Funding, regulatory process haunts life sciences and healthcare startups: EY
Lack of sufficient funding was evident from the fact that 43 per cent respondents bootstrapped their startups while 42 per cent leveraged government incubators for funding.
- Much like in other markets, startups in life sciences and healthcare have been facing challenges around funding and regulatory processes.
- Out of 60 life sciences and healthcare startups surveyed by professional services firm EY, around 57 per cent (34 startups) have claimed a lack of funding and regulatory issues among the top two challenges impeding their growth.
- Collaborations with other life sciences and healthcare companies, human resources and infrastructure were among the other key challenges for the startups.
- In fact, collaborating or partnering with large companies says startups is challenging for them as 60 respondents prefer collaborating with small businesses that have revenues of less than Rs 1 crore.