5. Tackling India’s Covid-19 testing problem with Avani Singh, Founder of SpiceHealth
Description
India's healthcare sector was worth about 160 billion U.S. dollars in 2017 and it is estimated to double to around 372 billion dollars by 2022. The country's healthcare market has become one of the largest sectors in terms of revenue and employment and the industry is growing at a rapid pace. India has a universal multi-payer health care model that is paid for by a combination of public and private health insurance alongside tax-funded public hospitals. However, healthcare spends per capita in India remains one of the lowest in the world making it one of the great long-term growth opportunities for the country’s budding entrepreneurs.
In today’s episode, Ben Hayward is joined by Avani Singh, CEO of SpiceHealth and the daughter of Ajay Singh, Founder of one of India’s largest low-cost airlines, SpiceJet. At just 24 years of age, Avani quit her job at McKinsey to launch SpiceHealth in November 2020 amid the ongoing coronavirus pandemic. Concerned with the high cost of virus detection, Avani and the SpiceHealth team launched the business to offer disruptively low price and accessible COVID-19 testing and has so far conducted over a million tests as of August 2021 - making them one of the fastest-growing diagnostics company in India. Avani’s fascinating story embodies modern India - as this young female entrepreneur is striving to improve the life and health of millions of people one test at a time.
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