-Shashank Moddhia, Founder & CEO, The Renal Project
Team 100X.VC interviewed the Founders of their Portfolio Companies about their Start-up journey; from idea, execution to overcoming challenges. Here, Shashank Moddhia, Founder, The Renal Project shares his responses.
Q1. How did the idea of The Renal Project come up?
Through corporate experience, I identified a critical gap in availability of kidney care in India as compared to other countries.
Q2. What made you start working on The Renal Project and executing this idea?
With 12 years work experience in healthcare and specialty in Kidney care, as a biomedical engineer I was in a very good position to quit corporate job, and rather solve a staring healthcare gap in India.
Q3. When did you realize the need to raise Venture Capital - Seed funding?
Kidney care and lack of dialysis therapy is a global problem and not a local issue by any means. Hence, the product and services of The Renal Project needed "scale" to reach the market size and geography. This is when external investment and strategic partnerships was seen essential.
Q4. How has 100X helped you at the beginning of your journey?
Being in healthcare delivery, a brick and mortar space, the founders as well as the investors need a strong conviction with the idea. It is an execution play with many moving parts such as infrastructure, partnerships, supply chain and government policies. 100X took this bet on us with its first check which gave us a god sent chance to prove our sustainable model and the capability of the founders.
Q5. Has your startup pivoted? If so, What has the pivot been?
Yes. one 3-bed dialysis micro-center with at least 25% EBIDTA and sustainability within 24 months.
Q6. What challenges did you face & how did you overcome them?
Cash Flow, Standardization, Patient care, Training programs of staff, Emergency cases preparedness
Q7. What stage is The Renal Project at present?
We are currently already in growth phase with presence over western India.
Q8. As founders, what are your goals for the next 1-2 years?
To grow The Renal Project from Western India to at least 10 states in India
Q9. What keeps you motivated & keeps you going?
We are a "Why" company, not a "What" company. The sense of purpose, and achieving it every single day, each patient at a time keep us motivated day and night.
Q10. Your message for Startup founders building in this sector?
Healthcare delivery is a difficult space due to factors such as low national budget on healthcare, paying capacity, language barrier and health awareness of clientele. But immense success awaits if you have Technology, Perseverance and Sense of Purpose with you.
About Shashank Moddhia:
Shashank is an Entrepreneur with over 15 years of multinational work experience in field of medical devices. He founded The Renal Project company with mission to provide life sustaining therapy of kidney dialysis with high standards of quality, compassion and value for human life. To the population, without access to one in a vast country like India. He was also featured on Shark Tank India Season 1, BBC Marathi, Door Darshan, The Better India amongst other platforms.