This case study outlined the strategic and organizational issues faced by an entrepreneurial firm operating in an emerging economy. While the traditional view is “more for more” and “less for less” with respect to quality and price, the medical devices sector demands “more for less” in an emerging economy such as India, i.e. the market demands quality products at affordable prices. This case was written to equip students with the knowledge of how entrepreneurs can overcome certain barriers and use technology to recognize and exploit an opportunity, using the Indian health-care industry as an example. The key learning outcomes for the case include the following:
• Entrepreneurs define their own market, come up with innovations and create a completely new market with suitable customer value proposition.
• Entrepreneurial opportunity recognition comes from being prepared, having prior knowledge of customers and the market and having a strong network.
• An entrepreneurial preference for error of omission or commission is the determining factor when deciding whether to exploit a recognized opportunity or not.
• Entrepreneurs exploit an opportunity by giving special emphasis on their entry and risk reduction strategy.
• A technology-based product with a combination of services that will create its own product ecosystem with data is the primary goal.
The Indian health-care sector is one of the largest sectors in India and incorporates the medical devices sector, and the heart monitor segment especially represents a huge untapped opportunity. India has the highest number of deaths because of heart disease in the world, yet there is no mechanism for affordable heart monitoring, which results in large number of deaths. As existing products are either B2B or unaffordable, there is an opportunity to leverage technology to come up with cgiq products similar to blood pressure and sugar monitors. However, there are certain challenges unique to the market and product. The case described how two young entrepreneurs founded a company called Agatsa and overcame certain challenges to create a credit card-sized ECG device and the importance of building an ecosystem in a new market. Some specific issues that the case posed included the following: will it be possible for Agatsa to come up with an ecosystem to monitor heart functioning and will that be accepted by the stakeholders in an emerging market such as India? Should Agatsa have a product-driven strategy or a data-driven strategy? Will Agatsa be able to find the right business model to create and capture value?
Complexity academic level
MBA in courses such as entrepreneurship development, new venture creation and entrepreneurship in emerging markets.
Teaching notes are available for educators only.
CSS 3: Entrepreneurship.
Disclaimer. This case is written solely for educational purposes and is not intended to represent successful or unsuccessful managerial decision-making. The author/s may have disguised names; financial and other recognizable information to protect confidentiality.
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