Just think it over first – Diabetes caused 4.6 million deaths in 2011. 366 million people across the globe are suffering from Diabetes and in next 18 years, the intensification will reach 552 million people. Unfortunately, 78,000 children develop diabetes every year. Now, here comes the big shock – 70% diabetic patients are NOT self- monitoring their blood glucose daily. So, what’s causing those people to avoid a one minute daily monitoring exercise which could prevent them from death ?
A Pune based Tech-Startup – Diabeto– apparently got the real nerve and has come out with a solution that could possibly relax the ‘self-monitoring-challenge’ till a significant extent – if can’t kill diabetes. A seamless integrated model of Hardware and Mobile App, Diabeto allows patients to transfer and manage their daily diabetic records to their smartphone wirelessly from Glucometer without any much effort.
“The biggest challenge for Diabetic patients is to maintain and manage their daily monitored records. This is resulting in improper physically maintained medical transcriptions only to strain Doctors in order to diagnose patients effectively. As Diabetes is also scoring among children, it’s become more complex for doctors to treat many such children who are faking their records to avoid pills and treatment” says Shreekant Pawar, Co-Founder and CMO of Diabeto.
Smartphone is rapidly replacing feature phone and mobile users have started leaning towards it. Interestingly, Smartphone will account for 67% of total mobile handset shipment by 2016. That could be the reason, Diabeto management got fascinated towards business model which is largely influenced by (and dependent over) smartphone as date storage device to maintain all records in electronic form transmits through Diabeto hardware dongle wirelessly. Intelligently, The app comes free with the Diabeto Dongle – an effort to en-cash the freemium model as 89% of global 45.6 billion app downloads are free in 2012 !!!
Though, many could debate over the point as Cloud storage has got larger number for e-Storage, Diabeto management is committed to keep the whole setup independent.
“We don’t want to make mobile internet as statutory requirement for Diabeto. This could unease many potential people who want to own Diabeto but don’t want to stuck with complex maintenance and data- access scenario. Having said that, Cloud storage is definitely under progress plan and shortly it would be available as an extension of storage” says Hemanshu Jain – Co-Founder and COO of Diabeto.
Though, the whole business model looks promising, there is no startup that never heard the ‘not-so-pleasant’ tune. The story of Diabeto is no different as due to involvement of healthcare and medical complexity, it needs to pass through various certifications, verification and approvals – if not many leaps and bounces as Startup. Other issues such as legal problems with diabetes drugs (things like the suspected link between Januvia and cancer) can add to the complexity. Still a week away from official launch, Diabeto has already raised $75,000 as Angel investment from various sources.
However, the bigger challenge is to ‘sustain’, as the business model needs big-big investment due to involvement of hardware manufacturing cost, claims Shreekant.
Here is the full-length exclusive interview of Sreekant and Hemanshu that showcases their conception of the idea, journey so far, challenges and future goals.
Diabetes Facts Source: IDF