DaaS (Data as a Service) is the only way going forward to provide intelligence to Indian healthcare enterprises. This is given the cost of manually curated databases and consulting based decision support business models, said Dr. Gunjan Bhardwaj, founder and chairman, Innoplexus.
 
The DaaS engine with real-time data and insights along with an ecosystem of Continuous Analytics as a Service (CAaaS) applications will help enterprises make better data-driven decisions. Data analytics is going to grow at a tremendous pace in India and globally. DaaS and CAaS applications would eventually also empower start-ups in the healthcare space to create real innovations. Healthcare is one area that requires novel solutions for India, he added.

Innovation in India has to happen in healthcare! We need to empower physicians working tirelessly in rural and semi-urban settings as well as researchers to research as well as start enterprises in India rather than going abroad. The Government is playing a tremendous role in facilitating the same but the onus is on entrepreneurs like us. We are keen to partner with Government to leverage our platforms and technology to improve healthcare, Dr. Bhardwaj told Pharmabiz in an email.

The Germany-based Innoplexus with branches in Pune, helps life sciences companies generate actionable insights across pre-clinical, clinical, regulatory and commercial stages of a drug. The company uses tools like machine learning and artificial intelligence (AI) to break down and analyse multiple sets of data, to be able to provide simplified information to aid companies in decision making, he noted.

Innoplexus Data as a service platform, ‘iPlexus’ is providing real time decision support not only to big pharma but also research institutes, treatment centres, investors and a number of small biotech companies. This platform analyses hundreds of terabytes of data in real time for decision support from the external environment. It has also filed 5 patent applications before getting our first pre-series in December 2016.
 
The company recently raised pre-series A fund from HCS to help invest further in IP and building an organizational structure to address key markets. It is in talks with a number of interested investors which is expected to close next year. At its Pune, over 100 personnel are working  in data science, software development and natural sciences representing from the top institutes in India as well as globally.
 
“We have recently inked a pact with Regional Cancer Centre, Gwalior to provide physicians with real time intelligence on discovery as well as clinical development and to assist them with tapping the power of analytics.
 
iPlexus provides real time decision support and iPlexus is world's first real time Key Opinion Leader discovery and management platform. Various enterprise data sources such as ISS/IST databases, CRM etc. can be integrated into the platform seamlessly.
 
Artificial intelligence is critical to DaaS and CAaS or any business model that envisions complete automation. In India, we need innovation in automating diagnostics and treatment decision support for improving healthcare access. The challenge is to remain more agile than the competition and continue to scale fast, said Bhardwaj.