IIT-Bombay Alumna, Greeshma is the co-founder and Chief Operating Officer of Medprime Technologies. In her role at the company, she oversees fundraising and investor relations while leading the sales and development teams as well. Currently,
In a conversation with Women Entrepreneur Review Magazine, Greeshma talks about the evolution of medical equipment market, highlighting the challenges faced by women founders in the medical equipment industry and strategies for their growth.
Read the article to know.
How do you see the current medical equipment market evolving? How is women-led innovation blending advanced technology with real-world healthcare needs?
The market is at its peak right now. Several of the common issues are being addressed by women-led initiatives. There's growing confidence among investors and increasing policy support from the government. For instance, women-led startups in India have raised over $970 million under the 30-30 initiative, reflecting a strong and positive trend.
Numerous initiatives—both governmental and private, including those from funding institutions—are driving reform. There are also increased incentives in R&D, enabling companies like Medprime to create and scale their solutions. This sector is experiencing significant growth, driven by innovation and leadership from women entrepreneurs. What was once optional is now becoming essential to fostering inclusive innovation and national development.
Women entrepreneurs in the medical sector often struggle to secure funding due to various factors. What systematic changes could better support their growth?
Even when women come from strong health or clinical backgrounds and bring innovative ideas with real impact, ventures led by them often face unconscious bias. This isn’t just from investors, but also around the perceived commitment, goals and potential of the company. That’s a major challenge.
There’s also limited access to decision-making circles, key contacts, and networking opportunities. Additionally, women-led startups may be subject to greater scrutiny during the due diligence process.
Medtech itself is a tough sector, long gestation periods, extended R&D timelines, and complex regulatory processes. Navigating this landscape is already challenging, and it becomes even tougher for first-time founders, especially women. Even with a solid idea and the right background, gaining traction can be difficult. There’s often a bias toward backing those who are already proven.
In terms of systemic changes, some progress is underway, but more is needed. We need medtech-focused funding programs that specifically support women entrepreneurs. Government and institutional grants should provide more support, through non-dilutive funding like non-equity grants, recoverable or interest-free grants.
Investment committees should be gender-balanced to help eliminate unconscious bias. Finally, mentorship networks must include strong women leaders who can provide guidance, share experiences, and open access to investors, advisors and decision-makers.
How can women founders and leaders in technical roles ensure their ideas and expertise are balanced in shaping key products and business decisions?
Being a technical leader or leading a company isn't just about your gender or subject-matter expertise. It's about much more than that. You need to use your knowledge and expertise to guide the company, build trust within your team, with users, and collaborators, and demonstrate strong decision-making capabilities. You must be forward-looking and make decisions that create long-term impact.
To build trust and loyalty, whether from your team or customers, you must establish credibility in both what you're developing and the impact you're aiming to create. A deep understanding of the user experience and market is crucial. But it’s not enough to just have that knowledge—you must speak about it. Only when you share your insights do people recognize your expertise. That visibility helps build authority within the team and among business users or customers.
Leadership is also about strategic communication. You need to clearly explain what you're working on, no matter how complex or technical it is. Simplified, clear communication helps others understand the problem you're solving and the impact of your work. This applies to everyone—investors, collaborators, users, and your own team.
You can’t wait to be invited into conversations. Especially for women, it’s important to proactively claim space, join discussions, and contribute—whether it’s about product development, regulatory strategy, or user feedback. Active involvement is essential.
A strong internal and external network is also key. Whether it's with colleagues, junior team members, or leaders from other companies or fields, building connections ensures your voice is heard and included in decision-making and planning.
Many people may have the expertise and capability, but visibility, confidence, and assertiveness are what build credibility and leadership.
How can women leaders help create medical devices that better meet the health needs of different genders? How can their perspectives make these devices more inclusive and effective for everyone?
This is a very topical issue—women have historically been excluded from most medical research studies until quite recently. Much of the research, drug testing, and medical data available today has been based on male bodies. To change this, women need to be involved in the design and development processes.
Having experienced exclusion firsthand gives women a unique perspective and the empathy needed to understand gender-specific health needs—needs that have often been overlooked in existing products. It's often through the absence of something that we realize it's missing. Those who are content with the status quo seldom innovate, while those who have been deprived are more driven to bring change.
When women are part of the creation process, the conversation becomes more inclusive. They bring insights from patient experiences—such as accessibility, usability, and contextual needs.
They also ask different and important questions like will this work for different body types?; Does it consider hormonal variations?; Does it account for different pain thresholds?; Is it intuitive not just for male users, but also for female patients and healthcare workers?
These considerations lead to more holistic innovation. Women also have greater awareness of the gaps in women’s health—conditions that are often misdiagnosed or delayed, particularly in gynecology. Their lived experiences help identify problems that need urgent solutions and give them the foresight to drive innovation in under-addressed areas of healthcare.
What are some effective strategies women leaders use to maintain progress and motivate their teams in the medical equipment manufacturing industry?
Most effective leaders today balance precision, efficiency, and their team’s overall health and wellness. Collaborative agility is especially important because work is often done by cross-functional teams—not just one person or department. These teams include individuals from different disciplines and experiences, allowing for richer input and faster innovation. This setup helps identify potential challenges early and determine what might work or not. It also enables quicker pivots or changes when needed.
Another key aspect of leadership is empathy—something many women naturally bring to the workplace. An empathetic leader understands what their team members may be going through, whether it’s mental health struggles, physical limitations, or psychological stress. This kind of leadership empowers teams to voice their concerns, seek support, and find solutions. Ultimately, it boosts both wellness and the speed and quality of innovation within the organization.
LAST WORD: Message for Aspiring Women Leaders
For most people, entrepreneurship is the path not taken. If there’s no path, you have to create one—and maybe others will follow. You need to challenge the norm and make a breakthrough, especially in healthcare technology, where thinking differently is essential.
The challenges are many. Tech, particularly in health, is capital-intensive and requires a long-term commitment. It’s not like launching a simple app—you must navigate regulations, and your product must be thoroughly tested before it can be used.
That’s where your unique perspective, ability to ask the right questions, and drive make a difference. You need to be clear about your purpose and surround yourself with people who share that vision. Once you find them and team up, speak up. Share what you're building, be bold, take your place on the stage, and make your voice heard.
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