Amrit Kaal Vimarsh

Galgotias University hosted the "Amrit Kaal Vimarsh," an AICTE & Ministry of Education activity aimed at achieving the goal of "Viksit Bharat@2047" on 14 Sept. 2023 from 02:30 PM to 04:30 PM in the C-Block (Swami Vivekananda Auditorium).

More than 300 UG/PG Students, Research Scholars and Faculty Members of Department of Basic Sciences, Department of Paramedical & Allied Health Sciences, Department of Bio Sciences, Department of Pharmacy, Department of Computing Science & Engineering, Department of Agriculture and other departments of Galgotias University attended the session. The event was inaugurated with a Saraswati Vandana and Lamp Lighting Ceremony. Chief Guest Mr. Prashant Tandon, Founder & CEO, 1MG, Hon’ble Vice Chancellor Prof. (Dr.) K. Mallikharjuna Babu, Dr. A. Ram Pandey Dean Media & Dr. Gaurav Kumar, IIC Head were present on this occasion. Dr. Mehak Pandit hosted the event and welcomed the dignitaries and participants. She introduced the keynote speaker Mr. Prashant Tandon, Founder & CEO, of 1MG, and invited him to deliver the talk.

Founder and CEO of TATA 1mg, Mr. Prashant Tandon addressed the gathering and explained to the students that the current generation is going through AmritKal. He mentioned that global macroeconomic scales are currently tipped in favor of India as post-COVID all major international powers have been inclined towards the Indian market rather than China. He also stated that another major reason for India's development as a global financial power is the energy sources. The growing inclination of the world's superpowers towards alternative and sustainable sources of energy has put India as a front-runner in the global economy.

He claimed that the rebalancing of the global economy has opened a variety of opportunities to the Indian market. Today's young generation should be ready to take full advantage of this situation. He also interacted with the university students and shared his success story to motivate them in their future journey.

In the question & answer session, several participants were asked following questions:

How does 1mg plan to ensure the availability of medicines and healthcare products in rural regions?

How does 1mg make sure that women's health information is kept private and safe when they use the app?

If a person talks to a doctor through 1mg's app, how does the company keep their medical information private?

Does 1mg offer discounts, subsidies, or support for those who may struggle to afford healthcare services, medicines, or consultations?

does 1mg collaborate with government agencies or nonprofit organizations to extend affordable healthcare options to the underprivileged and poor?

For someone interested in starting a healthcare startup like 1mg, could you share insights into the challenges and obstacles 1mg faced when it was just starting out as a healthcare startup?

What advice or strategies can you offer to aspiring entrepreneurs regarding securing funding for a healthcare startup, given the unique challenges of the industry?

In the competitive healthcare space, how can a new startup differentiate itself and carve out a niche like 1mg did?

What were some of the major legal hurdles or regulatory challenges that 1mg encountered when establishing itself as a healthcare startup?

In the context of pharmaceuticals, what legal considerations did 1mg need to be aware of regarding the sale and distribution of prescription medications?

How did 1mg approach intellectual property rights, including trademarks and patents, in the healthcare and technology sectors?

Answering the question of a budding entrepreneur from a Medical Biotechnology student, who had concerns over his entrepreneurial journey about failures becoming an obstacle in the growth of a startup, Mr. Tandon emphasized on taking failures as a learning experience. He said that instead of looking at an obstacle as the end of an entrepreneurial dream, in-depth studies and brainstorming should be done to take lessons from failure and implement solutions in the next step of the venture.

In conversation with another student who asked whether an entrepreneur should focus on a service-based market or a product-centric market, Mr. Tandon said that given the current market scenario, both are equally feasible options for an Indian entrepreneur. He said that India has always been a leading global player in the service-oriented market. However, with the recent development of India's financial position in global economics, India is one of the forerunners in the manufacturing market. He proudly proclaimed that the product-based market for an Indian startup is not only in international demand but the domestic Indian market is also equally open and conducive to the development of a product-based entrepreneurial venture. He encouraged the students by saying that the currently available tools and technologies are in favor of the young generation and they should take full advantage of these technologies to fulfill their entrepreneurial dreams.

Prof. (Dr.) K. Mallikharjuna Babu, Vice Chancellor, felicitated the Chief Guest Mr. Prashant Tandon, Founder and CEO of TATA 1mg by offering him a memorandum. The event ended with a vote of thanks by Dr. Mehak Pandit.