☑️ Pragmatech’s CERVICHECK

Plus: Charlie Munger’s Iron Prescription 💪🏻 ; India’s Top Tech Startups Burned Billions ❤️‍🔥

Author

Chai Sip
April 12, 2023

ISSUE #049

☕ Good Morning! Sippers,

👩‍🔬 Meet Anirban Palit, former Roche Diagnostics zonal head, who got the opportunity to explore the world of diagnostics up close while working with a global pharmaceutical company.

Anirban saw the new diagnostic systems entering the Indian market and the impact they could create on public health.

In today’s Issue 📬 :

  • Pragmatech’s CERVICHECK ✔️

  • Charlie Munger’s Iron Prescription 💪🏻

  • India’s Top Tech Startups Burned Billions ❤️‍🔥

SIP WORTHY

Pragmatech’s CERVICHECK: Empowering Women’s Health, One Self-Sample at a Time

🩺 While handling the human papillomavirus (HPV) portfolio at Roche, Anirban came across the story of a 45-year-old domestic worker who lost her life to cervical cancer, leaving behind two small children. This event turned out to be the catalyst for the start of a brand new chapter in Anirban’s life.

🌍 Although there are HPV tests available in the market, adoption, and access to such tests are minimal in countries like India. Anirban noticed that women in India tend to be hesitant to get tested. Gynecologists usually conduct cervical cancer sampling through the Papanicolaou test or the pap test where samples from the cervix are collected through a pelvic examination, which can be distressing and uncomfortable.

🏥 In response to these challenges, Anirban set out to bridge the gap with a unique kit that makes sampling accessible and enables point-of-care screening. Pragmatech Healthcare Solutions was formed in 2019 with a focus on developing cost-effective products that enable increased access and adoption of healthcare technologies.

📝 Their first product line, CERVICHECK, is a self-sampling and screening kit that can be used by women directly. The team is currently developing the cervical screening kit, a point-of-care solution that can provide accurate results of whether the woman is at risk of developing cervical cancer.

💊 Like most startups launching a new product, Pragmatech had to pass through regulatory pathways that have been well-defined by the Central Drugs Standard Control Organisation (CDSCO).

Currently, Pragmatech is gearing up to take its CERVICHECK sampling kit to the market.

📈 With their self-sampling kit, they aim to target the urban and rural markets and are in talks with lab owners. Alongside this, they are also planning to talk to organizations that conduct health camps in cities. Pragmatech is still working on its screening kits and plans to take them to the rural population through government screening camps and replace VIA with a more reliable tool.

👩‍⚕️ Anirban also wants to eventually combine their CERVICHECK self-sampling kit along with the screening solution as a package for the market. At a later stage, they are also looking at offering the kit to other countries facing similar healthcare challenges.

IMPROVEMENT SIP

Charlie Munger’s Iron Prescription: How to Avoid the Ideology Trap and Make Better Decisions!

Charlie Munger, the vice-chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, is widely respected for his investment acumen and sound advice. In particular, his thoughts on avoiding intense ideology and unclear thinking offer valuable lessons for anyone seeking to become a better decision-maker.

Munger suggests having an “iron prescription” to keep oneself sane when preferring one intense ideology over another. He believes that people are not entitled to have an opinion unless they can state the arguments against their position better than those who oppose them. Only when they have reached this state of understanding are they qualified to speak on the matter.

This idea is supported by various case studies, such as that of Ray Dalio, the founder of Bridgewater Associates, one of the world’s largest hedge funds. Dalio has written extensively on the importance of avoiding ideological biases and developing a culture of radical transparency within his organization.

As Munger notes, avoiding extreme ideology is essential to becoming wise. In a world where polarized opinions dominate, it’s easy to fall victim to the trap of intense ideology and unclear thinking. However, by staying open-minded and seeking out opposing viewpoints, we can become better decision-makers and avoid the pitfalls of narrow-mindedness.

As Munger once said, “I think part of the popularity of Berkshire Hathaway is that we look like people who have found a trick. It’s not brilliance. It’s just avoiding stupidity.” By avoiding the trap of intense ideology and unclear thinking, we can become better decision-makers and avoid costly mistakes.

HOT SIP

India’s Top Tech Startups Burned Billions in Cash in FY22 for Rapid Expansion

What’s sipping? ☕ According to a recent study by VCCircle, India’s top technology startups raised billions of dollars from alternative investment firms in the year through March 2022 for rapid expansion.

The study captured the financials of the 50 most-funded tech and tech-oriented ventures in this third part of a running series. However, it excludes large startups such as Byju’s, which are still to file their financials for FY22 with the Registrar of Companies.

💰 Fintech and Edtech Startups, Food and Grocery Delivery Companies Burn the Most Cash

The study showed that food and grocery delivery companies, as well as fintech and edtech startups, burned the most cash in FY22. These startups more than doubled their cash burn in FY22 to ₹30,304 crores (about $5 billion at the prevailing exchange rates) from ₹14,386 crores the year before.

🚀 Rapid Expansion in FY22

India’s top technology startups have been aggressively expanding their businesses in FY22, with a focus on capturing market share and scaling up their operations. This has led to a surge in cash burn, as these startups invest heavily in marketing, customer acquisition, and product development.

📈 Growth Potential for India’s Tech Startup Ecosystem

Despite the high cash burn rates, investors remain bullish on India’s tech startup ecosystem, which has shown tremendous growth potential in recent years.

With a large and rapidly growing market, as well as a talented pool of entrepreneurs and engineers, India’s tech startup ecosystem is poised for continued growth and innovation in the years ahead.

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