A medical doctor by profession, Rajeena Shahin founded ‘Invest on Health’ to address the growing health concerns and offer TLC (Therapeutic Lifestyle Changes) as a means of keeping chronic diseases at bay. With a motto of ‘prevention is better than cure,’ IOH provides smart solutions to existing health issues and preventive measures against future problems.
Our team interviewed Rajeena to gather more information about Invest on Health’s operations.
1. Tell us about your background before Invest on health. Share with us briefly about your entrepreneurial journey and inception of Invest on health.
MBBS from T.D. Medical College Alleppey, Kerala
PGDBM, Bharatidasan University
I am a medical doctor, practiced in the beginning of my career for 2 years. And being a bit hyperactive, I can’t sit at one place for too long. Then I realised I need to find an exciting career, which gives me constant stimulation. In 2004-8, I got associated with clinical research and worked in the field as a project manager majorly focusing on weight loss trials. Entrepreneurship is full of excitements and challenges which keeps my brain occupied.
My entrepreneurial journey started in the beginning of 2008 with Ainsoft technologies (P) Limited. I started a Health Portal in the name of “Investonhealth.com”. The intention was to provide right awareness about health and diseases to the general public. We also tried to create a platform for connecting Doctors to Patients. I ran the venture for a year.
The next entrepreneurial stint was triggered by my search for a pre-school for my daughter. I observed that an exploratory learning tailored to the needs of each child was missing in the Preschool sector. Also, education, cognition, and neuroscience are topics that were always close to my heart. This led to the founding of Vivriti Edu (P) Limited in 2010, an educational venture to cater to early childhood education. In its 6 years of existence, Vivriti has become a popular pre-school of choice in the locality and has extended into after school enrichment programs, tuitions, field trips and summer camps. Vivriti employs around 20 people, most of them, women.
I’ve always been very passionate about preventive healthcare and believe that the future of medicine is preventive care. I founded “Invest on Health” (IOH Healthcare Services LLP) in January 2015 with an intention to create more efficient solutions to prevent & manage chronic health conditions. I believe that empowering people to take control of their own health is the foundation to achieve optimum health. As an entrepreneur and a clinician, I am excited about the potential of using technology to improve preventive care. In particular, advances in mobile technology present many opportunities for improving patient adherence and patient education. Currently, IOH is in the process of developing a solution that helps people achieve their optimum weight by allowing them to manage diet and physical activity. I am excited about the opportunity and waiting for the solution to hit the market.
2. What is Invest on health all about? Tell us in detail about the services offered?
We are developing solutions for people to follow Therapeutic Lifestyle Changes to manage chronic health conditions like obesity, Diabetes, HTN, PCOS etc. By solutions, we mean “a holistic approach to manage the condition” which includes, apps/web applications, coaching & mentoring by our system to achieve a specific goal and later online consultations with doctors and experts.
IOH is a system which facilitates people to “Invest into their health” to achieve and maintain/enjoy optimum health.
The system has 4 components. These are:-
1. System facilitates users to follow a healthy lifestyle (diet, exercise etc.)
2. To maintain their current health
3. Bettering their current health: weight loss, weight gain, etc.
4. Managing their current illness (chronic conditions)
System also facilitates the users to empower themselves to take decisions on health aspect
1. By providing coaching mentoring
2. By providing access to right information
3. Online education from our health & Wellness experts
We would like to add few other features like an interaction platform for doctors, patients and other experts at a later stage.
3. What is your competition in the market? What is it that sets you apart from your competition?
Many competitors from Healthify-me, Fit-Bit, VLCC, etc. in our weight-loss space. But there are not many players in chronic conditions management space.
I believe that Our portion sizing App to match the fitness goals, and the solutions delivery model will set us apart from the competitors in weightloss sector too
4. What is the business model of Invest on health? Can you briefly summarise the growth achieved in both volume and value from the day 1 till now?
Our business model is based on the subscription model of TLC (therapeutic lifestyle changes, includes diet and exercise, habits, sleep patterns etc.). The basic concept is taken from the fact that ‘80% of chronic diseases can be managed by TLC, the other 20% which requires medication also require TLC (Complimentary).’ The subscription model depends on the services subscribed by our users. The app as such is not yet out in the market. Though we are using it for our walk-in customers. We are expecting a user base of around 10000 by the beginning of 2017.
5. How has been your beginner’s journey? What were the challenges you faced in setting up and scaling up your enterprise? Any hurdle that you faced or are still facing?
This is my second venture and hence many of the regular challenges of an entrepreneur were known to me.
Yet, there were many new challenges with regard to a technology start-up. The major challenge was getting the right talent. We still face issues with hiring the right talent. Since it is a bootstrap company, we are not able to pay fat packages like MNCs. But talent and the right attitude is something which we always look for.
Another challenge will be setting our product/solutions apart from the 101 app competitors in the market. We have planned few strategies which we think would help us. We do have few experts helping us in this arena to tackle the hurdles from ‘ensuring a non-stop internet connectivity to getting a preferred name for the legal entity.’
6. Can you tell us about your other founders/core team, their background and rich experience?
My husband Shahin Basheer is the mentor/co-founder. He has >18 years experience in the industry in software. His day to day involvement in the development is very limited at this stage though. Hope situations will change once he joins me for good. I do have few consultants helping me achieve my goals. They will join me shortly in my journey. They are with 13-18 years experience in IT field. And I have a team of 4 young engineers working with me currently. We also have collaborated with few firms and outsourced works which are not our area of expertise.
7. How is Invest on Health funded? Any early stage money/seed stage experience that you would like to share with us?
It is a bootstrap company. Self-funded.
8. Any other areas or initiatives that you plan to venture into in the future?
I would like to focus on this right now and make it successful.
9. What will Invest on Health look like in 10 years from now? All perspectives – people, business, revenue, team, size or anything you foresee for the venture.
I envision the following in the next 5 years:
-At least 1/4th of internet users in the world will have a health profile on IOH. This could be for maintaining their current health, lifestyle etc. or managing their health condition, tracking their progress or even taking help on a day to day decisions about their lifestyle.
5 years from now
Business: around 300 million USD market valuation
Revenue: 300- 500 million USD Revenue annually
Operating in 30 countries
Team: Multiple teams managing each sub-domain area. I am keen on hiring high talent who can really deliver extraordinary solutions to the masses.
Around 20K employees in different areas
20 k – 30 k doctors/other experts on the consultancy panel.
10. Any school/ campus-connect initiatives that you are pursuing or plan to pursue?
Yes. We’ve already started contacting Mount Carmel for hiring graduates in nutrition plan, MIT for developer recruitment and connecting with clinicians using different platforms.
11. Any experience or advice you would like to share with soon to be start-up founders out there?
Follow your passion. Do not follow the crowd. Follow your heart, follow your passion, create something meaningful for the world- the crowd will follow you.
We wish Rajeena all the best in her noble enterprise to build a healthy community and hope that her ideologies can reach the masses. This way, we can have a content and healthy society!