Access to quality healthcare services remains a significant challenge in Pakistan. According to the Global Access to Healthcare Index, Pakistan ranks 57th among 60 countries in terms of access to healthcare services (2018). This low ranking is evident in unmet health needs, undue financial burdens, expensive service provision, and the lack of preventative services for a growing population of over 200 million. The COVID-19 pandemic has further exacerbated access, availability, and affordability of appropriate care, particularly in rural and marginalized settings, and has also intensified the already existing gaps hence, the promotion of innovative and affordable solutions in the healthcare sector is vital to overcome the limitations in the healthcare sector.
To stimulate the health-tech ecosystem in Pakistan, Accelerate Prosperity, which is Aga Khan Development Network’s regional enterprise growth accelerator in Central and South Asia, and the Aga Khan University (AKU) have designed Pakistan’s first National Health Incubator to enable the development, deployment, and commercialization of select innovative and technology-driven health solutions in Pakistan.
- Launch: Ideas or Startups with a Minimum Viable Product (MVP), a health technology and/or innovation, that has gone through the first customer test;
- Growth: Existing businesses with good revenue streams aiming to grow the existing health technologies or innovation;
- Adopters: Existing health service providers with revenue streams who are looking to adopt a new or an existing health technologies or innovation within their operations.
- A unique and innovative business model with a potential for causing or contributing to positive economic and social transformation.
- A clear market niche, sound target market and customer base.
- Realistic competitive advantage in terms of price, quality and easy/ large access.
- Strong revenue and profit models, potential for scalability and growth.
- Strong value chain effect.
- Impact potential.
- Strong entrepreneurial traits, including (but not limited to) leadership qualities, risk taking, street smartness, ability to do more with less etc.
- Coachable team, including (but not limited to) openness to advisory, learn, ability and openness to constantly iterate, adapt and evolve based on changing conditions, realities or assumptions etc.
- Past experience in doing business, or as an employee in a similar industry, or subject matter expertise relevant to the product/ service.
Following are the key steps in the application process:
Step 1: Application Shortlisting
Step 2: Interviews of Shortlisted Applications
Step 3: Business Training & Advisory
Step 4: Submission of Information Memorandum & Financial Models
Step 5: Pitch for investment
Step 6: Due Diligence of selected applicants.
Step 7: Investments for shortlisted businesses
Official Website: National Health Incubator