Don’t invest time to buy money, invest money to buy time
In a one to one conversation with Anant Agarwal, the visionary behind the transformative venture, Indoriv Clinical, renowned for revolutionizing the global Biotech and Pharma landscape, delves into his entrepreneurial odyssey. Agarwal discusses his insights into the health sector, emphasizing a notable surge in the field of biobanking. He sheds light on the potential of biobanking in averting future pandemics, offering unique perspectives and valuable foresight.
Anant Agarwal, hailing from Kolkata, is a trailblazer in entrepreneurship and clinical research. In 2012, he founded Indoriv Clinical Private Limited, a venture that has transformed the Biotech and Pharma sectors. With a team of 100 skilled medical experts, Agarwal’s company drives innovation in these fields, bridging the gap from idea to market. Agarwal’s journey began at the University of Sheffield, where he earned his degree in Biomedical Engineering in 2011. A setback during an internship led him to establish a pioneering clinical research consultancy and biobank, reshaping the landscape of medical research.
Excerpt from an interaction with Mr. Anant Agarwal –
What motivated you to find your own clinical research company?
In 2012, I couldn’t land a decent job, so I ended up interning in clinical research at a famous hospital in Kolkata. Unfortunately, things went south because they were handling activities unethically. The company I was working with approached me for a freelance project, and that’s how this company started, with just that one project. Still, my plan was to go abroad for an MBA, but everyone advised me to stick with this industry. We’re primarily a clinical research company. In terms of business, we focus on Phase 2, 3, and 4 trials. We partner up with various hospitals, diagnostics, CROs, etc., basically handling the end-to-end for clinical trials – Anant Agarwal said
When did you start with bio banking?
In 2003, a local paper in New York featured an article that ranked Bio Banking as the third most influential factor shaping the future, with AI claiming the top spot. This concept resonated with me deeply. Essentially, Bio Banking involves the collection of medical data in the form of blood, urine, or various types of specimens, along with the associated biodata. The COVID-19 pandemic starkly highlighted the industry’s shortage of essential data, potentially delaying the vaccine discovery process. This realization prompted us to embark on our bio banking journey about 2-3 years ago, fueled by the ambition to become the world’s largest bio bank – Anant Agarwal said
Do you anticipate any significant financial milestones for your company within the next few years?
Honestly, there was a phase when I set monthly targets, but now I’ve shifted gears. Currently, we’re pulling in nearly $2 million in annual revenue. Surprisingly, my perspective on numbers has evolved. It’s not just about the figures anymore; it’s about optimizing time. As a financial projection, we aim to scale up to a ₹50-100 crore company within the next 2 years – Anant Agarwal said
How do you prioritize and implement automation in your business operations?
I once attended a workshop in India with a gathering of about 500-600 entrepreneurs. The speaker threw us a question: “How many of you can take a leisurely 6-month vacation in Bali?” To my surprise, only one or two hands went up. That moment left an indelible mark on me. The speaker pointed out that those one or two individuals were the true entrepreneurs, while the rest were merely self-employed.
This notion strongly resonated with me. As a business owner, my focus has always been on automation. I firmly believe that our role is to build a culture of delegation and supervision. Time management is crucial in my approach to running the company. I thrive on setting things in motion and streamlining processes through automation – Anant Agarwal said
Anant Agarwal has embarked on a fresh venture as a “clinfluencer”, where he dives into health intricacies, evaluates supplements, and unveils intriguing medical cases. His reels garner an account interaction of over 8 lakh people, marking a recent skyrocketing ascent in his social media presence. This transition is a noteworthy extension of his influence in the healthcare domain.
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