Leo S. Maveli, Founder CEOof Axio Biosolutions Pvt. Ltd in Ahmedabad, Gujarat, India will be featured in the 15/January issue of Manifest Magazine. Here is an excerpt of the interview.
The Jama Masjid of Ahmedabad, Gujarat, India
How easy is it to start a company in India?
Post liberalization and opening of economy, starting a company in India has become much more easier. To give you some numbers, we registered our company and started our operations within just 15 days of filling first form and by pooling in few lacs of rupees. These figures could vary from state to state in India. We being at Gujarat, which is one of the most entrepreneur friendly state in India, had the advantage of being at the right place. However with growth of entrepreneurial eco-systems like incubators and other infrastructure, starting a company from scratch is not difficult any more in India.
How easy is it to hire the right management team and employees?
We being a small startup, hasn’t really gone all out to recruit many. But the response we are getting from the prospective associates are encouraging. However in India, working for a startup hasn’t been looked upon as a feasible career option by experienced professionals. So though getting freshers seems to be easy, hiring experienced and skilled workforce still remains an issue to startups. We hope this situation would change once there are more success stories from startups, which could then be emulated.
What have been / are your greatest challenges?
As we operate in an emerging field like Medical Devices, we face very specific challenges related to getting licenses and other regulatory clearance from Government authorities. Unlike regulated markets like US and EU, India still does not have a clear regulatory pathway for medical devices. This creates a stumbling roadblock for startups as time, money and effort which could well be spent on product development is unnecessarily being spent on getting a clarity in terms of product classification and regulatory clearances.
This is a challenge specific to the industry we are operating in. Raising finances which is usually described as a major challenge in India, hasn’t been a challenge for us until now.
Leo S. Mavely – Founder
Leo, technically a graduate in applied biotech engineering from MDU, Haryana. After joining NirmaLabs ( a technology business incubator), he has been working towards building a world class medical product for the ‘affordable’ population in developing countries.