As part of our relentless pursuit to identify and share some of the compelling stories from the startup ecosystem, this week we invited Dr Ajay Murdia for an exclusive interview with us. Dr Ajay Murdia is a passionate entrepreneur, thought leader and one of the pioneers who made IVF treatment affordable and accessible to the masses. Let’s read more in detail about his startup, his journey as an entrepreneur and his advice for our community.
Excerpts from our exclusive interview with Dr Ajay Murdia:
We are all aware of the great work you are doing but don’t know much about how it all started. Please tell us a little bit about your inspirational journey;
Ever since I started my career, I have been very passionate about doing something purposeful and meaningful throughout and I strive to do it even today. Together (with others around me), we have come this far and It feels that you have just started, particularly when you still have a lot to do for those around you. I consider myself fortunate to have found a strong team of high performing and passionate people who made my journey a bit smooth. Like I said, we still have a lot of work to do.
So talking about my journey – as soon as I finished my MBBS degree in 1975, I started my career at Bombay Hospital. It was in 1977 when I came back to Udaipur and entered into the field of infertility. I was selected by RPSC (Rajasthan Public Service Commission) in 1978 and worked for 10 years in Govt. job, during that period. I further completed my MD in Pathology in 1982. After serving Govt. for more than a decade,
I took the plunge to start something of my own in 1988 which would give me a purpose in life. What initially started as an infertility treatment clinic in 1988 was later upgraded to test-tube baby centre in 2011.
Today there are 80+ Advanced Fertility & IVF centres across the nation and the figure is increasing day by day and we are likely to reach the milestone of 100 centre by March 2020.
Why did you choose entrepreneurship over a job?
I always felt a strong urge from within to serve the needy & the under-privileged. And always believed in the saying – “If a man wants to worship God, he can do it by serving the needy” and there is no better way than fulfilling the hopes of those who need it the most.
When I was working, I realized that the IVF treatment that time was unaffordable and inaccessible to the masses.
I noticed that infertility was seen as a curse and during those days, only the females were held responsible for not being able to have a child. I educated the families and the couples that even males can be infertile and there is a treatment for infertility for both males and females.
I couldn’t have solved these issues in a job, given the challenges in the traditional system. The only possible way was to start it on my own and make a difference. It was the support of my family and the trust of my friends, that gave me the confidence to become a full-time entrepreneur.
How do you find the industry/niche that you’re in?
The India IVF Services Market was valued at $256.0 million in 2016 and is estimated to reach $829.5 million by 2023, registering a CAGR of 18.2% from 2017-2023.
The India IVF services market is developing steadily and is projected to grow at a high rate, owing to increase in awareness among the populace with respect to infertility and programs that are projected to develop patient confidence.
High success rates of conception associated with IVF also accelerate market growth. Furthermore, high prevalence of infertility among the population, change in lifestyle, growth in acceptance of ART and IVF, and increase in awareness about IVF among the non-metro regions have driven the adoption of IVF services in India. However, ethical and legal issues related to embryo transfer surrogacy major restrain the market. In addition, the lack of established regulations with respect to IVF also impedes market growth.
Likewise, high potential for improvement of healthcare service penetration in India presents lucrative opportunities for the overall development of the IVF market in India.
What gets you out of bed in the morning i.e. what’s your source of motivation?
When you are passionate and purpose-driven, you get the motivation from within. Everyday, I think of doing something better for patients. I think of ways to make an impact on the masses and that is the best source of motivation for me. You can call it my hobby as well.
What challenges/obstacles did you face in your journey so far?
Since infertility is a sensitive issue, people are reluctant to talk and discuss it openly and they have lack of Knowledge regarding IVF facilities. To address this issue Indira IVF group has been instrumental in spreading awareness using scientific methods to deal with infertility by organizing free awareness campaigns under the banner “Nisantanta Bharat Chodo Abhiyan”. Till now, we have successfully organized 2000+ fertility awareness camps covering 746 cities, 24 states in India.
Accessibility of IVF treatment was another challenge. Most of the good IVF centres are available in metro cities only and not reachable to small cities and villages. Indira IVF made infertility treatment available for patients within a short range of 200 km from their home.
It has 80+ advance fertility clinics across the nation and planning to open 20 more by the end of the financial year 2019-20. Another challenge was to get an adequate number of skilled IVF Specialist to handle the cases. Only 700- 1000 gynaecologists are IVF specialists in India which is not enough considering infertile couples population in India. When we were expanding, we faced the same challenge and decided to combat this by introducing INDIRA FERTILITY ACADEMY.
IFA offers structured advanced fellowship program in IVF, wherein suitable candidates are imparted focused education & training in the field of reproductive medicine. Rigorous Training is provided by dedicated experienced mentors, on the simulator so that same success rate can be replicated across all our centres.
How do you handle the pressure and manage stress?
I don’t feel stressed, so many of us tend to overcomplicate things, which adds pressure and stress in mind.
By eliminating unproductive activities from our days, we are able to streamline our personal and professional lives.
As a result, we are able to focus more on what is important. So instead of handling the stress, I handle the work that needs to be done. Work completed well on time is the best way to beat stress.
What is the strategy that you believe has helped you grow as a person/startup?
Our strategy is simple, we provide a high quality of patient care with a patient-friendly approach through our infertility workup which ensures a smooth and transparent process right from the time you enter our clinic. After diagnosis, the patient is given a personalized treatment by a dedicated fertility expert. We are able to afford it since we have one of the largest and most experienced teams of fertility experts and embryologists in the country.
Indira IVF works on following 4 Pillars:
1) AFFORDABILITY: Indira IVF has been working continuously to bring down IVF treatment cost with the best medical care to make it affordable for common masses. In the last five years, the cost of IVF cycle from 4-5 lakh has brought down to 1-2 lakhs. It has made the treatment affordable for different sections of society.
2) AWARENESS: Indira IVF group has been instrumental in spreading awareness using scientific methods to deal with infertility by organizing free awareness campaigns under the banner “Nisantanta Bharat Chodo Abhiyan”. Till now, we have successfully organized 2000+ fertility awareness camps throughout the nation.
3) ACCESSIBILITY: With an aim to provide advanced fertility set up across India, Indira IVF had already established 80+ dedicated IVF Centers throughout the nation with a plan to open 20 more centres this year to make infertility treatment available for patients within a short range of 200 km from their home.
4) ASSURANCE: The success rate speaks for itself and it at par with the best fertility centres worldwide. Over 50,000+ couples have been joyous during the IVF treatment in the last eight years at different Indira IVF centres.
In your opinion what are the keys to success?
You should always have a customer-centric approach and transparent in whatever you do. Your services must satisfy customers’ need.
What advice would you give to someone starting out?
To be successful, you should solve a real problem and meet real needs with your product/services. Always be transparent and honest with your customer. Put the right team in place who understand your vision and fit into the culture and mindset of your company.
BrilliantRead is committed to bringing stories from the startup ecosystem, Stories that reshape our perspective, add value to our community and be a constant source of motivation not just for our community but also for the whole ecosystem of entrepreneurs and aspiring individuals.
Note: If you have a similar story to share with our audience and would like to be featured on our online magazine, then please write to us at [email protected], we will review your story and extend an invitation to feature if it is worth publishing.
