Deepinder Goyal, the co-founder and CEO of Zomato, is also exploring new frontiers in HealthTech and aerospace, in what could potentially signify his entrepreneurship on the other hand. And that’s a big deal for Indian startup communities that one of the country’s most prominent technology entrepreneurs is moving into new industries with immense long-term growth potential.
Goyal has turned Zomato from an online restaurant discovery site over the last decade to one of India’s leading consumer technology companies. Under his leadership food delivery, grocery and quick commerce via Blinkit and various tech-based services blossomed. Now, reports suggest he is considering sectors which could form the next wave of innovation in India.
HealthTech is one of the fastest growing industries in India. HealthTech is being supported in the past years by increasing awareness about healthcare, digitalisation in telemedicine by telemedicine services, artificial intelligence and data-driven patient care. The sector is full of potential for improving healthcare accessibility, affordability and efficiency in India and industry experts see it as a high value area so that there is greater access to a health care package that is priced affordable and serves the health of the people, and can reduce waste in India.
Deepinder Goyal's interest in HealthTech comes at a time when healthcare systems worldwide are undergoing rapid digital transformation. AI, machine learning, wearable devices and digital diagnostics are among the technologies that startups are using to improve patient outcomes and improve medical services. A technology entrepreneur with knowledge of building scalable digital platforms could bring new ideas and operational knowledge to the healthcare arena.
Likewise interesting is Goyal's interest in the aerospace sector. Historically dominated by government agencies and big industrial players, aerospace is becoming more accessible to private enterprises with technological advancements and policy reforms. India has been growing its space industry in a hurry in recent years and that is thanks to successful missions, the participation of the private sector and government measures to spur innovation.
The aerospace and space technology ecosystem of India has seen a number of startups that are working on the development of satellites, launch vehicles, space applications, defense technology and advanced manufacturing. In this space, especially with India's growing ambitions in the space sector, entrepreneurs and investors are really getting interested in this high-growth space.
Analysts believe that Goyal’s exploration of aerospace fits into a wider trend in which successful technology founders are looking past the traditional internet-based business model to new spheres with longer term value and a broader social impact. Many entrepreneurs believe aerospace, biotechnology, clean energy, robotics and healthcare are the next big innovation areas that will bring long-term value and impact on society.
There are no firm plans for investment/acquisition but there are signs that Goyal is studying these sectors and talking to industry experts. Such an approach is consistent with his long-term view of business opportunities and the need for scalable, tech-based solutions.
Goyal’s interest in HealthTech and aerospace may be a positive signal for investors and startup founders. His involvement may even invite more attention, funding and talent to these new sectors. And with his background in building and scaling one of India’s most successful tech companies, any future venture that he’s involved with, or that’s backed by him, will have a good chance of finding the market.
The development also shows how India’s entrepreneurial ecosystem is changing. Most of the startups in India have grown up with e-commerce, food delivery and fintech. Now, founders are diving into science and engineering, and long term investment in the deep-tech space.
The entrepreneurial world of India is moving towards a global innovation centre and entrepreneurs like Deepinder Goyal will play a crucial role in the evolution of emerging industries. As the investment model will go on that is not only in HealthTech but also in aerospace, but also through partnerships and collaborations, it is clear that India is more confident in building world-class companies beyond just the tech industry.
For now, industry experts will be watching Goyal's next move closely as he will be closely watched for the future of the company as a player in either space as it is well-established to both industry analysts are hoping Goyal would likely to spark a new wave of innovation and investment in either field, which will help to stimulate a new wave of ideas and investment in the country’s startup ecosystem.
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