CONCEPTION
Providing Medical Imaging Solutions
Dr. Ashish Dhawad equipped with the knowledge of biology, informatics, and genetics, decided to develop and enhance healthcare. Along with Dr. Prashant Lahane, this idea evolved into the formation of Medsynaptic Pvt. ltd.
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The company has a complete suite of ‘end to end’ medical imaging solutions. Stand alone products like SonoDoc & ScopyDoc for Ultrasound Image Management and Endoscopy Image Management, ScanDoc Workstation for multiple modalities. It pioneers the development in low bandwidth Teleradiology in India wherein the user can download large volumes of data in seconds.
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THE MODEL
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MEDSYNAPTIC
FROM SEED FUND TO FUNDING
The initial amount invested was ` 1 lakh, which broke-even in the second year of operation. Till date, the entire venture has been funded by internal accruals and most of the profits have been ploughed back into the business, making it a proud debt-free organisation.
SUCCESS STRATEGY
SNAPSHOT
Cost cutting, forecasting, patient data search and management
GROWTH & EXPANSION Founder: Dr. Ashish Dhawad & Dr. Prashant Lahane India being the primary target, the company plans to go global Age: both 36, Year of Inception: 2004 soon, with the current focus being Middle East, South East Asia City: Pune, Number of Employees: >90 and Africa. Its foothold in USA is to materialise soon, with the Awards/Recognitions: NASSCOM Emerge 50 Company company’s products approved by USA FDA. and Red Herring Asia Top 100 Start-up
NEVER GROW UP
CONCEPTION The inspiration for this venture came from Asif Upadhye’s experiences in the corporate front. J
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Building Employee Productivity
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‘Never Grow Up’ is a business enterprise into the field of employee engagement by partnering with and consulting HR Managers and CEOs. It offers fun workshops, besides addressing internal communication needs, developing quirky merchandise, building reward programs and even helping people redesign their cubicles/offices.
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THE MODEL
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FROM SEED FUND TO FUNDING
The initial seed capital was ` 9 lakh. The company has achieved a break-even within 1.3 years of its launch and has already crossed the turnover from last year (FY 10-11) in the first two quarters of FY 11-12. The founder has invested his personal savings.
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GROWTH & EXPANSION This business has witnessed over 70 per cent growth in the last one year. In the next three years, its founder intends to scale his business and increase the sources of revenue by developing alternate channels. 60
SMALL MEDIUM ENTREPRENEUR | JANUARY 2012
SNAPSHOT Founder: Asif Upadhye Age: 31 Year of Inception: 2010 City: Mumbai Number of Employees: 5