Issue #7

📰 FRONTPAGE

Welcome to the seventh issue of Chronicles, your passport to the world of social impact, innovation & entrepreneurship.

In this fortnight’s rundown:

🧠 Vision-Founder Fit
💬 Low-Cost Diagnosis
👇️Adiuvo Diagnostics
🆕 Vive la révolution: Stay Tuned!

🧠KNOWLEDGE SPOTLIGHT

Vision-Founder Fit

🔑 In our previous article, we discussed the importance of problem-solution fit. Now, let's focus on another critical aspect of successful social ventures: vision-founder fit.

📝 What?: Vision-founder fit refers to the alignment between a founder's values, long-term goals, & the mission of their venture. It's about finding harmony between your vision for the world and the purpose of your organization.

🕵️‍♀️ Achieving It:

1. Reflect on your values & skills: Consider what drives you and what you hope to achieve in the long term. Ensure that you have the skillset to achieve them too.

2. Align your vision with your venture: Ensure that your personal goals and your venture's mission complement each other.

3. Seek feedback: Talk to mentors, peers, and advisors to validate your vision and ensure it aligns with your venture's purpose.

👌 Why It's Crucial?:

• Passion and Commitment: When your vision aligns with your venture's mission, you'll be more driven and dedicated to achieving your goals.

• Resilience: Challenges are inevitable in any social venture. A strong vision-founder fit helps you stay focused and motivated, even in adversity.

• Authenticity: Aligning your vision with your venture's mission fosters authenticity, crucial for building trust and credibility with stakeholders.

A strong vision-founder fit is essential for creating lasting social impact. When your values, goals & skills align with your venture's mission, you're more likely to build a sustainable, impactful organization that makes a real difference.

Facts & Figures

🔎Social return on investment (SROI) is a method of accounting for the social, economic, and environmental value created by a company.
💰Medulance, a startup providing emergency healthcare services has raised $3M in their Series-A fundraising.
📈Jal Jeevan Mission is a Government of India scheme to provide safe drinking to every rural household. By January 2024 over 142M households have benefitted from it.

💬 INNOVATIONS

Low-Cost Diagnosis: Tackling Healthcare Issues at a Cheaper Rate

🌍 What: Low-cost diagnosis refers to innovative, affordable medical testing and screening methods that enable early and accurate diagnosis of health conditions. These methods leverage advancements in technology, such as portable devices & point-of-care tests, to bring diagnostic services directly to patients. The promise of low-cost diagnosis is a transformative approach to healthcare to make medical services more accessible and affordable.

🌱 Why Embrace Sustainable Fashion?: According to McKinsey, the fashion industry emits about the same quantity of greenhouse gases annually as the entire economies of France, Germany, & the UK combined. We can mitigate these negative impacts by adopting sustainable practices and promoting a more responsible and circular economy.

💚 Benefits:

• Increased Access: Low-cost diagnosis opens doors to medical care for underserved communities, reducing health disparities.

• Early Detection: Affordable tests facilitate early diagnosis, improving treatment outcomes and potentially saving lives.

• Cost Savings: By lowering diagnostic costs, healthcare systems can allocate resources more effectively, benefiting both providers and patients.

📊 Industry Insights: According to Precedence Research, the global diagnostic testing market size was estimated at USD 210.55 billion in 2023 and is expected to reach around USD 264.12 billion by 2033. Even though this research talks about the whole market, considering the funding, innovation & necessity, the future is bright for low-cost diagnosis products.

👇️ STARTUP IN FOCUS

Adiuvo Diagnostics: A Startup Pioneering Low-Cost Diagnosis

As the need for low-cost diagnostics products picks up demand, 1 social impact startup is facing it head-on: Adiuvo Diagnostics.

🌱 Who: Adiuvo Diagnostics is an Indian social enterprise which leverages cutting-edge technology and creative design, to create affordable, easy-to-use diagnostic solutions that bridge the gap in healthcare access. It was founded by Geetanjali Radhakrishnan in 2015.

🔬 What are their products/services?

Their prominent product is Illuminate, a wound infection screening device that provides label-free, non-contact Gram Type Bacterial Recognition in under 2 Minutes. It’s a hand-handle device which uses machine learning & other advanced technologies to screen the infection & recommend adequate treatment. Numerous hospitals & NGOs across India use this product.

🏆 Success: The quality of their R&D speaks for itself as their research papers have found their way into numerous reputed journals & conferences They have raised over $2 Million to further their R&D and market.

🆕 SOCIAL UPDATES

Vive la Révolution: Stay Tuned!

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A surprise awaits you in May. Watch out for our social media handles for the latest updates!