader, Change agent, Digitization facilitator, Engagement architect, Trainer and Diversity champion.

Dr. Varughese K.John, PhD, MBA, MPhil, MCom, LLB. Program Director, MS in Management Program, GSATM - AU

Dr. Ajay Shukla, Ph.D, MBA, BE. Co-founder and Chief Strategy Officer at Higher Education UAE

Mamta Thakur Former CEO (ASEAN), Arc Skills

Mr. Sreedhar Bevara, MBA, B.Com Former Senior General Manager: Panasonic Middle East & Africa, Thought Leader, Speaker & Author of ‘Moment of Signal’ (Amazon’s International Bestseller)

CXO OUTLOOK January 2021

C O MOST INNOVATIVE

HEALTHCARE TECH COMPANIES

IN INDIA

The Rising Champion in Sports Healthcare

Dr. Dhanajeyan Jayavel, Founder

STARTUP SPOTLIGHT

Harnessing AI to Boost Employee Performance

Ranjan Baisak Co-Founder & CEO, AppiVa Software

Finding Solutions to Problems that Ail E-commerce Businesses Piyush Pathak, Founder & CEO, CommerceUp

N T ECONTENTS N T S Empowering Entrepreneurs with DIY Digital Tools Anup Pai, Founder & CEO, eSamudaay

Shaping the Way the World Learns Charu Noheria Co-Founder, Practically

Proffering Affordable Fashion that Transcends Societal Hierarchy Kathiresan Director, Fashionfore

C O

EXPERT OPINION

IN MY VIEW

How Virtual Technologies Adoption can be a GreatLeveller for Indian Healthcare and Pharma Industry?

Is Exit Strategy the End Goal of a Venture Capitalist? A Look into an Investor's Mindset

Piyush Gupta, President, Kestone

Dr. Apoorva Ranjan Sharma, Co-founder & MD, 9Unicorns

14 Clinic of the Future

Pradeep P. Veetil, Founder of Concept Design Consultancy & Author of ‘School Design’ - A Comprehensive Guide

COVID-19 has Forever Altered the Way of Living- A Different Real Estate Post-Pandemic

Corporates Become More Cautious with Rising Cyber Risks

Dr Niranjan Hiranandani, National President – NAREDCO, FounderChairman - Hiranandani Group, & CMD - Hiranandani Communities CXO OUTLOOK February 2021

Sanjay Kedia, Country Head & CEO, Marsh India Insurance Brokers

N T ECONTENTS N T S 56

Digital Healthcare and the Importance of Data Privacy

Is There Any Vaccine or Booster Dose to Real Estate Increasing Unsold Inventory?

Benefits of Implementing an Enterprise Mobility Solution

Harshit Jain, MD & Founder, Doceree

Tushar Desai, Chief Technology Officer, Kagaay Technosolv Pvt Ltd.

Mahesh Alayil, COO & Co-Founder, Goavega Software

LEADER’S INSIGHTS

Market Trend Analysis: Advancements and Trends Under Telemedicine

Why the Digitization of Supply Chain is Mission Critical in Current Times?

Scenario of Electric Mobility in 2020 & The Expectations for the Coming Year

Alok Sharma, CEO & Co-founder, NebulARC

Ankit Kumar, CEO, Gozero Mobility

Anmol Arora, CEO, DocVita

CXO OUTLOOK February 2021

IN MY VIEW

Clinic of the Future

Pradeep P. Veetil, Founder of Concept Design Consultancy & Author of ‘School Design’ - A Comprehensive Guide

Pradeep is a dynamic multi-tasking

professional with exposure in multinational and multicultural setups, Pradeep spearheads startup projects, with experience in design management, operations, and project management for setting up and commissioning innovative built environments. He is an Architect and has spent his career with global real estate companies, world-class healthcare and education providers conceptualizing, master planning and implementing the design, Pradeep P. Veetil

construction, and procurement management of projects from feasibility to handover.

e are all going through challenging times. We salute the efforts and dedication shown by our doctors and nurses. Healthcare and education are the backbone of an economy, and doctors are leading the fight against the pandemic to keep the economy moving.

CXO OUTLOOK February 2021

Existing formal consulting room design can be reconfigured in a more patient friendly and informal manner

15 As a gesture to show my respect to the doctors, nurses and all healthcare professionals, I have designed a concept called "Clinic of the future" and want to dedicate it to all the doctors, nurses and healthcare professionals. Due to the pandemic, telemedicine has changed the way we seek medical advice from physicians. Design of doctor’s consulting rooms will have to change to incorporate these new requirements. Existing formal consulting room design can be reconfigured in a more patient friendly and informal manner. Floor plan of consulting rooms should be inviting, open, clutter free and preferably should give a homely ambience. This article will provide the reader with basic guidelines required to redesign an existing doctors consulting room into future friendly consulting space. Let us consider a typical 4m X 3m general physicians consulting room. This room has doctors table, visitor’s chairs, patient chair, examination couch, doctor’s hand wash and privacy curtain for examination couch. This typical configuration can be changed by re looking at the entire framework of patient experience. Patient’s journey is influenced by the servicescape, by doctor, the contact personal, clinic systems & procedures and experiences shared by other patients.

CXO OUTLOOK February 2021

Visible servicescape which impact patient journey consists of spatial layout, signs, symbols, artefacts, ambient conditions, exterior elements, interior elements and other tangibles. In this article, I will only focus on the spatial layout that impacts patient’s experience. The existing clinic layout conveys a sense of office environment with desk as a physical barrier between the doctor and the patient. The same 4m x 3m space can be innovatively planned with informal doctor’s seating, display wall, patient chair, visitors chair, doctor’s hand wash, examination bed and privacy curtain, all rearranged as per my conceptual layout shown below.

CXO OUTLOOK February 2021

The narrow conventional doctor’s room opens into a nice spacious interaction zone. Doctor, patient and patients relatives sit and discuss the health issues in a friendly and homely environment. A large display wall helps doctor present the reports and explain the ailments in a more interactive manner. Informative videos and remedies can be presented to the patient very conveniently with this system. Depending on the available space, clinical specialty and budget a foldable examination bed also creates a sense of openness in the room. Privacy curtain is only required during the patient examination and is kept retracted along the ceiling, which also gives a sense of openness to the room.

Foldable or conventional examination bed

Retractable privacy curtain

During patient examination, remote controlled folding examination couch opens up and a remote controlled drop down curtain provides necessary privacy. After examination, the curtain retracts and the couch folds back on the wall. This innovative doctor’s consulting room that I have designed can be adopted by allopathy, Ayurveda, homeopathy or any other alternative medicine practitioners. The single doctor clinic, with a dispensary is spread across all the Tier I, II, III cities and villages across India

and other developing regions. A great deal of primary interventions happen in these clinics. This model is one of the most convenient methods for majority of the population to get advice and prescription for their minor ailments. My aim is to improve the patient and doctor interaction space with the available technology in the limited space. Eventually we will have to educate the society to move towards preventive cure rather than the present reactive treatment.

CXO OUTLOOK February 2021

EXPERT OPINION

How Virtual Technologies Adoption can be a Great Leveller for Indian Healthcare and Pharma Industry? Piyush Gupta,

President, Kestone

Piyush Gupta began his career at Ceasefire

Industries Ltd as Key Account Manager. He joined Kestone in 2005 as a fresher in the operations team and moved quickly to manage key clients for Kestone. From there on in 2007, moved to Delhi to manage the branch and then to heading the business team. When Career Launcher acquired Kestone in 2008, he became part of the management committee which was also responsible to run the organization. In 2012, Piyush took over the role of President Piyush Gupta

and was given the responsibility of running the organization. The role continues, just that the scope now has expanded as Kestone has become a global organization.

rom tackling the challenges of the initial days of the pandemic till the introduction of Covid-19 vaccine, this one year has been the year for the pharma & healthcare industry. New challenges like medical emergencies, restrictions of physical movement, access to life saving drugs etc. prompted these industries to think differently, and they were on their toes to adopt innovative technologies with virtualization

CXO OUTLOOK February 2021

The experiential virtual platforms acted as a great leveller for the sector as it helped with preliminary diagnosis and realtime assessment of emergencies

being one of them. Use of digital technologies and virtual experiential platforms were widely adopted for remote consultation. These first level medical attention successfully addressed a lot of emergencies and eventually it opened a new world of patient care. Though a large part of the population preferred face to face interaction during consultation or buying prescription drugs from the chemist shops, digital healthcare and its advantages were soon realized. Use of user-friendly technologies and mechanisms helped these industries to reach out to the not so savvy users who felt that digital medical care is too complicated for them or just beyond their reach. The healthcare sector saw a rising demand for virtual consultation from families who had elderly patients and this has become an ongoing practice since. Vulnerability of elder group in terms of Covid-19 infection prompted the healthcare industry to set-up virtual consultation for immediate attention. The experiential virtual platforms also acted as a great leveller for the sector as it helped with preliminary diagnosis and real-time assessment of emergencies. The pharma sector along with medicine e-commerce portals adopted technological innovations to create virtual dispensaries and medical stores where people could access medicine catalogues and match prescriptions to order the right medicine, without physically going to the chemists. This resulted in efficient crisis management by facilitating contact-less buying of life-saving drugs. The onset of the new year has already brought a lot of good news for the industry and the introduction of the new Covid-19 vaccine is just the beginning. This has already promised a bright future for the industry players who have already adopted innovation. Virtual experiential platforms acted as a great leveller by enabling

CXO OUTLOOK February 2021

The adoption of virtual platforms will eventually democratize healthcare making quality healthcare accessible to people from every income group

the healthcare and pharma industry to deliberate on adoption of future oriented best practices. These platforms have helped the pharma & healthcare industry to device pro-active policies which can transform the way people used to consume healthcare services. A lot of international medical conferences were organized by global healthcare organizations, completely on virtual event platforms. These conferences brought together leading practitioners and policy makers on various virtual platforms with a rich agenda to create some really meaningful conversations. Leading speciality hospitals have shown their keen interest on virtual event platforms as they got a firsthand experience of how technology can help them create roadmaps for specialties like paediatrics, neurology, cardiology etc. This transformation has given a new direction to tele-healthcare. It’s been around for quite some time, but with virtual platforms coming to the scene, it opened new doors of opportunities for the sector. The sector can now easily facilitate dissemination of healthrelated information in a more interactive way and can better engage with patients. Remote patient care is a major part of tele-healthcare. Through virtual mediums the tele-healthcare players can now make medical intervention and monitoring more effective for long distance patients. It will also address the issue of travel restrictions and access to remote areas. The adoption of virtual platforms will eventually democratize healthcare making quality healthcare accessible to people from every income group. Futuristic and flexible features remain the main reasons these virtual platforms are gaining popularity. Medical conferences at first started with web conferring software, but they soon realized the limitations. Virtual event platforms successfully helped the

CXO OUTLOOK February 2021

industry players to migrate these conferences digitally by keeping the fluidity to connect with medical professionals from around the globe intact. Personalization, real-time networking and more engaging knowledge sharing are some other features that proved to be relevant and effective. As far as future opportunities are concerned the scope of innovation is limitless. Widespread integration of AI & ML capabilities in virtual platforms is not a distant dream anymore. Its just a matter of months when healthcare and pharma industry will be able to engage with patients and consumers in a more holistic way. Since these industries are human resource intensive, virtual platforms will also make collaboration and coordination seamless, two pre-requisites for flawless patient care. Virtual Reward and Recognition is another key area which the sector will actively focus on. The pharma & healthcare industry operates with a workforce who are the frontline warriors in this battle to eradicate Covid-19. Virtual mediums can be a tool to boost their morale by organizing innovative employee programs. Apart from virtual events the future holds a lot of promises in terms of creating virtual realism to modernize their patient relations services. It is particularly useful for old people who can’t travel easily and are vulnerable to the virus. A lot of hospitals are already creating realistic virtual clinics where one can get a preliminary check-up done and consult a doctor in real-time and the benefits are better than physical clinics. Both these industries are actively innovating in the virtual space and virtual event is one of the key areas where they are focusing. The virtual event platforms are one the other hands are showing lot of promises in terms of possibilities as over the last one year it’s been proved that virtual healthcare is the new realm for the pharma and healthcare industry.

CXO OUTLOOK February 2021

STARTUP

SPOTLIGHT

W Harnessing AI to Boost Employee Performance

The company provides a smart sales automation platform available in native mobile app and web app.

CXO OUTLOOK February 2021

hen you attempt to fill a cup with water to the brim, it will spill. It might seem like an excellent option to fill the cup to its maximum point, as you get to drink more water. However, when moving the cup, it will spill, and valuable water gets wasted. The same is the case with a company that has an active field force. Along with several tasks that the on-ground employee must check-off their list, they are also expected to manually update the managers of their progress, fill up report sheets and clarify why they missed filling a specific sheet. All these takes valuable time in their working hours. Although it may seem like the above tasks take about five minutes, it should not be forgotten that a minute saved is a penny earned when it comes to a business process. This is where ezTask.io saves the day. In 2009, when a couple of Ranjan Baisak's friends quit their job and asked him to join their entrepreneurial journey, he was hesitant. He was unsure how he could have a secure future with so many uncertainties. However, while working a full-time corporate job, Ranjan realized the importance of managing tasks effectively and how visiting multiple apps resulted in poor time management and wanted to resolve this issue with a comprehensive solution. With this thought churning in mind, he co-founded AppiVa Software Pvt. Ltd. with Bandita Baisak in 2016 and launched the my2do.in-app. This task management application effectively manages tasks so that an employee need not visit multiple apps. Then in 2020, last year, together with a team of technology, management and design veterans who share a passion for solving critical business issues of enterprises, the company launched ezTask.io, a sales automation platform that focuses on reducing non-productive

nj an

is a

An engineering graduate from Utkal University, Orissa, Ranjan is a techie who loves to code

CXO OUTLOOK February 2021

tasks and efforts incurred by the field sales team in capturing sales operations information in the CRM. It has been proven to enhance the productivity of the field sales team up to 30%. A cloud-based sales automation and team collaboration platform, ezTask.io helps carry the business solution to wherever and whenever the sales team needs it. Its real-time dashboard provides a 360-degree view of all its existing customers, new leads, and related data. Simultaneously, the advanced date-time based filtering system will help take a detailed instant snapshot of the business anytime. ezTask.io resulted from Ranjan’s observation that several companies were losing valuable time on the field that could easily be translated into money. Available on Android and iOS platforms, ezTask.io is a smart and lightweight sales automation platform that comes with a dedicated dashboard with real-time performance reports to improve sales numbers. ezTak.io empowers the Sales Team to capture their interactions in real-time and plan meticulously. With access to their calendars via mobile apps where and when they need them. Prospects and clients today need quick responses to their questions. They need to have all information before they can make the buying decisions. And ezTask.io enables the modern sales teams to do just that. Having sales collaterals and other documentation in the sales process at their fingertips, sales representatives can build tremendous efficiency in their operations while making client engagements highly effective.

CXO OUTLOOK February 2021

Ranjan Baisak

ezTask.io resulted from Ranjan’s observation that several companies were losing valuable time on the field that could easily be translated into money

Likewise, Sales Managers and leaders get access to all the data of sales operations at the click of a button. They can delegate and assign work seamlessly through ezTask.io, not to forget the real-time view of pipelines, leads and sales. The app employs a cloud-based sales assistant for field force automation and offers a dynamic pipeline to support customizing workflow. AI-powered To-Do List The task management product, my2do.in, on the other hand, allows the user to set, assign, delegate and share tasks and it's status. Additionally, the user can set tasks for specific periods and tasks based on time and location. The user will be notified when the user is within the specified distance of the destination. The app also allows a task to have multiple participants. Each participant will be notified by mail/SMS/push notification about the task, and the response from participants is displayed to the owner of the task. Moreover, task attendees can chat with each other. It also offers

a configurable view setting that allows for adding multiple calendars, task view, enable/disable SMS/ mail management etc. The company is currently working on an update for the app—eZilly. An Engineering Graduate from Utkal University, Orissa, Ranjan is a techie who loves to code. When AppiVa's Cambodian client demanded the app be made compatible with the iOS platform, the team first looked for outside experts but realized that it was a learning curve. Ranjan, along with his tech team, rolled up their sleeves and got down to work. Within months, they could produce the desired results, fulfilling their client's needs. Having a customer base spanning the automobile, healthcare, and pharmaceutical sector, AppiVa is on its way to scale up and bring in presales and post-sales AI-enabled support. In the long term, the team is hopeful about bringing project management, product management, marketing management etc., under a single umbrella, offering a host of AI-driven and automated solutions to their client's benefit.

CXO OUTLOOK February 2021

LEADER’S INSIGHTS

COVID-19 has Forever Altered the Way of Living - A Different Real Estate Post-Pandemic

Dr Niranjan Hiranandani, National President – NAREDCO, Founder-Chairman - Hiranandani Group, and CMD - Hiranandani Communities

Niranjan Hiranandani is an Indian billionaire

entrepreneur, co-founder and managing director of Hiranandani Group, engaged in real estate business. He is ranked by Forbes among the 100 richest Indians. In 2017, he was in the Top 10 Indian real estate tycoons according to the Grohe Hurun report. In 2020, he was the second richest person in the Real estate Sector as per the IIFL Wealth Hurun India Rich List. Along with members of his family, Hiranandani controls the privatelyowned Hiranandani Group. Dr Niranjan Hiranandani

he year 2020 has been unprecedented with the coronavirus pandemic dishing out a volley of challenges globally and India was no exception. The last quarter of FY 19-20 signaled a positive recovery trend in spite of economic slump due to a series of economic and policy reforms introduced by the central government. The pandemic induced total economic lockdown brought Indian economy to grind halt, wherein Indian real estate was badly affected. It was arguably, the most challenging time that Indian real estate has witnessed. With migrant labor reverse-migrating; customers unable to

CXO OUTLOOK February 2021

No doubt, that Indian economy has shown greater resilience and is now bullish towards revival from survival mode with GDP forecasts coming in positive scale

visit project sites, liquidity crunch and breakdown in the supply chain, was a period of despondency. The silver lining to dark clouds was digital modes that came as a rescue to human interface, amidst enhanced automation and mechanization. Real estate players had to quickly brace up and tune their promotional and interactive activities via digital platforms to communicate with their visitors and prospects. These digital tools equipped home seekers with most of the relevant data and details about the project, product, location and the developer’s track record. Government and Apex bodies came up with innovative fiscal measures to deal with the real challenge of liquidity funding. The cascading effect of the recent policy reforms led to severe liquidity crisis and COVID-19 pandemic was the last nail in the coffin. While the Government followed trials of ‘Jaan and Jahaan’- the economy witnessed survival of the fittest. The recalibrated unlocking of economy under ‘Mission Reopen’ gained momentum with economic activities springing back under the new normal situation. The liquidity measures introduced by RBI and Union Finance minister injected liquidity into the market for it to recuperate quickly. No doubt, that Indian economy has shown greater resilience and is now bullish towards revival from survival mode with GDP forecasts coming in positive scale. The liquidity infusion and enhanced low-cost credit measures definitely addressed the supply side of the economy, but the consumer spend would need demand impetus. To enhance the disposable income in hands of consumers for inducing spends, pushed authorities to slash interest rates to its historic low, NO GST post OC received, slashed stamp duty at the state level, extension of credit guarantee scheme, advanced outlays of PMAY-U, and also thrust on affordable rental housing.

CXO OUTLOOK February 2021

Indian economy is consumption driven, and the onset of festive season fostered the demand for housing in tandem with favourable market conditions. The media reports reveal improved home sales and enhanced property registrations nudging fence sitters to get converted into actual home buyers. The need of owned homes was underpinned in a pandemic crisis on grounds of comfort, convenience and community living. The new normal routine urged redesigning of home layouts in order to encompass work\ study\ wellness from home culture and promote walk to work culture. The demand for efficient layouts with extra flexi space and luxury homes to upgrade the lifestyle topped the homebuyer’s wish list. There is also renewed demand for home automation and technology driven amenities on the drawing board of developers to fuel the growing demand of new age homebuyers. Similarly, The pandemic has resulted in sanitation and hygiene gaining in importance, as has better ventilation and natural light and amenities like uninterrupted power supply, fiber-optic connectivity for robust Internet connectivity etc. The remote work culture, geo-political uncertainities, currency depreciation and values of other investment assets went under sharp volatility, real estate as a safe bet investment highly attracted NRI communities across the globe to invest in safe nest back home. Gradually there is a change in home buyer profile with female buyers and renters opting to buy their first home will be the largest segment of home buyers in FY 20-21. Commercial real estate was adversely affected with lockdown that led to work from home and remote work culture. But, walk to work culture is now building up on come back to office momentum which prioritizes to promote employee networking culture, sanitization, and wellness care. The renewed commercial spaces would need to adhere to the social distancing norms and need large office floor plates to accommodate the workforce. Also, decentralizing office space

CXO OUTLOOK February 2021

The renewed commercial spaces would need to adhere to the social distancing norms and need large office floor plates to accommodate the workforce

29 for business continuity plans will augur the demand for co-working spaces, flexi space, and business centre in proximity at the peripheral locations The future of the real estate industry would witness consolidations and JV’s and JD’s as a new trend. The process is separation of grain from the chaff, and branded developers with proven track record and financial stability will sustain – it will be survival of fittest, to put it simply. Business models will change, and low debt ratio with financial implications being closely monitored will be the norm. The industry will continue to seek low-cost financing. ‘Customer centric’ will be the mantra from 2020 which will grow into the future. Even as a vaccine for COVID-19 appears to be on the horizon, it does not mean humankind will return to the old definition of normal. So, as social distancing norms as also sanitization and safety precautions continue, the aspects of Work from Home as also Work from Remote will continue

to gain ground through end-2020 and into 2021. The thrust to informal gig economy which results in changed parameters for workspaces will impact the requirements of homes cum working spaces. The most important aspect going into 2021 will be the need for real estate to be ‘cost effective’. Another major change will be enhanced importance to sustainable development. Green real estate development is the future. So, recycling of water and waste, rainwater harvesting, control over carbon emissions, green spaces and solar as also renewable power generation alternatives will be the watch-words through end-2020 into 2021. COVID-19 has forever altered the way of living, and the realty market will foresee new trends and preferences that foster better quality of living. However, revival of Indian real estate sector is inevitable as it is the second largest employment provider. Nearly, 269 allied industries will have a multiplier effect with the regaining of the real estate & construction sector.

CXO OUTLOOK February 2021

MOST INNOVATIVE

HEALTHCARE TECH COMPANIES

IN INDIA

CXO OUTLOOK February 2021

oth startups and large companies in India are slowly redefining quality healthcare delivery in India, bridging the gap between patients and healthcare providers through various digital solutions. It does not just bridge the gap but also creates an ecosystem designed to deliver better and faster quality healthcare within the environment. Healthcare institutions are increasingly harnessing the power of advancing technologies to provide personalised, better informed, and efficient care. Healthcare professionals have made significant advancements in this sector with wearable health bands that track health in real-time, the ability to schedule doctor appointments using a mobile app, avail reports online, consult a specialist over a video call, and effortlessly carry medical history and reports within a healthcare portal on a smartphone. The healthcare sector is growing rapidly in the Indian landscape in terms of revenue and market share. The Indian healthcare industry pegged at $100 billion is expected to grow by 23% by 2020 to $280 billion. This growing market has given rise to many health-tech startups in India. They cater to various healthcare segments, help book appointments, sell medicines online, and operate as a commercialised unit of the venture. The invasion of technology in the healthcare industry has played a huge role in its growth. Disruption in healthcare is driven by changing patients'/customers’ needs, digitalising the services, and advancing medical technologies and clinical processes. Displaying companies delivering cutting-edge solutions, CXO Outlook has come up with “10 Most Innovative Healthcare Companies in India”, to showcase the organizations that understand the needs and demands of the ever-growing healthcare industry.

CXO OUTLOOK February 2021

MOST INNOVATIVE

HEALTHCARE

TECH COMPANIES

IN INDIA

Company Name Apollo Hospitals

Aster DM Healthcare

Biocon

Dr. Prathap C. Reddy, Chairman

Azad Moopen, Chairman and MD

Kiran Mazumdar Shaw, Executive Chairperson

Description The company has a robust presence across the healthcare ecosystem, including Hospitals, Pharmacies, Primary Care & Diagnostic Clinics and several retail health models. The company covers an array of healthcare verticals, from hospitals, clinics, pharmacies and healthcare consultancy service. The Company manufactures generic active pharmaceutical ingredients (APIs) that are sold in over 120 countries across the globe.

Umang Vohra, MD & Global CEO

The company primarily develops medicines to treat respiratory, cardiovascular disease, arthritis, diabetes, weight control, depression and other medical conditions.

Dr. Reddy's Laboratories

Satish Reddy, Chairman

The company has over 190 medications, 60 active pharmaceutical ingredients (APIs) for drug manufacture, diagnostic kits, critical care, and biotechnology products

Lupin Limited

Vinita Gupta, CEO

The company’s businesses encompass the entire pharmaceutical value chain, ranging from branded and generic formulations, APIs, advanced drug delivery systems to biotechnology.

Cipla

Key Person and Designation

Piramal Enterprises

Spectrum Physio

Sun Pharma

Wockhardt Limited

CXO OUTLOOK February 2021

Nandini Piramal, Executive Director

The company offers a wide range of financial products and solutions, with exposure across both wholesale and retail financing.

Dr. Dhanajeyan Jayavel, Founder

The company provide state-of-the-art physiotherapy and rehabilitation services with most advance physiotherapy and rehabilitation concept and advance exercise and electrical modalities.

Dilip Shanghvi, Managing Director

One of the largest pharma companies in India, making pharmaceutical products for therapeutic areas like diabetology, cardiology, neurology and many more.

Dr. Habil Khorakiwala, Chairman

India’s leading research-based global healthcare enterprise with relevance in the fields of Pharmaceuticals, Biotechnology and a chain of advanced Super Speciality Hospitals.

CXO OUTLOOK February 2021

MOST INNOVATIVE

HEALTHCARE

TECH COMPANIES

IN INDIA

SPECTRUM Physio

The Rising Champion in Sports Healthcare A

charming and vivacious young boy from a town with the agriculture cultivating belt in north Tamil Nadu, Dhanajeyan Jayavel grew up watching his blue-collar labours working hard in the yard and fields. He saw them working hard in the fields, loading and unloading heavy sacks of produce to and from the truck and struggling with body pain that seemed to stay throughout the year. He observed them pop painkillers that only gave them momentary relief. Through his friend's father, who was a physiotherapist in the USA, Dhanajeyan came to know about how Physiotherapy can help alleviate

CXO OUTLOOK February 2021

pain with less to no medicine. This sparked an interest in young Dhanajeyan's heart, and he set his mind to study more about it. When he started on his path to master Physiotherapy, he was least affected by the fact that the country had little interest in the subject and there were only a few physiotherapists then. Fast forward 2006, Dr. Dhanajeyan Jayavel set up his first clinic in Bangalore, Spectrum Physio. A self-made man, he believes in giving back to the society-just like his role models, Mother Theresa and Ratan Tata-and wish to keep his philanthropic work anonymous. Following his

Dr. Dhanajeyan Jayavel, Founder

father's guiding words, to take the road least travelled, Dr. Dhanajeyan has been a recognized professional in his field and also set up an association for physiotherapistsBangalore Physiotherapist Network- and serves on the board as Founder and Managing Trustee. Dr. Dhanajeyan set up Spectrum Physio to fulfil his ambition of shaping up a team of physio doctors across the globe to help alleviate pain and lead a better lifestyle and to create physiotherapy leaders for tomorrow. Spectrum Physio, with over 15+ years of experience of offering advanced and specialized training in manual

therapy (Spinal manual therapy & Kinesiotape), physiotherapy and rehabilitation services along with sports injuries, is one of the largest chains of physiotherapy centres in Bangalore. The official Sports Physiotherapist for Indian indoor cricket team, Spectrum Physio is the official Physio for top list cycling events like Tour of Nilgiris, Great Malnad Challenge, Tour of Karnataka, Bangalore Bicycle Championship and Karnataka Forest Department Cycling, physio partner for 5K,10k, Marathon running events. Spectrum Warriors, the team owned by Spectrum Physio, is the title winner of Unite Physio League 2019 organized

CXO OUTLOOK February 2021

by Unite Physio Sports association. They are also the part of Spectrum racing team with topmost high-performance riders from various part of the world. Proven Pain Management Efficacy Spectrum Physio follows an advanced method of pain management and has higherend rehabilitation set up including functional training and strength and conditioning that helps the patient to recover completely from the root cause. It also owns a special tailormade software with detailed technology, where everything is monitored and tracked for the individual's pain relief and recovery from disability to lead a healthy lifestyle. Currently, Spectrum Physio offers Out Patient Department, In Patient Department, In-house physio, Sports Physiotherapy, Corporate wellness, Online work wellness sessions, Online Physiotherapy consultation and treatment and homecare services. DCT – Decompression therapy, an US FDA approved advanced machine which will help the individuals suffering from Spine problems can be cured without surgery in majority of cases. Spectrum Physio’s doctors understand the patient’s history along with the actual reason for pain, perform a physical examination and accordingly plan the treatment. These ensure that the patients do not have to carry an unnecessary financial burden. The doctors stress on quality and standard of care, patient health, cost-effectiveness and time management, and makes it a point to educate patients in detail about their medical condition. Strictly adhering to providing systematic higher-end service and quality treatment, the brand has become synonymous for excellence and uniqueness in the healthcare

CXO OUTLOOK February 2021

Spectrum Physio follows an advanced method of pain management and has higher-end rehabilitation set up including functional training and strength and conditioning that helps the patient to recover completely from the root cause.

industry. Even during the pandemic, where the usual mode of operations was uprooted and Physiotherapists and Physiotherapy clinics experienced a lot of challenges, Spectrum Physio stood its ground. "Physiotherapy is a treatment where it is impossible to maintain social

CXO OUTLOOK February 2021

distancing as the treatment includes manual therapy. However, we urged those patients willing to come down for their appointment to choose online consultation. This decision of ours helped us gain our patients' trust when the lockdown was lifted and clinics were finding it challenging

to generate the trust and make footfall, as everyone was so specific about precautions, sanitization and hygiene. We are expanding our services to various other sectors on preventive spine health care online and offline and looking for investors to expand across the globe, specifically to South Asia," says Dr. Dhanajeyan Jayavel, Founder, Spectrum Physio. A Team That Works in Unison While Spectrum Physio's non-clinical quality analysis team concentrate on improving and maintaining the quality of infrastructure facilities, the academic and clinical quality analysis team works on customized protocols that ensure best-in-class service for the patients. Meanwhile, the academic wing ensures regular training and knowledge transfer by encouraging doctors to take part in panel discussions. Spectrum Physio also conducts weekly academic and administrative meetings, and manager meetings every month, to maintain the

quality of service. Each month the team of 30+ qualified and experienced physiotherapists and non-clinical team get together for lunch and participate in activities to renew and cherish the bond within the team. Having collaborated with 10+ sports clubs and sports events in the country, Spectrum Physio's sports therapists will be engaged around the year. Looking forward to setting new milestones, Dr. Dhanajeyan Jayavel plans to expand more Spectrum Physio centres across Bangalore and in 2022, pan India.

CXO OUTLOOK February 2021

EXPERT OPINION

Is Exit Strategy the End Goal of a Venture Capitalist? A Look into an Investor's Mindset

Dr. Apoorva Ranjan Sharma, Co-founder & MD, 9Unicorns

Dr. Apoorva Ranjan Sharma is the Co-founder

and Managing Director of 9Unicorns. He is a seasoned veteran in the startup sector and a serial investor. He is a seasoned veteran in the startup sector and a serial Investor. He is a globally acclaimed angel Investor, speaker and previously been a speaker at RISE conf. Hong Kong, Web Summit Lisbon, TiE Global SF and many more.

Dr. Apoorva Ranjan Sharma

CXO OUTLOOK February 2021

"Just like farmers, venture capitalists seed, tend, and feed portfolio companies in the hopes of reaping a bountiful harvest." - William Bygrave and Jeffry Timmons, Venture Capital at the Crossroads For any entrepreneur, the goal is to build a successful business that creates economic value. Likewise, the investors' goal is to maximize their capital surplus by helping these entrepreneurs build valuable companies with financial support, strategic guidance, and mentorship. It takes a considerable amount of time and a lot of due diligence to spot that one or two startups that could turn that investment into a fortune one fine day. It is equally taxing and grueling for an investor, along with the founder, to turn one idea into a billion-dollar business. It is

Of the thousands of businesses that start every year, investors tend to seek the ones with well-established exit plans that align with their future goals

not always that one idea or one founder determining the startup's growth from an investor's perspective but a thought-through strategy that includes a combination of innovation, vision, funding, and determination. A systematic plan is a crucial ingredient that brings all these factors together to make a success story. Informed, data-driven strategies across functions play a critical role in the decision-making process, helping the leadership create a blueprint of progress. Investors have their strategy for how long to stay invested or when to exit while also contributing to developing the entire startup ecosystem. For every investor, a pre-planned exit strategy is essential. While most of the time, the exits are well defined and timed but the importance of a robust exit strategy depends on scenarios such as sudden market changes, personal business problems, unexpected offers, and even illiquidity. According to the UBS (NYSE: UBS) Q1 Investor Watch Report, "Who's the boss?" 48% of business owners lacked any formal exit strategy even though selling the business was the preferred long-term plan of 52% of the respondents. Another study by Securian Financial Group showed similar results, where 72% of small business owners had no exit strategy at all.

Proper exit strategy needed? Of the thousands of businesses that start every year, investors tend to seek the ones with well-established exit plans that align with their future goals. One of the primary reasons is that organizations that have

CXO OUTLOOK February 2021

With a pre-planned strategy, investors can acquire the desired return or cash in on their funds when required, hence providing them the flexibility to get the most out of their investment

an effective exit strategy reinforce the investors' confidence in their business vision and management. It also allows for a smooth termination, transition, or transfer of the business ownership in case of any eventuality. Doing so empowers organizations to minimize risks and maximize the benefits for all the stakeholders involved. With a pre-planned strategy, investors can acquire the desired return or cash in on their funds when required, hence providing them the flexibility to get the most out of their investment. Take the example of Beardo, a recent example of a successful exit story from the Indian startup ecosystem. Following the acquisition by Marico, the men's grooming brand provided lucrative returns and a full exit to its investors and founders within five years of its incorporation. The value of the acquisition fell between INR 350 and INR 400 crore. Beyond the financial pastures Although an investor committing to a startup indeed hopes to receive an amplified return on their

CXO OUTLOOK February 2021

investment, to say that they are only interested in their financial gain is incorrect. For an investor, the story doesn't start and end with an exit strategy. Investors also act as critical drivers of social change and innovation by supporting socially driven enterprises and causes, including those operating in the sunrise sectors such as cleantech, agritech, biotech, etc. Besides encouraging sustainable practices like energy conservation, waste reduction, and green energy creation, investors mentor young entrepreneurs and provide them with the necessary guidance as and when required. Strategic direction helps early-stage startups to find the right path and solidify their vision in the dynamic business landscape. By doing so, investors extend their duty of care beyond providing mere financial help, thereby forging a more profound and meaningful relationship with the startup ecosystem. This synergy forms the backbone of the latest stage of the industrial revolution, which aims to lead the world towards a progressive and prosperous future in line with sustainable development tenets.

Want to Sell or find Investor for your Business? 43

CXO OUTLOOK February 2021

STARTUP

SPOTLIGHT

W Finding Solutions to Problems that Ail E-commerce Businesses

Founded by Piyush Pathak, CommerceUp is a cloud based flexible and adaptable ecommerce platform designed to fulfill retailers real needs at the forefront with technical innovation.

CXO OUTLOOK February 2021

hile studying in a reputed college, a young music-keen student, Piyush Pathak, wanted to join the college's music club. However, the club was more accepting of expert musicians who had to give an audition in their first year to land a seat. Not a trained musician, Piyush failed the audition and could not take part in the club. Disappointed, he wondered why only professionally trained students were selected and not those who had a genuine interest in the subject. Piyush believed that everyone needs a fair chance even if someone could not afford/ attend masterclasses like their peers. This thought inspired him to start a new club named "Gurukul" (Department of Music) that helped students learn music. As one of the founding members, Piyush ensured that Gurukul presented at least one music night every semester, giving a chance to people who wanted to learn but not already pro. Despite having no financial support for the first two years, the team managed by renting/ bootstrap. In his 3rd year, this department was recognized by the college administration and was adequately funded to buy musical instruments. Gurukul still exists. Even after 9 years, it helps young aspiring musicians tap into their genius. Gurukul was train run for Piyush as an entrepreneur. It gave him the strength to do what he does today, pushing him to start CommerceUp. Piyush says, "When you start an e-commerce business, your customers expect the kind of experience they get with leading e-commerce marketplaces (Amazon/Flipkart). Working on multiple e-commerce platforms and building websites, I was not happy with software in the market.” Piyush realized that most e-commerce platforms were just website builders while customers were shifting to

We are on the right path now and focusing on brands and businesses who are into serious e-commerce business and just need the right technology partner

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CXO OUTLOOK February 2021

Piyush Pathak

CXO OUTLOOK February 2021

mobile and purchasing on mobile and expecting an omnichannel presence. He adds, “I wanted to build a mobile-first e-commerce platform. This also needs to be cost-effective but provide cutting edge technology in the market. That is where CommerceUp came as modern SaaS e-commerce platform, which is fast to launch and scalable to fulfil unique e-commerce business needs.” With the mission to create the best B2B and B2C platform on the market for commerce innovators, CommerceUp focuses on a mobile-first e-commerce platform- one platform to build the website and mobile apps. CommerceUp is a DIY platform and offers complete design and digital agency experience from brief to design, build, and launch. The in-house team helps create a unique tailor-made e-commerce experience for businesses. Angel-funded by Piyush's exemployer, Mr Gaurav Bhatnagar (CEO travel boutique online) & Mr Manish Dhingra (MD, Mediology software), joined hands with Mr Neelesh Bhatnagar (MD, NB Ventures) based out of Dubai in supporting commerceUp. Piyush recounts, “Mr Neelesh was quite excited over my new venture as he was running his e-commerce business in Dubai. He was not very happy with the tech stack and wanted to do something big.” When Mr Neelesh heard the idea and technology that Piyush had made a prototype on, he was on board to support CommerceUp. CommerceUp started with a very small team that firmly believes in quality over quantity. Everybody knows what they need to do and have an essential role in the company. “Sometimes our team works on multiple roles, and that's what startups are all about,” Piyush shares. After

Being a mobile-first progressive website available across mobile apps supported in iOS and Android, CommerceUp avails detailed catalogue management to govern the products, collections, attributes, and brands

COVID-19, Piyush and his team have been working from home. However, CommerceUp overcame the COVID-19 challenge by expanding its client base to UAE. Piyush pinpoints, “We believe in automation and use the latest software for easy communication with clients and across the team, which helps us provide the best support with limited people itself." Piyush understands that entrepreneurship is truly a learning process. While researching for CommerceUp, he realized that a normal website that shows the product is also labelled an e-commerce website that displays the basic feature of buying for a one-person team to a marketplace, where tons of people are working, forex: Nykaa, Flipkart, Myntra or many more. "We took our time by experimenting with what fits best for our e-commerce platform. Is it a seller who sells on WhatsApp and wants to have a website, or is it brands who want a reliable business? That brought a few learnings. We are on the right path now and focusing on brands and businesses who are into serious e-commerce business and just need the right technology partner," explains Piyush. Being a mobile-first progressive website available across mobile apps supported in iOS and Android, CommerceUp avails detailed catalogue management to govern the products, collections, attributes, and brands. Having integrated with logistics and multiple payment gateways, CommerceUp is customizable. Unlike traditional e-commerce websites, CommerceUp has an omnichannel experience that provides multiple sales channels across websites, mobile web, and mobile apps that could be managed through a single dashboard. Moving forward, Piyush is excited to map out CommerceUp's growing and expanding customer base in UAE and India. "We have plans to integrate best practices and tools of marketing to not only provide customer experience while on the website but also to reach your potential customers," he concludes on a positive note.

CXO OUTLOOK February 2021

LEADER’S INSIGHTS

Corporates Become More Cautious with Rising Cyber Risks

Sanjay Kedia, Country Head and CEO, Marsh India Insurance Brokers

Companies in India are reporting more

cyberattacks than any other country in the world. Cyber security incidents in India tripled to 3.5 lakh in July, August from Jan-March. “Work-fromhome situations in a true sense tested the cyber resiliency of the firms and has brought forward the importance of cybersecurity as the topmost agenda item for these firms,” says Sanjay Kedia, Country Head and CEO, Marsh India Insurance Brokers. In a conversation with CXO Outlook, Sanjay Kedia talks about trend observed in demand Sanjay Kedia

of cyber insurance policy, inclusions and exclusions of cyber insurance policy in pre and post COVID – 19, sector that has observed increase in demand for cyber security insurance and much more. COVID-19 outbreak has companies to have a re-look at cyber insurance covers. What are the trends observed in the demand for cyber insurance policy? Since the beginning of the COVID outbreak, many companies have accelerated or expanded the adoption of telework due to the need for an extremely quick ramp-up of IT solutions to ensure business

CXO OUTLOOK February 2021

While organizations have rushed to establish remote working capabilities, the biggest challenge is migrating from a physical presence to a virtual one

continuity. This has resulted in one of the largest workfrom-home situations in history and as an outcome of that cybersecurity has got stressed to a level never experienced before by corporations around the globe. It has in a true sense tested the cyber resiliency of the firms and has brought forward the importance of cybersecurity as the topmost agenda item for these firms. Besides large IT companies, now there is also a growing demand for cyber insurance policies from smaller companies and manufacturers who feel the need to be covered against cyberattacks. There is not only a surge in inquiries for cyber insurance, but many companies are going ahead and increasing the limit of their existing cyber cover as they see a higher risk now.

With more people working from home, what types of threats companies are facing in the present scenario? With employees, and others asked to function remotely under stressful circumstances, and infrastructure pushed to handle more activity, it presents more opportunities to cyber attackers since home networks are less secure. These threat vectors are employing phishing and social engineering techniques using Covid-19 as the hook. While organizations have rushed to establish remote working capabilities, the biggest challenge is migrating from a physical presence to a virtual one. While doing so, the major threats to be considered are: a. Network Availability and system outages b. Remote working/e-learning / telemedicine presents an expanded attack surface c. Phishing Exploits and Social Engineering frauds

CXO OUTLOOK February 2021

d. Relaxing of Privacy Policies and Procedures e. Potential Delays in Cyber Attack Detention and Response

What is the scope of coverage provided by cyber insurance policies in the market today? What are the inclusions and exclusions of cyber insurance policy in pre and post COVID – 19? a) Cyber policies have many coverage modules, but all are designed to address three core types of costs, all stemming from the same basic scenario: you lose control of your critical data. i. Privacy Liability & Regulatory Fines ii. Data Breach Costs iii. Business Interruption & Extra Expenses b) We can foresee claims during the COVID situation and policy to trigger under the below extensions: i. Network Business Interruption, to cover the insureds for loss of income arising out of an interruption or suspension of computer systems due to a network security breach, administrative error, or system failure. ii. Breach Response Service will cover direct breach loss mitigation costs like IT forensics, notification, credit monitoring, and public relation efforts. iii. Fines & Penalties following a privacy breach event or for failure to comply with other aspects of privacy laws & regulations would be covered under Regulatory Defense expenses c) All liability policies have a list of exclusions build in and Cyber Insurance is no different. We foresee the following exclusions under a standard policy which can limit the coverages: i. Infrastructure exclusion – excluding failure of power, utility, mechanical or telecommunications (including internet) infrastructure or services that are not under the insured’s direct operational control

CXO OUTLOOK February 2021

More about

Sanjay Kedia Sanjay Kedia, Country Head and CEO of Marsh India Insurance Brokers Pvt. Ltd, is responsible for the management and growth of Marsh’s business in India. Sanjay joined Marsh India since its inception in November 2002 and helped in setting up the business in a very nascent insurance broking market in India. Sanjay has an MBA from SP Jain Institute of Management and has done his Advance Management Program (AMP) from Harvard Business School. He was selected for the Marsh 2006 Global Top Performer Award. He was also a part of the project finance advisory and debt syndication team with a leading financial institution for four years. In that capacity, he managed

project advisory assignments for large deals in the power, telecom, road, and water sectors. Sanjay is also president of the Insurance Brokers Association of India, (IBAI). He is passionate about elevating the conversation on risk and has been a panelist in many leading risk consulting forums. He divides his personal time between gearing up for marathons and contributing to societal welfare/CSR initiatives.

ii. Business interruption coverage may be limited – some policies only cover business interruption from external cyber events or attacks but may not extend to system failure or voluntary shut down. iii. Policy definitions may limit coverage - definitions of a computer system or network should be reviewed d) Other coverage limitations – coverage for fraudulent transfer of funds due to phishing or social engineering may be sub-limited or excluded.

Tell us about the sector that has observed an increase in demand for cyber security insurer The cyber insurance market is growing rapidly every passing day and we usually have an enquiry from IT / ITES to the manufacturing sectors on a daily basis. With the current situation of COVID, we have witnessed an increase in demand and insurer scrutiny for sectors like – Airlines, Hospitality, Retail & Financial Institutions.

CXO OUTLOOK February 2021

STARTUP

SPOTLIGHT

F 52

Empowering Entrepreneurs with DIY Digital Tools eSamudaay aims to empower entrepreneurs with DIY digital tools and enable them to run digital businesses, serve their communities and spark grassroots local innovations.

CXO OUTLOOK February 2021

or the 120-year-old grocery store, KV Pai and Sons in Udupi, Karnataka, the pandemic changed everything. According to its owner, Ajesh Pai, who inherited the business from his father says for the first time, with the pandemic's onset, he had to rethink his business strategy and realised it was time to move digital. For millions of homes, local Kirana stores like Pai & Sons' ability to adapt saved the day. Ajesh Pai maintained a near-steady supply of daily items and ensured that people are not devoid of essential commodities during an outbreak of a terrible virus. "The stories of Ajesh and Pai & Sons' stores display the resilience of small grocery stores. We helped Pai &Sons' to go digital," says Anup Pai, who founded eSamudaay, which is possibly the first company to offer a local eCommerce stack as a service to enable independent, autonomous companies to operate local digital commerce marketplaces. Ajesh had a choice to look at several players who were digitising small businesses. However, he joined eSamudaay because he was particular about choosing a digital platform that is purely community focused and one that serves the local customers. "eSamudaay aims at providing an alternate model for digital adoption in India. The idea is to decentralise eCommerce and build a network of local entrepreneurs called 'Business Mentors' who will run small, independent and sustainable digital ecosystems at the local and even hyperlocal level," explains Anup. Today like K V Pai & Sons, eSamudaay has been helping 100+ sellers go digital in the Temple town of Udupi during the pandemic. It has launched grocery services, restaurant food deliveries, farm products, and pharmacy service on its Udupi exclusive app. In the next 12 months, eSamudaay, like in Udupi, looks to

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eSamudaay aims at providing an alternate model for digital adoption in India

CXO OUTLOOK February 2021

set up over 2000 independent local commerce platforms across India, including Chandigarh, Nashik, Myore, Shillong Warangal, Patiala, Indore, and Varanasi.

Empowering Local Business through LCommerce While large conglomerates dominate the current e-commerce narrative, models like eSamudaay can be pivotal in enabling decentralised, selfgoverned digital marketplaces benefitting every stakeholder in the ecosystem. Anup opines, "digital empowerment has not yet percolated down to small producers and merchants in the nooks and corners of India. Consumers and producers within communities also don't have enough visibility with each other." eSamudaay provides a huge opportunity for commerce within and between communities, empower small producers and promote local innovations. eSamudaay was founded during the COVID lockdowns. Anup recounts, "We saw that there is a massive need for digital adoption in non-Metro areas as well as a huge demand for entrepreneurial opportunities with a limited capital requirement, especially from the youth. Decentralised local digital platforms were seen as an approach to solve for both while also reducing the economy's dependence on big tech platforms." eSamudaay's flagship product is a multi-tenancy SaaS product which provides a "Business in a box" toolkit for aspiring digital entrepreneurs to set up and scaleup local commerce (LCommerce) businesses. It brings together all the sellers of the town on a locally run digital platform which practices responsible data stewardship. eSamudaay practices decentralised organising and a non-hierarchical, networkbased structure. The founding team during the early discussion stage included Anup (20+ years in Banking technology), Ravinder Singh (10+ years in platform

CXO OUTLOOK February 2021

engineering) and Ravi Haldipur (20+ years in Business Development). Since the initial days, eSamudaay team has been joined by Medarisha Lyngdoh (15+ years in software project management), Venkatesh Nadhan (20+ years in Advertising and marketing), Sharmila Krishnaswamy (20+ years in operations) and Sudarshan Simhan (20+ years in HR). The team also includes our core partners such as Studio Carbon (Design), BlitzSquad (GTM/ Rollout), and Strategence (Digital Marketing). "Every participant, including our partners, are shareholders in eSamudaay, and everyone has an entrepreneurial mindset. Support comes from the deep sense of purpose we all share and also the belief that decentralised networks will prevail in "Web 3" - the third era of the Internet," pinpoints Anup. Being a Life-long Entrepreneur Anup's life as an entrepreneur began early under his uncle's tutelage, who was the proprietor of a grocery store set up in 1896 in the temple town of Udupi. "Supplying the shop with biscuits baked by my mother and then working in the shop and getting exposure to all aspects of the running of the business during my school days," recalls Anup. However, Anup helped many banks implement core banking and other systems before getting into some serious business. His first venture was Fintellix Solutions that he founded in 2006. "Fintellix was set up to help banks turn data into an asset leveraging techniques like data warehousing. Fintellix was also the first mover in India to use Data management techniques to automate data flow from the Banking system to the Regulator (RBI)," shares Anup. The company served global banks such as BoA, Citibank, BNP Paribas, ICICI, and HDFC, and operated out of India and the U.S. In 2017, Nasdaq listed Verisk Analytics (VRSK), acquired Fintellix. From setting up a

eSamudaay's flagship product is a multi-tenancy SaaS product which provides a "Business in a box" toolkit for aspiring digital entrepreneurs to set up and scaleup local commerce (LCommerce) businesses

company in 2006 as a single founder to joining hands with a co-founder after three years and raising two rounds of Venture Capital from Tier 1 VC, Anup has had many milestones during his entrepreneurial journey. Anup adds, "Burning the VC money too quickly and then struggling toward profitability and independence from external capital, finding a buyer for the business and ensuring a good outcome for all parties are also some of the major milestones." In 2019, post the exit from Fintellix, Anup went on to invest and mentor over a dozen startups. He focused on investment themes such

as decentralisation and democratisation of digital and backed firms that designed products and solutions focused on decentralisation. While still dabbling with startup investing, Anup has his second entrepreneurial venture, community commerce platform focused on digitising micro-entrepreneurs across India. Today, Anup's immediate goal is to establish LCommerce (Local eCommerce) as a model for the faster, more efficient spread of digital across India. "In the long term, we want to establish eSamudaay as a Digital Bank platform for entrepreneurs," concludes Anup.

CXO OUTLOOK February 2021

EXPERT OPINION

Digital Healthcare and the Importance of Data Privacy

Harshit Jain, MD and Founder, Doceree

Dr Harshit Jain is the Founder and CEO of

Doceree, the First Global Network of Physicianonly Platforms for Programmatic Marketing. With Doceree, he is aiming to address the acute problem of rising cost of healthcare by bringing in efficiency and effectiveness in marketing to Physicians by pharma brands on digital platforms with methodical use of data and creativity. In his over 13 years of professional journey, he weaved together his domain expertise of medicine and his marketing Harshit Jain

acumen to come up with out-of-the box ideas and campaigns

he pandemic changed the way we once lived, even how healthcare was once delivered. Digital healthcare that seemed a distant notion to many before the virus outbreak became a reality when we ran out of the option to see a physician personally. The government too now bats vociferously for adoption of digital ways and means as its potential to make quality healthcare accessible

CXO OUTLOOK February 2021

When enormous amount of data is already being generated every day, then recording unstructured health information and organizing it to make healthcare delivery convenient will further add to the sea of data

57 to the people of the country is huge, and until now not well exploited. Last year, Prime Minister Narendra Modi announced the launch of ambitious National Digital Health Mission (NDHM) that mandates Health IDs for the citizens of India. The health IDs will hold health records of people in a digital format. This is appreciable how the government is making the healthcare ecosystem digitised, but it needs to tread with caution. WhatsApp furore and data privacy The entire WhatsApp saga has brought to the fore the importance of guidelines around data protection of users. Digital penetration is growing remarkably in the country, apparent from the fact that WhatsApp alone has over 400 million Indian users here. The debate around data privacy is raging and has brought to spotlight the need to implement the draft Personal Data Protection Bill 2019. In the European Union, WhatsApp update will not come into effect as it has safeguarded the interests of its people via General Data Protection Regulation (GDPR) and India needs to prevent data misuse by enacting similar laws. Data security is the right of every citizen and any breach puts their confidential personal information at risk. Awareness among Indians about data privacy and its protection is still very dismal, also something which people do not care about much.

CXO OUTLOOK February 2021

It is an undisputed fact that digital healthcare can bring down the cost of healthcare substantially and any effort towards that direction is futuristic

The debate around WhatsApp has made people take notice of it, something they until now attached very little importance too. With attention now growing around the topic, government will now have to be more stringent in protecting the data rights of its citizens.

Humungous data and healthcare When enormous amount of data is already being generated every day, then recording unstructured health information and organizing it to make healthcare delivery convenient will further add to the sea of data. In that scenario, the need to introduce a strong regulation such as GDPR becomes all the more essential. In the absence of proper regulations and a watchdog, critical health information of people would be at severe risk. In case of a data theft, citizens would have no place to raise the matter with and seek any recourse. A body that could deal with such matters is absolutely necessary when the country plans for such measures. The draft Bill mandates setting up of Data Protection Authority to look at any

CXO OUTLOOK February 2021

discrepancies and take required action against those messing with citizens’ personal data. The Bill was introduced in the Parliament in December 2019 and has been facing constant delays in tabling it. It is now due for tabling in the Budget session in February and given the WhatsApp furore, it seems it will be taken up for discussion this time around. The parliamentary panel examining it has recommended 89 amendments and 1 new clause and it is yet to be seen what concrete shape it will take when finalized. Nevertheless, it is a good start. Also, it is an undisputed fact that digital healthcare can bring down the cost of healthcare substantially and any effort towards that direction is futuristic. But we must also not lose sight of what can go wrong if vast amount critical data is not handled properly. The ideal thing to do is to work out the details of NDHM and the Data Authority alongside so that people could feel more confident about the government’s planned steps around digitising healthcare.

CXO OUTLOOK February 2021

STARTUP

SPOTLIGHT

R Proffering Affordable Fashion that Transcends Societal Hierarchy

Devoted to offer the best with an emphasis on client support and high quality for the end user, Fashionfore provides end-to-end solutions for the fashion and consumer industry.

CXO OUTLOOK February 2021

alph Lauren once said "Fashion is not necessarily about labels. It's not about brands. It's about something else that comes from within you." This creativity that comes from within is what powers that fashion industry. Native, culture-inspired fashion moves and unites people. Regrettably, fashion today in India is limited to big brand names that we can neither pronounce properly nor afford on a middle-class budget. But should fashion necessarily be this costly? Shouldn't true art be accessible to all to cherish and admire? Especially those of indigenous and local fashion designers, whose work is equally worthy of apparels from big names. But there exists no suitable avenue that could properly represent them, up till now. Come August 2020, a one-of-a-kind e-commerce platform that hosts young and upcoming apparel makers and sellers was born, helping display their works and gain a customer base from the deepest corners of the country. Fashionfore, a bootstrapped business founded by Kathiresan was set up with a dream to cater to affordable fashion to build a fashion-forward India. Based out of Bangalore, Karnataka, Fashionfore Services Private Limited, despite being launched amidst a pandemic, managed to achieve a viewership of 21 lakhs in its initial 4 months. Catering to the entire scope of fashion lifecycle, Fashionfore currently enjoys 60+ sellers and displays more than 20000+ products. "Be it a designer or an entrepreneur, who needs a platform to buy or sell products, we have it all. We are into branding as well, where we help companies to build and create an identity for their brands. We also provide app development or ERP solutions. We’ve all the solutions that the industry demands. We’re looking forward to onboard several leading and upcoming brands in the near future. In the next 2 years, we aim to

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Be it a designer or an entrepreneur, who needs a platform to buy or sell products, we have it all

CXO OUTLOOK February 2021

expand the domain and become one of the best e-commerce platforms on a global level. Our vast categories of products include apparels, bags and accessories, footwear, scarves, jewellery, home décor and other essential items. " says Kathiresan Director, Fashionfore. Having started as a one-person army, Kathiresan Initially planned to launch a mobile application to impart knowledge of end-to-end fashion to those who are interested in and are curious about the fashion world, where the enrolled students would be given certificates based on their assessments through the tests taken. However, the unexpected events that occurred due to COVID-19 drastically changed his plans, compelling him to create a one-of-akind, e-commerce platform that can help buyers, sellers, and the vendors to procure clothing and deliver clothes that the common people in the country would require with the best of costs, to any part of the country. Thus, Fashionfore came up with the ‘OneStop-To-Buy & One-Stop-to-Register’ process after analyzing the purchasing patterns of people to support the Indian sellers to build their business. Fashionfore is also part of a multiskill development program, an entity set up by institutes, establishments, and associations with the facilities for imparting basic training to apprentices (the National Apprenticeship Promotion Scheme (NAPS) which comes under the Apprenticeship Training Act 1961 by Govt. of India to promote apprenticeship training.) Fashionfore has also manufactured uniforms of the best quality and offered them at the best prices to skill India projects like DDU-GKY, PMKV, PMKK and UDAAN. It also enables State Skill India projects to purchase at its stores and have them delivered to their training centres. "I live the idea that risk-takers are the ones, who succeed. When compared to other businesses, clothing is a necessity and fashion is the desire to look and feel good, bringing about the best in you. I wanted to make a significant contribution to the society that I reside in with the support of my technical and educational background. Our first ever production unit started as Fashionfore won the tender to produce cloth bags worth 6.5 crores from the

CXO OUTLOOK January 2021

Government of Kerala. The production unit put together solely for bags further expanded to producing uniforms, t-shirts for export orders and our latest product, Zewn, 100% cotton premium quality formal shirts for men. The members of the production unit are mostly local people who had lost jobs due to COVID-19," says Kathiresan. Within a year, Fashionfore has grown to a group of more than 55+ employees, priding in growing together towards the company’s success by inclining towards quality

assurances and maintaining customer satisfaction and retention. The Fashionfore team comprises of fashion, accessory and graphics designers, sales & marketing personnel, human resources personnel, creative writers/ social media managers, web developer and several others. The production team comprises of supervisors, tailors and other help. Primarily focused on helping Indian sellers and conserving Indian tradition, The Fashionfore team

efficiently handles the process from finding the sellers to agreement preparation, product uploading and price comparison, leaving absolutely no scope for mistakes. To deal with the COVID-19 19 issues, Fashionfore partnered with various logistic allies. "At times when the shipment got delayed, we had to find other options to keep the customers and sellers satisfied. We believe that trust and customer satisfaction is the most important aspect of this business," he adds.

CXO OUTLOOK February 2021

Fashionfore has grown to a group of more than 55+ employees, priding in growing together towards the company’s success by inclining towards quality assurances and maintaining customer satisfaction and retention

Thanks to his massive experience in the textile industry, Kathiresan has gained vast experience in different fields such as manufacturing, procurement, export and import, national and international marketing, and several others. He is also well versed in government policies and manages planning and implementation of company strategies while ensuring sustainable growth in the economy. "As I progressed in my career, I incorporated the leadership tactics I had in me, including the way I resolved conflicts, how I communicate to my colleges and my high level of organization. These factors enabled my growth as an entrepreneur. I look up to Mr. Ratan Tata and Azim Premji as the initial stages of their growth and the tough judgments they had to make during their journey while working and growing has me a lot. Also, my friends and family have impacted my career significantly. They have been my mentor, always generously supporting me in every step," he mentions. Moving forward, Fashionfore aims to continue fulfilling all the requirements of the fashion industry by specializing in

CXO OUTLOOK February 2021

designing apparels such as menswear, womenswear and kids wear. The team is excited to launch a unique fashion show for the designers and partner sellers to exhibit their products. This live show is planned to go live in April and will invite all the fashion designers, aspirants and entrepreneurs. Kathiresan intends to introduce Fashionfore App on Android & IOS platforms, launch Fashionfore’s Women's western wear brandFADORE, Luxury Menswear brand- ZEWN, a Graphic T-shirt Collection, luxury leather & fashion accessories, publish Fashionfore’s fashion & lifestyle magazine and explore marketing strategies & Brand promotions in South India & Metropolitan cities- all within the next 6 months. “I aspire to make Fashionfore one of the topmost e-commerce platforms in the world providing end-to-end solutions to the expanding digital and fashion world. Our mission is to serve people with the right products at their doorstep and offering reasonable pricing with hassle-free user experience and fastest delivery options and support and provide all small businesses with the right platform to sell their products," he concludes.

CXO OUTLOOK February 2021

EXPERT OPINION

Is There Any Vaccine or Booster Dose to Real Estate Increasing Unsold Inventory?

Tushar Desai, Chief Technology Officer, Kagaay Technosolv Pvt Ltd.

Tushar has two decades of experience in

Information Technology and at Kagaay he has developed a completely digitised, transparent, Gamified Sales Platform for Real Estate Market.

U Tushar Desai

CXO OUTLOOK February 2021

nsold inventory in India is increasing every quarter. As per India Real Estate Market Update Q1 2020: Residential - Unsold inventory increased from 4.42 Lac units in Q4 2019 to 4.55 Lacs units in Q1 2020. Real Estate Developers have locked-in capital of an estimated INR 3.7 trillion as of March 2020 The two prime reasons for this situation are not alien to us. 1 – The Sluggish Sales Cycle in Real Estate which is anywhere between 1 Month to 6 months. 2 – Lack of eligible buyer from financials perspective The 3rd challenge which got introduced in late 2019 and is bound to stay for a while is COVID, lock down, social distancing which took the whole world by surprise that suddenly moving-out-of-home is considered to be the last option! The topmost challenge is Sluggish Sales Cycle - Anything which is Sluggish, needs Motivation, Reward, Recognitions. Today, customers are showing interest, conducting numerous site visits, negotiating for “Right” Price. The result of this is a sales cycle which goes up to 6 months for a successful transaction. To fast track this process “Gamification” of Sales is required. As Dr Lennart Nacke, Director of the HCI Games Group at the University of Waterloo’s Games Institute

Today there are many successful discovery platforms in the market who have made the Real Estate inventory information available to users

in Canada, explains gamification as “to engage people meaningfully with interactions that would otherwise be considered bland.” There are 4 main aspects to any gamified product: Recognition, Competitions, Leader boards, Visualisation. The first steps towards achieving Gamification in sales is to Digitize the experience. Today there are many successful discovery platforms in the market who have made the Real Estate inventory information available to users. Buyers are using them to discover the right property. However, the sales cycle starts after this. The need is to bring 100% digitisation From Discovery to Possession of Property. For example, during COVID period many big brands in Automobile brought their car showrooms to users’ personal devices like mobile, tablets and laptops. In 3 clicks luxury cars can be purchased. The question is, “Can Real Estate be sold online?” With digital India push from Govt. of India, soon this going to be new normal. Today technology is in place to Virtually visit the places sitting at our home. If we make right information available to buyer using Virtual Reality, Global Positioning Systems, Geo Tagging, 3D walkthroughs, Drone shoots etc the confidence of buyers will definitely increase in purchasing the real estate online. While it may not completely wipe out physical visits, it will definitely reduce the need. There are many other ways to engage buyers during sales – consider famous flash sales that happen from eCommerce giants like Amazon and Flipkarts of the world. They are so popular due to this fear of missing out. Same applies to Real Estate inventory too! Now while Gamification takes care of Sluggish Sales Cycle, how can one guarantee Financially Eligible buyers ? Luckily there are young fintech start-ups who have devised solution around it. Today with the help of Artificial Intelligence and Machine Learning , a user can be evaluated for loan eligibility digitally. The use of AIML technologies along with sales data from so many decades , it is possible to predict and commit assured sales. It is high time for realtors to realise that change is required in the way their products are marketed and sold.

CXO OUTLOOK February 2021

LEADER’S INSIGHTS

Market Trend Analysis: Advancements and Trends Under Telemedicine

Anmol Arora, CEO, DocVita

Anmol Arora is the CEO of DocVita, a

telemedicine platform on which patients can consult India’s leading doctors and specialists. He is an alumnus of IIT Indore and belonged to the class of 2016. During his third year at IIT Indore, Anmol founded Chota Hospital to empower doctors so they could deliver connected and intelligent patient care. At Chota Hospital, he helped pioneer new approaches to traditional problems in healthcare. He helped leverage the power of technology to deliver best-in-class Anmol Arora

convenience and user experience.

ccording to BCC Research, the global telemedicine market is expected to grow to $104 billion by 2024 from $43.2 billion in 2019 at an annual growth rate of 19.1%. Additionally, the telemedicine market's hardware segment might grow at a CAGR of 19.5% from $18.1 billion in 2019 to $44.1 billion by 2024. Telemedicine has revolutionised the healthcare system and transformed the role of physicians worldwide. With increased access to health services for patients, telemedicine has become the backbone of the healthcare system as it helps eliminate inefficiencies across the

CXO OUTLOOK February 2021

Telemedicine has revolutionised the healthcare system and transformed the role of physicians worldwide

supply chain, from care to cure. There now seems to be a trend of increased investments in the industry and a more significant number of health tech start-ups. We can attribute the growth of the telemedicine market to various factors. One of the primary drivers is the rising population and low doctor-patient ratio, especially in a developing country like India. Though telemedicine existed well before the pandemic, it wasn't as popular as it is now. Since the coronavirus outbreak, the sector has experienced unprecedented growth as the pandemic exposed the healthcare system's inefficiencies and its lack of preparedness to face a global health emergency. Further, with the shortage of medical devices, shortage of doctors and the growing prevalence of chronic diseases, we are hopeful of a brighter future of telehealth.

Telemedicine Helping Healthcare System in its Fight against the Pandemic COVID-19 has dramatically accelerated the use of telemedicine services primarily because telehealth reduces contact between healthcare workers and patients and between patients. Wearable devices facilitate care providers with real-time information on patient data while they remain at home due to which healthcare professionals can evaluate, diagnose and treat patients virtually. Numerous factors have contributed to the market's growth, such as an increase in digital health users, increasing acceptance of

CXO OUTLOOK February 2021

and various others are why health tech companies are tapping on AI to improve telehealth services.

Healthcare industry is one of a few sectors that have been slow in integrating technology into its clerical and operational procedures

m-health by healthcare institutions, increased legal health care costs, ease of access to healthcare, and increasing funding for telemedicine. Further, health tech companies are exceeding the expectations of care seekers the way integrating innovative features in the apps - location services, security, appointment management, medicine reminders, 24*7 availability of healthcare professionals, virtual care for deadly diseases, at-home testing samples and results, video/ audio communication, healthcare provider reviews, secure messaging, medical history, and wireless testing through wearable integration. From security to accessibility, these apps have everything sorted. Let's explore the trends that will continue to influence telemedicine: 1. Artificial Intelligence: Standard Of Care Healthtech start-ups are increasingly leveraging AIpowered technology to provide automated interactions with patients. When integrated with medical information like medications, symptoms, doctors, treatments, conditions, etc., these AI-based chatbots are a time saviour. Additionally, AI-based applications have the potential to improve the accuracy and speed of the diagnosis process. For example, An AI-based diagnostic device can help eye diagnosis by examining the retina pictures to check for possible deficiencies through an algorithm. These benefits

CXO OUTLOOK February 2021

2. Stringent Cyber Security Measures As telemedicine majorly relies on technology & data exchange, there is an increasing need for more stringent cybersecurity measures to ensure patient's information protection. We will see significant development in the way the telemedicine industry prioritises to protect patient's confidential information. Thus, system administrators need to strengthen their security, as massive costs are associated with data breaches. 3. Digital First Healthcare industry is one of a few sectors that have been slow in integrating technology into its clerical and operational procedures. However, the pandemic accelerated this switch. Though the transformation happened because of the situation's incapacity and uncertainty, it has increased awareness and demand for digital healthcare both by providers and seekers. Growing investments in telehealth, tremendous telemedicine benefits, and proven potential to revolutionise healthcare will pave the way for a connected & digitised healthcare system. 4. Augmented Reality and Virtual Reality Virtual visits driven by AR/VR technology have the potential to make access to healthcare more convenient than ever. From educating healthcare professionals to helping them plan medical procedures, advanced technology is commendable in improving healthcare delivery. Who would have thought that we could talk to a medical professional through our tablet, smartphone, or computer from the comfort of our home? Summing Up! Telemedicine enables remote communication with various options - wearable security devices using cloud-based technologies to monitor activity; connecting with physicians through online video conferencing for remote diagnosis, monitoring, and treatment; help keep critical patients safer in their home environments; mobile health apps for diabetes management, cardiac and ophthalmic monitoring and so on. Further, RPM technology comprises a wide range of wearable, clinical-grade, often AI-driven portable devices that help manage various health conditions in the home, such as hypertension, diabetes, and emphysema. With more people becoming aware of and demanding telehealth services, this industry's future looks bright as we foresee more technological advancements.

CXO OUTLOOK February 2021

STARTUP

SPOTLIGHT

2 Shaping the Way the World Learns

Co-Founded by Charu Noheria, Practically is an intelligent, interactive and immersive learning app for students of classes 6-12, focusing on STEM learning.

CXO OUTLOOK February 2021

020 might have been a tough year for startups across India, but it was the year of being at the right place at the right time for India's EdTech companies. With the coronavirus pandemic and the subsequent lockdown that saw schools and colleges close their doors, online learning emerged as the next big thing to watch-out-for. One of them is Practically. Founded in 2018 by Subbarao Siddabattula, Charu Noheria, Ilangovel Thulasimani, Practically uses next-generation interactive methods, such as Augmented Reality (AR), Simulations and 3D videos for an enhanced learning experience. Practically is built on Edgar Dale's Cone of Learning. "We retain 10% of what we read, 50% of what we see and hear, and increasingly more to 90% when we learn by doing. The more dramatic the experience, the more lasting the recall, and most concepts that are dry can be taught with experiential learning," says Charu Noheria, Co-Founder and COO, Practically. Bringing back joy into learning and using tech to create life-like experiences Practically uses AI to empower teachers. Practically helps teachers with intelligent insights into their student population, helps them auto-generate question papers, correct answers, give them 2 hours of operational time back, and impact their teaching experience, making classes engaging and effective. "Another problem we tried to solve for is to make everything that a learner needs available on a single app helping the parent pay for a single product with everything right from content, simulations/AR, test prep, analytics/ feedback, gamification, doubt resolution to live classes to coding, soon-to-be-launched summer programs, etc.", adds

Ch ar u

N oh

er ia

We all wanted to make some of those very dry subjects more interesting, engaging, and fun for learners around the world

CXO OUTLOOK February 2021

Looking to expand to other markets with a collective reach of 20M users by 2025, Practically is expected to hire thousands of employees across their teams

CXO OUTLOOK February 2021

An intelligent, interactive, and immersive learning app for students of classes 6-12 with a focus on STEM learning, Practically is the only experiential learning app that brings learning alive through immersive videos, interactive augmented reality, and 3D simulations. It offers an edge over other learning apps by enhancing conceptual understanding and improving retention of concepts with features like life-like video content, hands-on learning, experiential learning, 24x7 seek help with access to subject experts for doubt resolution, live classes, Proton - the AI assistant and study buddy and Coding++. 3,00,000+ students have already benefited from the engaging content on Practically. The App is the largest repository of augmented reality (AR), 3D videos, and simulations which can be experienced on the Practically app available to students to download for free on the Play Store and App Store. Taking the Lesser-known Route for Education Having done her schooling from Sacred Heart, Chandigarh and graduating from RV College of Engineering, Bangalore, Charu moved to the US in 2010 to pursue an MBA from the University of Illinois-Urbana Champaign, after which she moved to St. Louis, Missouri to work for Lumeris Inc., where she met the co-founders. "Being part of the competitive rat race for IITs in India back in the day, all I remembered from that experience was stress in learning. I dropped a year, switched five engineering streams, and changed three colleges during the 18 months. I struggled to get my footing right. Unconsciously this left a lasting mark on me, and I was always attracted towards

unconventional ways of learning which are different and more effective than rote learning", says Charu. Previously colleagues at Lumeris Inc. in the USA, Charu discussed the idea of Practically with her co-founders, Subbarao Siddabattula and Ilangovel Thulasimani, in those very hallways where they bounced off ideas to pursue. "We all wanted to make some of those very dry subjects more interesting, engaging, and fun for learners around the world", says Charu. Subba has more than 20+ years of industry experience in technology, operations, and management. He was the CTO of Lumeris before starting Practically. A product guy at heart, he is a visionary with tremendous zeal and passion for problemsolving using technology. Ilango is a hardcore techie and was VP, Enterprise Architecture at Lumeris before starting Practically. He loves to roll up his sleeves and get his hands dirty with code. He has worked with some big names in the industry, such as eBay, Quikr, etc. Ilango leads product development and technology at Practically. "Our Chief Strategy Officer, Bhanu Priya Vaddiparthi, has more than 12 years of experience in technology and operations and has worked in prestigious companies like Sandisk and Dell. She was part of the core team working closely with Michell Dell himself for Dell's pricing strategy. She has been instrumental in defining Practically's product and pricing strategy since its early days", points out Charu. Rising Above Despite all Odds Once Practically was officially started, the first couple of years cruised by, and they had a working product, angel investors, early customers, and revenue started trickling in. The challenges began when they wanted to grow the product to become a one-stop-solution rather than a point application so that learners won't have to pay for multiple apps, and they get everything they need on Practically. By

requiring substantial capital upfront to build unique life-like immersive and experiential content, Charu and the co-founders put in all the profits from the existing product sale and went in for their Series-A fundraise, which helped them achieve that. Charu adds, "We faced numerous challenges when we started scaling our business to all parts of the twin states of Andhra Pradesh /Telangana state as this needed a larger team and growth capital. We were lucky that we were able to raise our pre-Series B round just in time to help us scale and grow in this region and further set us up for a pan-India launch this year". Looking to expand to other markets with a collective reach of 20M users by 2025, Practically is expected to hire thousands of employees across their teams. By 2023, the company would have comfortably surpassed a unicorn status and will be well on its path to become a Decacorn. The product lineup will also see several additions to keep up with our growth plans. Starting with the K-5 segment this year Practically plans to enter segments such as engineering and medical labs, patient education in healthcare, etc., which is in line with our growth strategy. Setting their foot globally, Practically is already present in the UAE and looking to move to the US by the end of the year. Although the near-term plan is to expand into other Englishspeaking countries globally, the company is also exploring with partners in countries where there is a need for content in other languages as Practically's immersive animated video content can be easily localized. "The Practically School Solution, which is free of cost to schools, will be widely adopted as experiential and blended learning become the norm. Starting this year, Practically is going to be a household name among students and teachers alike. We expect to hire thousands of employees across our teams in various cities, aiming to be the most trusted and preferred EdTech brand globally", concludes Charu.

CXO OUTLOOK February 2021

LEADER’S INSIGHTS

Why the Digitization of Supply Chain is Mission Critical in Current Times?

Alok Sharma, CEO & Co-founder, NebulARC

As the CEO of NebulARC, Alok Sharma drives

the vision, strategy and growth of the company. He is a dynamic leader with over 25 years of extensive experience in leading Pre-Sales, Sales and Technology teams across Europe, APAC, and India. He is an exuberant thinker who is proficient in business strategies and planning. With NebulARC, he has committed himself to bringing real-time supply chain visibility and asset monitoring excellence in the market.

Alok Sharma

he impact of COVID-19 is being felt upon our day to day lives and businesses across the world. Since different regions are disconnected or discreetly connected for transport, there is immense unpredictability or radical changes in terms of supply chain management. This makes the businesses concerned about being able to meet their contractual obligations on time. The current situation highlights the important yet missing dots in the existing supply chains including the lack of real-time tracking, visibility, traceability, transparency, and lack of diversification- vulnerabilities.

CXO OUTLOOK February 2021

With the proliferation of connected devices, manufacturers can keep a tab of their entire supply chain in real-time, in collaboration with vendors and distributors

To address these challenges, the first step is to move away from traditional approaches to supply chain management and embrace digitization. There are several (read: almost all) functions of the supply chain that have ample scope for transformation through digitization. Be it creating cost sheets, vendor management, building supply chain disruption and backup scenarios, tracking of shipments and last-mile delivery, quality testing and pilferage control, etc., there is substantial proof of how digitization can bring a positive change to the supply chain. This change is not only important for current but also for post-COVID-19 times.

How digitization benefits supply chain ● Enhanced efficiency- Digitization helps in automation of critical yet iterative functions of supply chain management such as refill orders, invoice generation, and follow-ups, maintaining vendor/ client database, and so on. This helps in reallocating key resources to manage other aspects of the supply chain. As a result, efficiency grows manifold. ● Effective tracking- Technologies such as geo-fencing, geo-tagging, smart sensors, etc. play a key role in providing real-time tracking for in-transit shipments. This brings tremendous predictability throughout the chain as customers stay on top of the delivery schedule and plan their operations accordingly. ● Deeper collaboration- With the proliferation of connected devices, manufacturers can keep a tab of their entire supply chain in real-time,

CXO OUTLOOK February 2021

More about

Alok Sharma Alok believes that delivering a remarkable customer experience is key to achieving success. He, thus, drives the culture of customer-centricity across the organization which has led the team to deliver exceptional results.

Prior to co-founding NebulARC,

Alok worked across diverse industries in the global market and performed key roles in prestigious companies like Megasoft Consultants Ltd, Polaris Software Lab, Steria, IBS Software Services, Indus Towers Limited, and TEOCO. Alok holds a Master’s Degree in Technology from Birla Institute of Technology and Sciences, Pilani.

in collaboration with vendors and distributors. This collaboration also helps in understanding the key concerns throughout the chain and addressing them for further improvement. ● Predictive analysis for improved decision makingDigitization helps businesses generate, collate, and assess data from multiple points to understand how further improvements can be brought to the supply chain. The insights from this exercise will help in creating adaptable business processes that provide flexibility to handle varied demand situations and optimize the operational cost. However, each business needs to identify its own specific areas that need digitization on a priority basis. Once this identification is done, it is easy to put an extensive digitization strategy in place and roll out the change. Can there be some roadblocks towards the digitization of the supply chain? The start of digitizing the supply chain could have some upfront cost and time requirement. However, the midto-long term rewards make it worthy. Whilst finding the correct technologies and strategies is crucial to success, it is even more important to find the right team that can implement a crucial change seamlessly. The shift revolutionizes from the ground up. So, the employees need to be prepared for and on-board with a radical culture shift. Another important concern in the hyper-digitized world is cybersecurity. Taking action to protect the business and network from cyber threats should be an important priority when looking to innovate and introduce new technologies. The road ahead While the world will take some time to recover from the aftermath of COVID-19, few things will change forever (and for good). The phenomenon of supply chain digitization is one such thing. We can expect more businesses to understand the importance of creating an agile supply chain and operate with a lean approach in order to achieve sustained success. While we have already seen some positive momentum in this direction, as more businesses opt for a digitized supply chain, there will be ripple effects all around the world.

CXO OUTLOOK February 2021

EXPERT OPINION

Benefits of Implementing an Enterprise Mobility Solution Mahesh Alayil, COO and Co-Founder, Goavega Software Mahesh Alayil is a technologist who keeps

himself up to date with technology. He has 16 years of experience working in different MNCs before starting his venture in Goavega. He previously worked in NeST Software as Senior Software Engineer, in Nous Infosystems as Module Lead and in Symphony Services as Technical Architect. At Goavega, he takes care of delivery management, release management, training and skill development.

Mahesh Alayil

ith the COVID 19 pandemic and the emerging popularity of work from home (WFH) trend has given a boost and added new dimensions to the application of Enterprise mobility solutions. With increased dependency on remote working desktops and mobile apps, the increased risk of data breaches and transmission of confidential or sensitive data through a non-secure internet connection, among other factors, have forced organisations to take note and adopt new-age enterprise mobility solutions (EMS).

CXO OUTLOOK February 2021

Speed, agility, and customisation are some of the key features of EMS, and these go a long way in ensuring customer delight and loyalty

While Enterprise mobility has already been in use for a few years, its application has been mostly restricted to select set of employees who required to be travelling most of the time and thus needed a secure platform to work remotely. Further, the pandemic and the major switch to the WFH culture, coupled with the increasing rates of cyber-crimes and data breaches, have all increased the demand and need for innovation in Enterprise mobility platforms. However, there is a lot of adopting Enterprise mobility than just secure data exchange and safe remote working. The solution offers significant operational efficiency and can play a vital role in boosting productivity and performance, through:

1. Efficient and cost-effective operations: By creating an integrated and streamlined, single-window operational platform, enterprise mobility helps employees to have easy access to official data that can be obtained faster and through a safer interchange of information. It also improves the efficiency of the system due to on-the-go updates and work processes. It cuts down on the time as it lets the employees access vital data and cuts costs as storing and retrieval of the data becomes synced with total access control of the whole system. The speed and the efficacy further help reduce the strain on resources, making the entire process cost-effective. 2. Enhanced customer experience: Speed, agility, and customisation are some of the key features of EMS, and these go a long way in ensuring customer delight and loyalty. With prompt response to customer queries

CXO OUTLOOK February 2021

and providing seamless user experience on a variety of mobile devices, EMS also allows effective Order management, product tracking and delivery, swift payment confirmations, and on the go assistance, all of which helps in enhancing the end consumer experience.

3. Improved Data Security: One of the key aspects of EMS is secure data transfer – one of the vital needs of the digitally enabled businesses. From Mobile Device Management (MDM), identity and access management (IAM) to mobile application management (MAM), EMS offers business necessary data security and risk management layers, needed to provide enterprise-grade security solutions. Apart from keeping a check on unauthorised access by known or unknown devices, EMS system also helps devices and networks to steer clear of any malware applications. 4. Improved data collection and analytics: In an ear where data is the new currency, enabling secure data collection and analytics platform is of vital importance for every business to succeed. Well designed and modern EMS systems leverage the best of emerging technology like AI, IoT and ML, to build an integrated ecosystem to collect, store and analyse data. Information like consumer spending patterns, brand loyalty, preferred choices and various other insights can be obtained through consumer-facing (App based) EMS, which can be helpful in creating consumer engagement campaigns, while information regarding employee performance, login time and productivity hours etc., can help an organisation to understand and draft effective internal policies and HR driven engagement. 5. Improves productivity and teamwork/ collaboration: A customised EMS system can help design a seamless, integrated, and

CXO OUTLOOK February 2021

More about

Mahesh Alayil Mahesh Alayil has vast knowledge in MVC, MVVM Architectural patters using ASP.net NVC, WPF/Silverlight. He also has experience in SOA, SOAP/REST services using ASMX Web services, WCF and Web API. He has licenses and certification in MS: Programming in HTML5 with JavaScript and CSS3 and in MCPD: Web Developer. He also has expertise in mobile computing, social and cloud computing. He is passionate about technology and is never away from the keyboard.

unified virtual work ecosystem that allows for easy interaction between employees across the various sections of a company, while helping maintain security and accelerated information exchange. It also facilitates accurate, timely and transparent reporting from employees, which helps is smart data collection and analytics, which can further

Apart from being able to deliver effective and timely service, EMS also helps build customer delight through seamless and smart service execution, thus creating a long term association

help accelerate performance and productivity. From emails and access to intranet to updates on company policies, HR-related announcements, daily login's /attendance, productivity updates, announcements on departmental changes and also a single dashboard for team performances and updates, EMS can offer a transparent and responsive platform that enhances team

performances, irrespective of the physical location of team members. And all of this, accessible on a single click! 6. Customer Operation Speed: With easy access to teamwork and virtual collaborations, the time spent on physical internal meetings, approvals and presentation etc., is reduced drastically, helping speed up the operational process required to service a customer. With online approvals, presentations and discussions/ feedback, there is no time wasted on actual transit and long boardroom meetings that are generally interrupted or have several distractions. Apart from being able to deliver effective and timely service, EMS also helps build customer delight through seamless and smart service execution, thus creating a long term association. 7. Flexibility/Agility: This is one of the most valuable aspects of EMS and also a decisive factor for a brand's success in a competitive market environment. In the current situation of volatility and uncertainty, it is vital for businesses to be able to quickly adapt and alter so as to be able to cater to the changing needs of the consumers. And agility is the key to be able to do that. EMS offers speed, efficiency and the opportunity for businesses to customise and diversify at the same time, with a flexible approach to business processes and resource allocations, project delegation and execution, all of which can be aptly managed and achieved through a well-designed EMS. With Enterprise mobility giving businesses a chance to widen its reach and customers while creating a well-connected organisation that can work in tandem from different locations across the world, it is time that modern businesses realise the value of EMS and its role in ensuring quality assurance, growth, retention of employees and happy customers, during a crucial economic crisis. With more and more employees working from home or remotely, organisations need to prioritise developing EMS.

CXO OUTLOOK February 2021

LEADER’S INSIGHTS

Scenario of Electric Mobility in 2020 & The Expectations for the Coming Year Ankit Kumar, CEO, Gozero Mobility Ankit Kumar comes with diverse interests

as a technology enthusiast with multiple entrepreneurial ventures. Ankit’s core investments have primarily been in the EV and Drone space. The technology investor is currently the CEO GoZero Mobility & the Managing Partner at Alternative Global. Over the years he has also worked with different verticals across various geographies as a seasoned consulting professional with deep expertise in international corporate strategy, Ankit Kumar

joint ventures, Mergers & Acquisitions.

lectric mobility was introduced in India in 2011 and over the last decade has been able to carve a space for itself in the mobility market, inevitably increasing its relevance in the lives of Indians. In a market that has constantly prioritized mileage and upfront cost over all other factors, EVs were initially relegated to a very niche segment of the population. This was further exacerbated by the lack of charging infrastructure.

CXO OUTLOOK February 2021

In a market that has constantly prioritized mileage and upfront cost over all other factors, EVs were initially relegated to a very niche segment of the population

85 However, research in battery technology and increased availability of charging infrastructure (battery swapping or charging stations) have made electric mobility more compatible than before in everyday life. The space of electric mobility has seen the entry of a plethora of entrepreneurs, ranging from budding start-ups to decades-old conglomerates, where all have pitched in their two-cents on building the ecosystem of electric mobility in India. The segments that have grown in leaps and bounds are the two-wheeler and three-wheeler EVs. They have proven to be the most propitious segments in the urban regions and are expected to reach a count of 40 lakh units by 2025. The unfortunate situation of the ongoing Covid-19 pandemic has opened the eyes of people and increased their understanding of how they are contributing to vehicular emissions. This has induced a great interest in the EV industry. Compounding on this, the Indian government’s development of policies to support budding industries and businesses has brought about a great opportunity for the industry to have an escalated growth. The pandemic has also made people less apathetic about their health, and more people have taken to biking as a fitness activity to keep up their good health, physically and

CXO OUTLOOK February 2021

The pandemic has made people less apathetic about their health, and more people have taken to biking as a fitness activity to keep up their good health, physically and mentally

86 mentally. This has inevitably increased the demand for e-bikes as they offer the option for fitness while allowing to cover long distances with less effort. This combination of fun, fitness and utility in terms of intracity commuting has proven to be a hit amongst the masses. With metropolitans having tasted the breath of fresh air after decades due to the initial phases of the lockdown, a bright future has been sparked for electric mobility. Behind the scenes, the government is also hard at work to promote the EV industry through schemes to subsidize the cost of manufacturing electric vehicles and e-bikes, so as to increase their usage on the roads, and it would not take long before electric mobility proves itself to be a catalyst in surging the nation’s economy.

CXO OUTLOOK February 2021