Established in 2022, 2070 Health is a venture studio that finds healthcare opportunities and problems, develops solutions with founders, launches new companies, and provides substantial operational and strategic support until product-market fit.
Healthcare has evolved dramatically due to technology. Electronic pharmacy and phone or app-based consultations are now common.
Technology has improved pain management, pediatrics, and oncology, but gaps remain.
In 2022, Dr. Pankaj Jethwani (CEO) and Sunil Wadhwani (Chairman) founded a venture studio to establish new healthtech enterprises. In June, healthcare-focused VC fund W Health Venture invested $30 million in it.
Dr. Pankaj states that 2070 Health takes a bottom-up strategy to creating innovative healthcare ventures. After conducting research, the firm seeks a founder to implement the idea.
“Depending on what core skill set we need, we have a persona, and then our talent team targets seasoned professionals from our networks who are looking to start their entrepreneur stint,” he says.
Find the next healthtech breakthrough.
Pankaj claims that there is no healthtech solution as widespread as Ola, Swiggy, or Flipkart in Indian consumer tech. This is 2070 Health’s chance.
The Studio builds healthcare firms focused on patient outcomes rather consumer healthtech. Current and future incubations include Care Delivery Innovation, Enablers, and B2B SaaS.
Healthtech, Setting up a venture studio
The studio divides company creation into Ideation, Team building, Launch, and Scale.
“The goal is to deploy capital once an idea is deeply validated and a stellar founding team is in place, and de-risk execution by supporting founders in the riskiest early days of venture building,” adds Pankaj.
Its venture studio comprises teams that examine healthcare issues and emerging segments and build commercially viable business solutions.
The studio team searches for unsolved Indian healthcare issues. The venture studio has incubated chronic pain, obesity, and healthcare technology and engineering firms.
Elevate Now, Nivaan, and Reveal Healthtech are its three incubated firms.
We are working on Pediatrics for the 4th studio firm. In addition, Pankaj says we are in the early stages of clinical trial, oncology, and urology research.
Pankaj explains their issue statement identification process: “We build in a space only after we get data-backed answers after hundreds of hours of stakeholder conversations and experiments. With conviction, we kill 90% of ideas. Stage-gating the venture building process reduces startup failure rates.”
“Every company needs different capital based on its business model and runway to prove Product Market Fit. Dr. Pankaj says we’ve invested $1–3 million in each incubator.
He continues, “The startups we build at 2070 Health will be either Indian startups building in India for India (like Elevate Now and Nivaan Care) or Indian startups building for the world (like Reveal healthtech).
2070 invests $1–1.5 million in incubation. It anticipates the investment to last 12 months, depending on the business strategy, fixed costs, and operational burn of each company. These companies will receive $1–1.5 million for follow-ups.
Upside from owning incubated firms gives the studio a lot of value.
“Exit through secondary sale, strategic stake sale or IPO in 5-7 years will realize the upside,” he argues.
Conclusion:-
Established in 2022, 2070 Health is a venture studio that finds healthcare opportunities and problems, develops solutions with founders, launches new companies, and provides substantial operational and strategic support until product-market fit. In June, healthcare-focused VC fund W Health Venture invested $30 million in the company. Dr. Pankaj Jethwani (CEO) and Sunil Wadhwani (Chairman) construct innovative healthcare initiatives from start, concentrating on patient outcomes rather than consumer healthtech companies.
The studio’s company creation process includes ideation, team building, launch, and scale. After a strong idea and a great founding team are in place, deploy funds and support founders in the riskiest early days of venture building.
Elevate Now, Nivaan, and Reveal Healthtech are 2070 Health’s three incubated firms. The 4th studio company is researching clinical trials, oncology, and urology, and pediatrics is their next focus.
The studio invests $1 million to $1.5 million in incubation and $1 million to $1.5 million in follow-on commitments. At exit through secondary sale, strategic stake sale, or IPO in 5-7 years, the studio will enjoy the upside from its ownership in the companies it has incubated.
