[0:19]So welcome to the course healthcare entrepreneurship. If you are interested to become an entrepreneur in the healthcare space, then this is a very, very exciting course and the first of its kind offered in the Indian subcontinent. So, uh, myself, I'm Dr. Arnab Chanda, I'm a joint faculty with the Center for Biomedical Engineering at IIT Delhi, and also with the Department of Biomedical Engineering at AIMS Delhi. So welcome to this course, let us get started. Okay, so first of all, I would like to talk a little bit about the contents of this course and what you can expect.
[1:05]So this course aims to train students on conception, development, launching of healthcare engineering products which are critical for India. The students will study healthcare challenges, and understand customer requirements, market need and competition, which will help develop product ideas suitable for the Indian market. The various steps of the healthcare product development process, including specifications, tools for design and analysis, creation of minimum viable product (MVP), prototyping, manufacturing, and functionalization using electronics and robotics will be covered in depth. So I've already introduced myself, I'm Professor Arnab Chanda, and I'm also a founder of a company known as Biofit Technologies LLC. This is based out of US. So I have a lot of startup experience with, uh, you know, several products like in the healthcare domain, so this is what I bring to the table. So let's go further in the contents. So also we will cover healthcare product testing through usability tests, simulated test marketing, beta testing, and clinical testing will be discussed along with presentation of the ethical considerations, regulations, and standards.
[2:47]Product branding, pricing, positioning, sales and distribution, and launching healthcare startups will be presented. The course objectives are in line with the Make in India and Start-up India initiatives by GOI. So, uh, we will talk, uh, also about several management concepts such as product branding. So now that you have this great technology or the product, how do you brand this? How do you price this right? And how do you position this right in the market? What is the sales and distribution strategy? And how do you make sure that you can get the suitable or necessary set of customers to actually buy your products, right? So that is called as customer acquisition. This will be studied with live examples, and we will also have several case studies to really get a hands-on on, uh, how to implement this process while you have a product to take it to the market. So the next step is key commercialization strategies, so whenever we talk about commercialization, it's actually from lab to market kind of transition. Uh, including development of a robust business plan, so there needs to be a very nice business plan in place. This is, uh, this will also be part of this course, how do you fund raise? How do you get enough amount of seed funding to make sure your product can reach to the market? Intellectual property, how do you make sure that nobody is able to steal your idea or copy your idea? So that is where intellectual property filing comes into place, creating barriers to entry. Barriers to entry basically means like others should not be able to quickly make your product and sell beforehand before you could go out in the market. So creating barriers to entry and launching healthcare startups. How do you finally launch a healthcare startup with your great innovative product idea? So the course objectives are completely in line with the Make in India and Start-up India initiatives by the Government of India. So we are very excited to bring this new course to the table and hopefully you will enjoy it, right? So, let's talk a little bit more into the course outline, what are the key modules and what can we expect out of the different lectures which will be taught as part of this course. Uh, so module one would be basically an introduction to major healthcare problems and challenges in India, healthcare startup ecosystem in India. This is a first-hand perspective of what India is going through from a healthcare transformation standpoint, like what are the key problems, challenges, unmet need, right? Healthcare startup ecosystem in India. So we have this challenges and problems existing. What is the healthcare startup ecosystem currently doing? Which are the gaps, so that we can possibly fill those gaps with our ideas and product conversions. Idea generation and need analysis, once we understand the Indian scenario, what is the startup, uh, condition in India? We look at how do we generate the right idea and define the right need in a sense that this could be useful for a customer, right? We also look at the sources, evaluate ideas. So this is the first set of, uh, you know, topics which will be taught as a part of this course. Uh, the second set is effective customer survey, or sometimes we call this as customer discovery. So, uh, what this specifically means, means is we want to make sure that you have this great product but it is sellable and there is a demand in the market. So effective customer survey or a discovery, uh, set of is a set of processes which will be taught through this course, which will make sure you're able to clearly define the value which your product will transfer to the customer, right? So that is called as customer acquisition. We also look at the sources, evaluate ideas. So this is the first set of, uh, you know, topics which will be taught as a part of this course. Uh, the second set is effective customer survey, or sometimes we call this as customer discovery. So, uh, what this specifically means, means is we want to make sure that you have this great product but it is sellable and there is a demand in the market. So effective customer survey or a discovery, uh, set of is a set of processes which will be taught through this course, which will make sure you're able to clearly define the value which your product will transfer to the customer, right? How to understand the market competition? So there are so many competing products and brands in the market, in the healthcare space, like so specifically, how do we understand this competition and plan our customer survey or market understanding around this? So this will include the analysis of the novelty, need, barrier to entry, cost and resources, what are needed. And finally through this customer discovery and market competition analysis, we will be able to define the healthcare product features. So whichever healthcare product or service in this case you're trying to provide or trying to develop, we will understand what should be the key features in that from a tech and non-tech perspective both. Then the next step or the next module basically let's you start on your product design. So now your idea is very clear, you have defined the product features, you start with your product design process. This is key seven stages which takes you from the design to development, this would be taught in detail. We will also be talking about visual design elements, such as branding elements. So it's not always the technical aspect of a product, sometimes it's very, very important how does it visually look or how easy is it to use, right? So visual design elements and branding elements would be looked into what are the key tools for design of products and services. So let's say you are a healthcare professional or somebody who has never really got an experience with designing products, so what are the key tools and services out there where you can quickly design a product? UX and UI design that's this is a little bit different from technical design. This is user experience and user interface design. This becomes real important how somebody takes the first look at your particular product or service, right? So this will also be taught in detail. Then we will be talking about quality engineering and iterative design optimization. So basically any of the product in the healthcare space, which you're going to bring to the customers has to go through several stages of iteration. It cannot be like today I make the design and tomorrow I have the product, it is never like that. It goes through a several rounds of iteration, which is based on feedbacks which we get from the customers and, uh, you know, design changes which are recommended by several customers and stakeholders. So based on that, we take that product through the steps of quality engineering and a iterative design optimization. And finally when we think that the design is almost finalized, we have to start thinking for design for manufacturing. What does design for manufacturing actually mean? So we are trying to develop a product not for one or ten customers. We are trying to have a massive scale, we're looking at hundreds to thousands of customers. So how do we scale that product to that extent that we can manufacture it in a very mass scale, right? So this is another skill set we'll try to understand. Next is, what is a minimum viable product? So before you actually start developing your product full-blown, you want to understand what the customer or the market sentiments are. This is where the minimum viable product or an MVP comes into place, where we can have some minimal design or minimal product kind of outline which we can showcase to potential customers and get a feedback. And based on this, we can get a very useful or valuable design. So what are the types of MVPs? How do you develop a prototype from an MVP? What are the key manufacturing techniques? So we would also get a little bit of knowledge about the several manufacturing techniques such as additive manufacturing, which is commonly known as 3D printing. Subtractive manufacturing, where you're taking out material from a system, biochemical, multi-scale, and different kinds of manufacturing techniques, we will learn, right? We also need to be very clear about the kind of material or the set of materials your product will have. So material selection for healthcare product prototyping, this is also very important. You have to also keep in mind the manufacturing aspect, it's not only prototyping while we do this stage. Then finally we look at prototype functionalization using electronics and instrumentation. Are there certain sensors or electronic output sensors or electronic equipments which goes into your product? So several of the products, like for example, a diagnostic device, would have several electronic components. So how do we functionalize that, right? So as we go through this lessons and topics, what we really learn as a summary is we are we have targeted the key healthcare problems. We have a very detailed understanding of what the healthcare problems are currently in specific in in India. And based on this, we generate the ideas, the right ideas, uh, specifically product ideas. Uh, how we can, uh, basically meet this gap and, uh, solve this problem, and the stakeholders or this, uh, important pieces of this, uh, ideas are the market and the customers. So what is the market saying? Is the market ready for it or has a similar product? And what are the customers saying? This becomes really, really important at this stage of understanding the healthcare problems. Next comes, once we have defined the problem and as we have just spoken about defining the product features, we get to the product development phase. Which is several stages such as design, prototyping, product testing, and also meeting the particular standards. They could be healthcare standards or product manufacturing standards or certain design standards which have to be followed, right? And all of this aspects, while when we put them together, finally leads to something known as customer acceptance. So we go through all these processes to finally get a customer acceptance because unless and until somebody really pays for our product, that product is of no use to the market, right? So after the healthcare problems, we finally complete the product development phase. Then finally we get to the commercialization of the startup phase, which is a lot of sales and marketing components. We have branding component, you have to look at the IP or the intellectual property rights. You have to also look at how to form a company and how to make the right company with the right modalities, right? And finally what the startup is looking for is profit. Right? So this is the summary of things on the right side, what we are trying to really achieve through this course. And I'm going to take you through a few more lessons and topics in the next page. All right. So we are also going to talk about the usability testing, the various testing standards which we are talking at the under the product development, uh, you know, bubble. Uh, we would be looking at simulated test marketing, beta testing, material testing and characterization, ethics. Ethical considerations, so whenever you have invasive devices or something which is in touch with the human body, we need ethical considerations. Which are taken care through an ethical clearance through a hospital or, uh, you know, legal entity. Testing on animal models and human subjects. Some of these devices and products, you would like it to be tested on animal models, if they're in certain cases invasive where you cannot really place it on a human body. And in certain cases if it's a wearable kind of device, you would like it to be tested on human subjects, right? Clinical testing. So there are so many, uh, areas of clinical testing and like steps of it. We are already aware of the, uh, different clinical standards, which are followed across the industry, very, very stringent, and we have to maintain the regulations and standards from the ISO standpoint as well. So we'll get an in-depth knowledge about all this testing modalities and the, uh, formats which have to be followed while building your product. Next is, from a marketing or a, uh, management standpoint, we'll have to look at how do we brand this product right? How do we make sure somebody understands what this product is without thinking too much about it or asking too many questions, like that's the brand value, right? Customer brand knowledge, how do we generate that? How do we price this product right? So India, as we all know, is a very, very price-sensitive market, so we'll have to also look at the same aspect while delivering a healthcare product. How do we segment the market? How do we decide the right target customer?
