Peyush Bansal sees big opportunity in medical, sports, HR tech startups

Peyush Bansal, Cofounder and CEO, LensKart

Lenskart CEO and Shark Tank India judge Peyush Bansal has identified three top sectors as hotbeds for investment and innovation in Indian startup ecosystem--medical, sports, and HR (Human resource) tech.

“A lot of problems are still unsolved in India,” Bansal said at Startup Mahakumbh event in Delhi, outlining the pressing challenges within these industries and the vast potential they hold for entrepreneurial endeavors.

Addressing the challenges within the medical ecosystem, Bansal emphasised the lack of transparency in the process of admitting, treating, and discharging patients. He stated, "A lot of problems are still unsolved. Look at the medical ecosystem, for instance. The whole process is non-transparent."

Turning his attention to the burgeoning sports industry in India, Bansal underscored the increasing interest in sports activities, particularly following the COVID-19 pandemic.

"Sports is very interesting in India. Lifestyles are changing, people are getting more disposable income. Many are taking interest in activities like cycling, running and sports in general, post pandemic. There is a big opportunity here,” he remarked.

Additionally, Bansal identified HR tech as another promising area for startups.

He noted the shifting focus towards prioritising employees within organisations, stating, "For the first time, people are becoming important to organisations like they have never before. Businesses never cared about people so much."

Bansal highlighted the challenges faced by startups and large organizations alike in the realm of hiring, indicating substantial opportunities for startups to develop solutions for HR-related issues.