 So let me go to the last part where we'll give you a little bit of best practices. Although some of these things are applicable more to the faculty, researchers or directors of institutions who are setting up innovation ecosystems, there will be glimpses of the things which will be useful to you also. Especially when let me say five years down the line, you want to create your own innovation team or maybe in your own company or you want to select a partner for helping in your innovation, some of the elements will come in handy for you. So what we do is that we look at Betik, our lab which is called Betik. We look at Betik as not the inventor but Betik as a running partner for the inventors who are running a marathon. We look at those who do healthcare innovation and especially some of you who are actually already thinking of doing that. We have the greatest respect for you because we feel that you are the ones who will win the gold medals. We all celebrate Neeraj Chopra but we must equally celebrate who are supporting them to reach that place. That doesn't happen every time that we have to also recognize that. So I'll give you glimpses of the ecosystem that builds winners like what we were seeing earlier. So once you step into Betik at IIT Bombay, we have facilities for POC building which is the first one here, CAD and simulation, the second picture here, electronics prototyping, plastic prototyping, metal 3D printing and also pilot manufacturing. We also have facilities in Pune and Nagpur invention to you and the gate lab which I showed you earlier, those markers you can put on the body and then cameras will pick up your human movement which is a good indicator for not only what's called as musculoskeletal problems but also for psychological or neurological problems, walking signature changes if you have some even mental disorders, neurological disorders. And the best part is that we have pipeline. The pipeline starts from Mehta, it's called as medical device hackathon which we normally do it in summer months. This year we did a E Mehta because we could not get physical, get together of people and this is where the problem that keep on coming to us almost on a daily if not weekly basis. Problems from doctors saying why don't you look at this is a very important problem. Those problems and many people who want to work in medic or medic centers, we qualify these to get qualified because we see which problems are worth taking forward and which innovators are worth supporting forward. So they all participate in this Mehta. The best ideas and innovators we invite them to medic which is a one week intensive camp. This year we are doing an E medic but five days intensive camp becomes very difficult. We distribute that over four weekends. In fact, the last Saturday that is second of October was the first day of this year's medic and so second October, 9th October, 16th October, 23rd October and 24th October is going to be finale of this medic event. Very best of the best ideas and innovators will give them a one year fellowship in medic. Like we mentioned the first medic which Adarshah and Tapas had, they came from this medic event and joined medic for one and a half years and exhibition typically you get to meet investors and partners and doctors and even general public. The moment you say that this is very interesting product we want to buy that, then you should start a company at that point of time. And Sine is our business incubator but these innovators can go any other incubator that they want to and eventually they go to medical park or an industry park or a research park and so on. So typically from a hospital bedside to engineering bench to business back to hospital bedside we can close the loop for a low to low to medium risk device like the stethoscope and many others we have done. We can do it now in under one to two years now, it's possible but a high risk device like an implant can take you five to eight years. So just remember that the risk as well as investment and timeline are high for high risk devices. So for startup companies we don't really recommend implants and class 4 devices. For startup companies I think that screening, diagnosis, low risk, low to medium risk devices are a good bet because investment is low, you can get to the market faster as long as you are creating a good value proposition, it works very well. Let me just show some pictures of this hackathon which we do in different places. We are in Bangalore, Pune, Varda, Kolhapur, Nathpur, Mumbai also other colleges and then the medic which is currently going on but these are the previous medic, day one typically we take them to hospitals but now because we can't take them to hospital this time we are showing them videos of hospital immersion. Day two they start looking at brainstorming and how to create solution they see the start building the POCs, they for the test it in some way and also volunteers and the day five they pitch it to a room full of doctors, industry experts, technology experts, investors and so on. And these are pictures of our previous medic camps. Those in the front row and some with the ties obviously are our jury members and most of them are doctors who can give very, very cutting feedback on ideas. Some doctors will say this is a great idea and the same jury panel one doctor will say no, no we are solving it in different way and you should do like that and this is very good feedback in just one day. The kind of feedback that these innovators get is worth. You won't get the feedback even if you travel one year and meet so many other doctors. It's a very intensive kind of environment. So this year we are doing an e-medic 2 to 24 October already started and you can watch the news in LinkedIn and other places that we'll put out those pictures. And then the winners of those medic, we bring them as medic fellows for one year and you can see the pictures where these medic fellows are working with doctors. In every picture you'll find one medic engineer and one doctor and some pictures you also see the patients like the baby in the middle that was a Vardier hospital in Mumbai and these babies were clubfoot deformity. We helped in creating what is called as a smart brace. So the parents know that how to put the brace properly and the doctors can monitor whether the parents have put the brace properly because if it's not done properly the deformity cannot be corrected throughout the life. The best time to create the deformity is in the first three months to one year after the baby's birth. So all other pictures have this doctors engineers we call them as our happy pictures which gives us a lot of joy, satisfaction, motivation to do this innovation. And then the fourth step I mentioned was to put the device in the exhibition. We organize our own exhibitions at least once or twice every year which we call as medics, medical device expo. But we also go to other events like the India international science fair where you can see our former health minister Dr. Harshvardhan coming to our booth and by the time he came to the booth for the third time for the third year he was asking, so what is new this time Dr. Rupesh? He's our CEO of our committee. Honorable Prime Minister had come to IIT Bombay, we had a special exhibition for him and you can see him seeing our prosthetic leg which we have developed for like Jaipur leg but it's a much better, much smarter device made using advanced technologies, slightly higher price but much better functionality in terms of walking gate. On the bottom right you also see product launches happening during our exhibitions. So you can see Dr. Kakurkar along with our director launching a diabetic foot screener which is a major issue in the country that out of 6 crore diabetic patients in the country today almost 10% will get some amputation of the foot toe because of a gangrene and an infection which doesn't come in the news but it's a fact. The largest number of amputations happening are because of diabetes in this country and that we want to prevent by this diabetic foot screener device that is being launched during one of these events. So today we have 16 products coming out of Bidic, all these are spanning, screening, diagnosis, monitoring devices, surgical instruments various other treatment devices, rehabilitation assistive devices and these are spanning also low risk class to high risk class and you can see the company names in red color. Every one of these has one minimum funding of 50 lakh rupees. Average funding was 1 crore and the maximum funding some companies have gone even 4 to 5 crore rupees of funding to go forward in their innovation pathway and many companies are also coming to us. These are all small, medium companies, Indian companies who cannot set up their own R&D centers because of either cost or inability to attract the right kind of talent. So this comes to us saying that why don't you become our R&D unit we know the market, we know the doctors, we can do distribution we know the specification of the product but we do not know how to create the product and do this concept prototype and product. Why don't you do it for us and they're so happy that they're coming back to us now second time, third time and so on. And this we call it as a better ecosystem where we say that we need to be able to create a overall architecture of an institution where we can take research to innovation to entrepreneurship and for that we need four pillars, that's for your interest and if you're looking at any institution where you want to get help see that they have at least as many of these as possible. So one is that do they have an interdisciplinary team structure for example, we have people who have we actually have doctors in our team member, full-time doctors or physiotherapists or biomedical engineers, we have electronics people, we have material scientists, we have mechanical people design software, you know all these people work together in Betik lab and many of them are managers, mentors and so on that's one critical part. Innovation culture when you're doing innovation you're taking a risk when you're taking a risk there's going to be failure when there's a failure you want to learn from failure and then go and become stronger and move ahead not get disappointed or disheartened by failure. So how do you handle failures which come out of risk which is part of innovation is a very big part of the culture which Indians are not really mastered yet so we try to really handle that in a big way. And third is this infrastructure for designing manufacturing, testing and so on only the kind of procedures that we have you won't believe that people have come to Betik and said that you almost run like industry we have signed formats and records which everyone has to fill a doctor visits us, we give them a form to fill saying that you have fill and sign that doctors are surprised when we go to hospital they ask us to fill a form first time when you go to hospital to open your file we give a doctor to open a file in our lab it has to be signed by the doctor and then signed by the person who is interviewing the doctor and that becomes our first step towards problem definition can you imagine we have like 200 forms like that in Betik and this is part of the ISO 13485 we are internationally recognized what's called as a quality management system for medical devices and I don't think any other academic institute in the country has that that makes us very easy for us to get permissions from hospitals or testing centers or government for doing these patient trials and human clinical trials now you can say all this sounds very difficult for an academic institute this is not a job academic institute we are supposed to do just teaching and research right who is talking about these things in which academic institution so people actually get surprised that I even talk about these things and they say how are you even finding the energy or the resources to do all this next students I would like to just mention Sir just passing made a remark that he has this metal 3D printing you know this is the one of the only machines in the whole country which can do titanium implants in IIT for example and that would be 3D printed you make 3D printed plastic parts but the type of infrastructure which Ravi is saying is it really takes huge huge amount of effort and you know like every pillar what you see has been very very painstakingly built and once the pillar is built for example people are now using it to make titanium tooth implants, customize titanium implants for the various parts of the body just you know other than any other large of course the knee and the hip joints but you know customized implants can come out of that once more he showed this whole big picture of multiple facilities but I thought I'll just mention this one facility which is you know which is one of the toughest materials and it goes through a huge process of sintering and you know powder but just to you know highlight that point of infrastructure I was telling Ravi that lot of my own friends you know across institutes also get very very surprised and you know it is you know the way you know the whole pillars have been built, the way the whole methodology has been built we're going to follow that now very rigidly in our eight days of you know engagement where we're going to show you different incubators but you're free to you know also think about how whatever you come up with in fact I've opened it earlier I said we'll do toy and game but I opened it up I said whatever you want to but you're to build a team of five people but you know again back to you Ravi thanks I couldn't stop myself because you just made a passing remark on the metal 3D printing but I know that I thought you put in for two full years to get that machine up and running next to my lab and you know just to get inspiration I go there and watch some of the prints printing going on and it's really a fabulous initiative yeah please Ravi go ahead Thank you for mentioning that actually we are using that to do research in one area which has not been done anywhere in the world also which is Maxlo Facially Implant many road accidents the face gets crushed sometimes the eyeball get eyeball is intact but the bone under the eyeball get crushed and the entire eyesight becomes you know unbalanced so there's something called orbital implant there's something called your many cancer patients the Tambaku, Gudka cancer patients you might have seen in TV advertisements one whole side of the face is gone right we have to rebuild the whole thing using and we are using this research to look at reconstructing facial bones you know that is Maxlo Facial is what is called so this is all tough so again thank you for saying that again I would again mention to you a very important thing you know Professor Ravi's first PG student worked on this whole issue of how do you identify the benchmark and how do you get the scanned image of your bone or from this side to map it on this side there are some three to four PG students who worked on it so it is not coming just out of nowhere it's coming out of deep research you know and all those stages are there and now you know those same PG students are now you know heading institutes in Singapore and other locations and you know taking the betting story forward but even you know just now that Sir just mentioned that the 3D depicting the you know the face the Maxlo Facial bones but to do that the type of research which is at the back you know is you know a phenomenal amount of knowledge which has been made thank you for saying because what I want to say next is precisely that how do you put the whole things together you know it's not just facilities but also people but also culture and many people who come to our lab get surprised they almost say that we don't want to leave this place and I say how do you do something like that I say the secret is very simple our focus is not on buying a machine or not on you know getting some award or not on you know writing a paper or getting a promotion or something like that but we are always saying and we tell that to every team member who comes to saying that focus on the end user think about the poor patient in that rural area who is cannot afford a treatment or cannot afford a diagnosis simply because he's in a wrong place or has a wrong income you know structure so we say that if you focus on that the end user who you want to really help and benefit somehow all things magically fall in place it may take sometimes months it may not happen in days and weeks but sometimes it has happened miraculously we thought about a very critical problem or a resource and there's a magical phone call and then by the way we invented a new sensor we are looking at someone can try it out and we are looking at a sensor which needs exactly same specifications so these miracles will happen if you are what I call a purity of purpose in terms of really helping the marginalized poor people I think you know somehow these things fall into place I want to share that which is unscientific but I would like you to try it out and see that can you take on a problem which others have not taken just because there's no money or business into the whole thing but somehow magically everything falls into place just try it out sometime in your life and that I want to end with one more couple more points one is that when you say stakeholders and we academia we represent academia in medical domain it is very important to have the three other stakeholders one I mentioned all the time which is hospitals I also now mentioned industry which is both startups and industry and government government plays a very critical role because they are the ones who give us funding to create by these machines build these labs you know give pay salaries not very high salaries but some salaries to these fellows and all that and the medical device regulation which I mentioned also academia we typically do R and D production development industry typically does manufacturing and marketing if your R and D is complete properly handshaking between your prototype to product has to be proper and then hospitals where we go to identify a problem and we go back to them to see whether the solution is proper or not these are the four critical stakeholders in medical device innovation but it does not stop there we need four more people we need incubators where the startups can start we need testing centers where are very interesting centers in the country accessible for startup companies big companies have their own testing centers but startup companies where will they go for mechanical safety testing electrical safety testing and so on these centers cost close to rupees to setup we need investors to put money in this you know in this area investors are putting money in B2B and e-commerce and fintech and everything else but healthcare it is still it is slowly increasing but it's still not there and finally media has to play an important role they have to highlight stories of this innovation how they're making a difference it is happening again now it is happening but in the beginning five years back healthcare startups were nowhere there in this whole ecosystem but now we are seeing very good traction in all the four all the eight friends and last I would like to share with you how do you decide what you want to do in life if you decide to do entrepreneurship is it right for you or not that is the first question if you want to really do entrepreneurship and create your startup company what problem you should solve or what area you should work on that's one decision point and once you decide to do a startup in a particular area let's say healthcare startup or a screening device for cancer anything else you want to look at you decided that how do you select the team members for that okay so this slide will answer your these questions this is loosely borrowed from a Japanese concept called ike guy in case you want to look it up but here is my version of that same Japanese concept so it's based upon answering four questions to yourself close your eyes or go sit in some quiet place think about what you really love to do think about what you are good at doing think about what will get you some money because finally life cannot be done on charity you have to earn some money and finally what the world needs okay these four things if you look at these four questions and you want to also look at how do you know the answer to the question I am giving you criteria you know that you love to do something if you forget food and sleep you are just cheerful it just keeps you engaged you just don't want to stop doing that that is what it means that you love to do what you are good at doing how do you know that that is what your degree is that is what you are trained into that is what you are good at doing what you are paid for is your salary coming from that and someone is giving a check or transferring money to bank account and what the world needs is give you some contentment when we do something what the world needs you feel little happy inside okay now let me cross these and get you four more sectors what you love to do and what you are good at doing is what is called as passion and just to put a picture so that you can connect with that in your mind what you are trained to doing what you are good at doing and what your salary comes from is a profession and he is one great doctor from South India again and what the world needs and what it can be paid for the same doctor teaches biology to his other kids in his building in his spare time or weekends and the parents don't mind giving him some money or maybe taking him out on dinner which is money in some form that is called as vocation and here is one more example of that who made vocation into his full-time job and what the world needs and what you love to do is what is called as mission the trick in life is to find something which connects on the four sides if you can find that and if you find that early in life oh yeah you can achieve fulfillment you know way before others and this fulfillment cannot be bought by riches or comforts or good words or praises from people this is complete inner fulfillment okay so find out what is it that you can do that connects on the four sides and once you decide what you want to do find out others who connect with you on a similar passion this helps you to answer both these critical questions of you so that is the end of my last part and all the things and maybe I want to leave you a thought with you in medtech innovation in general what do you think is the biggest bottleneck or a challenge which is preventing the success stories coming out is it that we have academic mindset I mean as students we just want to learn something on your degree get some high marks and get a salary job is it the academic mindset from student side and teachers just want to simply teach what is in textbooks we classically said textbook to blackboard to student notebook without going through anyone's head or heart okay or is it that or is it that safety testing is an issue or there are conflicts between the founders is it that facilities are there manufacturing equipment facilities are not there or finance is not there I mean or anything else that you feel that important I just want to leave you with this question and we can see what answers you give and I'll leave you with one last slide about this is the content information if you want to look up betik.org you can look at it so that is the ISO certificate for our lab there is a book called medical device innovation where we have written stories of these 16 startups but book is right now auto print although the e-version is there on Amazon the hard copy is sold out we are writing the second edition of that hopefully early next year it will come out and then you have few other places where betik as a story betik as a best practice or betik startup companies as as a case study by the way one of the betik startups is becoming a Harvard case study which is one very rare distinction honors for an Indian company to feature in Harvard case study like that so this is our take on the connecting research also with education and that's why we call it as a reinvent reinvent yourself reinvent the country reinvent academic environment but I think we have a long way to go to do this in the next 5-10 years if you get it right I think our country can be really very not only economically powerful and create a good standard of living but also create a good quality of life so I think we have to marry these both standard of living with quality of life and we can do that I think we all will be very very content and fulfilled nation as a but thank you very much this is again very very inspirational you know to of course all our students including me your last slide was fabulous about you know what we set out as a goal in life that was really nice so they are mentioning that you know one should be able to see the goal of a start like in front of one's eyes so that he she may get a proper encouragement to run that is one student the other students saying academic mindset setting a rigid goal is what another student is saying and then you know and one student saying is an academic mindset of the student also at the same time perseverance of you know people about students outside the perseverance of people about students outside the institute so they think that the students in the I think the person they might have meant also perception of people about students could be perception did you mean yes yes yes yes from another national university they also have some very very interesting projects going on in the innovation studio so now you know long in doing innovation we are doing entrepreneurship right I want to make couple of comments here one is that now the process has opened up the areas one of the areas which is in the opinion going to be very hot in five years time so if it's a good time to put your mind and feet firmly on the ground on that and pun intended this is going to be a great tech the lot of people now I'm seeing that very good IT engineers thanks to pandemic and thanks to this online sessions like this they are now you know can you believe in cities like Bombay and Bangalore and Pune and other cities the house prices and rental have come down which means the people are going back to their hometowns when they go back to hometowns they all have their independent houses and kitchen gardens they are looking at the possibility of creating their own kitchen gardens every month you know egregate in general and egregate for professionals kitchen gardens in particular are such a hot area that I think if you put technology into that that is one one one great thing that's one point I want to tell you the second point I would like to add that yes the perception about people in general you know it used to be parents first the parents who say why are you doing innovation entrepreneurship get a salary job, play safe, get married you know things like that now I can see many parents and I'm not talking about IT students many other parents are saying ok one year you do innovation entrepreneurship we will not come in the way if you want even 5,000 rupees we will give you you know for your basic running costs if you succeed no one looking like everyone is happy about it if you fail in entrepreneurship believe me the kind of things that you that you learn in that one year of failure the kind of confidence that you get the kind of capability that you build makes you enormously valuable to the next company that hires you so there is no failure in entrepreneurship you either succeed or you learn right and that is now being understood even by parents so they are also encouraging the children to do that I want to add one third point you are from IT Hyderabad you are from IT Bombay and so on many other 16 startup companies that have showcased you 70% of the founders are not from IT they are not from middle class families they are from low middle class or poor families ok small towns rural areas the kind of passion the perseverance now I will use the word perseverance they stick to the problem they understand the problem they see the problem being faced by their own family or neighbors or their local community they want to solve it no matter what that kind of commitment actually takes them over multiple hurdles including the hurdle of communication they don't even know how to talk properly but the moment they start speaking everyone in the room knows that this guy is someone to bet on it doesn't matter whether they can speak or not the passion shines through in their eyes and gestures and so on just remember that when you pick partners pick partners who are themselves going to be committed to the problem the goalpost is not a startup company or money or whatever or a unicorn which is fashionable these days but to solve the problem big problem for a large number of people everything else will follow difference so I wanted to ask if Betik just deals with the physical health care of a person or it also deals with the mental health care because that is again some different domain that you will touch so Betik does not deal with this or that Betik deals with doctors and innovators who want to solve the problem so we have seen we have done head to toe so there was a recent company who came and said that can you develop a a deep brain deep brain stimulator or deep brain some device okay now we have no clue about deep brain or no clue about it but then the company also brought connections to the neurologies and we have our own connections in all the hospitals so we went around saying anyone is interested in that problem so we got that and we also need someone who will work on the problem for next 2-3 years so we reached out so through these Meda hackathons and MediCants we get people right and someone gets interested in the brain problems brain cancer problem so our always our goal is to build a team of a doctor and an industry in this case and an innovator who want to solve a problem for us it does not matter what problem is solved we are not particularly into we are domain agnostic we don't have a problem in any domain as long as problem is good enough and the team is there value proposition is there and it is possible to put it in a market in the next 2-3 years you saw my 4 criteria right yeah yeah in fact again it is the commitment and the perseverance and of course the passion which you come in and you are ready to commit to work when you ready to work things happen there is a possibility in every problem we see a solution we have learned all the dimensions of how these things happen at multiple levels at a personality level you talked about how they need to commit themselves and at a methodology level we have the 4Ds and it is really wonderful thank you so much Ravi for this lecture fantastic thank you for inviting all the students everyone in the room we look forward to you in finding your mission and may you succeed in that even if some good news that comes out of your life of this whole thing we are always happy to hear that is our true currency of teachers it is not a salary but what our students do is what makes us really rich in that sense thank you very much good day to all of you