Low investment in healthcare, lack of hospital beds and a shortage of medical personnel are only a few of the problems plaguing Nigeria’s healthcare system. Local health tech entrepreneurs are building solutions to address these problems. However, there is still a long way to go.
How do aspiring healthcare entrepreneurs decide on what problem to tackle? For existing entrepreneurs, how do they adjust to market realities and build more solutions that consumers are willing to pay for?
The second panel session at TC Townhall: The State of Health Tech in Nigeria examined the critical factors entrepreneurs need to keep in mind when building new products or deciding on what healthcare problems to solve. The panel was moderated by Ngu Morcho of Yako Medical Africa. Other panelists were Ifeoluwa Olokode (Partnerships and Growth Lead, LifeBank), Dr Ola Brown (Founder, Flying Doctors Nigeria) and Desiree Craig, Technology Product Manager – Andela, previously Head of Product at Co-Creation Hub.
The panel highlighted three main pillars of innovation: people, growth and learning culture. Panelists communicated the importance of being flexible when faced with market realities. “Meet customers where they are and change their behaviours,” suggested Ifeoluwa Olokode. Desiree Craig encouraged entrepreneurs to experiment and stay open to learning new ways to operate. “While doing all the above, don’t run out of cash,” Dr Ola Brown emphasized.
Get our deeply researched report, The State of Health Tech in Nigeria, about the health tech industry and the innovative startups working to find tech solutions to Nigeria’s health-related problems.
Check out the rest of the panel discussion in the video below: