MAM
Doceree to let companies to advertise on its platforms for free amid Corona lockdown
MUMBAI: Coming to the aid of pharma, medical and healthcare companies amid coronavirus mayhem globally, Doceree, World’s first Ad Exchange for branded Healthcare Professional Marketing, has said it will allow companies to advertise on its platforms for free and help them reach out to doctors uninterruptedly, an initiative taken to support them when their crucial workforce of medical and sales representatives are locked indoors.
The unprecedented COVID-19 pandemic upsurge followed by curfew, lockdown and ‘social distancing’ have almost put a pause in the lives of the people, posing serious challenges around. Despite putting sweat and blood round the clock to discover a vaccine or medicine for COVID-19 cure, medical scientists from across the world haven’t come out with flying colours yet.
Owing to strict ‘social distancing’, lockdown and stringent regulations coming up amidst COVID-19 scare for its prevention, pharma companies are unable to reach out to the doctors as their reps can’t get face time with them to provide them with the free flow of scientific information about the drugs. Neither can they organise CMEs that update physicians’ information domain.
Physicians need product information, KOL and Advisory Board content, services and support that reps provide. In such circumstances where there is a complete disconnect between the doctors and the pharma, a New York-based Pharma Ad-tech start-up Doceree (www.doceree.com) has extended its innovative wing, accelerating its launch in India as well as in the global market. It has created a digital Artificial (AI) based platform, which might be instrumental in bringing doctors and pharma together remotely despite Social Distancing and Lockdown.
“Of course, the outbreak of COVID-19 has been a sort of unexpected invasion over our personal and professional lives for several days and weeks. And the intensity of its ceaseless surge might prolong for a few months. In a situation where everything is locked in, HCPs can’t have the option to put themselves out of their duties. However, they need some support which they get routinely by the pharma companies. But the question is — how it could be done? Yes, this could be done through a technology-enabled remote working system that we call the digital medium,” says Dr Harshit Jain, Founder & CEO, Doceree.
He adds further, “We have developed an Artificial Intelligence (AI) based technology that uses data segmentation & analytics and offer the power to deliver sequential content, to promote the behaviour change needed to take the HCPs down the conversion funnel. This technology also understands doctors’ behaviour, so that one can connect with them better. Hence, in the situation when social distancing has been turning out to be quint-essential to fight the COVID-19 pandemic out, this is the only technology left for the pharmaceutical companies to reach out to the physicians.”
Despite willing to provide credible scientific information about the drugs to the doctors, the pharma companies are unable to reach them out as the COVID-19 pandemic is pacing faster. In such a situation, the digital medium is the only way forward wherein Doceree has been doing a marvellous job, influencing the US Pharma marketing & advertising with its latest digital modules based on AI. This technology has the potential to bridge the gap between the pharma and the doctors, paving the way for the former to reach out to the latter.
In the wake of the COVID-19 crisis, the specific module developed by the Doceree for the pharma companies that address the real problems they face in reaching out to the doctors has been largely superb. This innovative technology has been instrumental in bringing pharma companies back on track to reach out to the doctors in minimum resources with maximum credible scientific information. In India, more and more pharma companies are looking for the services provided by Doceree. Thus, digital medium singles out as the panacea for the prevailing problems as well as a new normal.
Starting a business is one of the most financially demanding transitions a person can make. In the early months, expenses are immediate and often unpredictable, while revenue streams may take time to stabilise. For first-time entrepreneurs, securing small business loans can feel like a paradox: lenders expect a clean financial track-record before approving a loan, but the business cannot establish that track record without funding. Understanding the start-up lending environment in India and knowing the realistic funding options make this process far less daunting, allowing entrepreneurs to plan strategically.
Why Traditional Business Loans Are Harder for Start-ups
Most financial institutions require a minimum business vintage of 2 to 3 years before approving a term loan. This is because the first two years of operations carry the highest risk of failure. For start-ups less than 12 months old, traditional loan options are limited, and lenders often ask for substantial collateral to mitigate risk.
The vintage requirement is not arbitrary. Businesses that have survived their first two operating cycles demonstrate market viability, which significantly lowers the lender’s risk. Until this milestone is reached, entrepreneurs often rely on bootstrapping, personal savings, or alternative financing to build a stable business foundation. Understanding this reality helps first-time entrepreneurs set practical expectations when seeking funding.
Government-Linked Schemes for Startups
India offers several government-backed schemes to support first-time entrepreneurs. One such scheme is the Pradhan Mantri Mudra Yojana (PMMY), which provides collateral-free loans for micro and small enterprises in three categories:
● Shishu: up to Rs. 50,000
● Kishore: Rs. 50,000 to Rs. 5 lakh
● Tarun: Rs. 5 lakh to Rs. 10 lakh
These loans are available through eligible lending institutions, making them suitable for early-stage businesses. For first-time entrepreneurs, a Mudra loan not only provides initial working capital but also helps establish a credit history. Repaying a Mudra loan on time strengthens the entrepreneur’s profile and increases the chances of securing larger loans in the future.
Using Personal Loans to Fund Early-Stage Needs
When business loan eligibility is not yet established, a personal loan can serve as bridge funding. These loans are assessed on the individual’s credit profile and income rather than the business’s financial history, making them accessible to salaried individuals or those with a strong personal credit record.
Personal loans have limitations: the loan amount is capped based on personal income, and the interest rate is typically higher than secured business loans. Nevertheless, taking out a personal loan during the first 12 to 18 months can provide crucial support as the start-up builds its financial profile. It is especially useful for covering immediate expenses such as inventory, marketing, or office setup costs.
Alternative Financing Options for Startups
For start-ups that are not yet eligible for traditional business loans, other financing options are available through financial institutions. Many lenders offer startup-focused or small-business loans designed for early-stage businesses. These loans evaluate the entrepreneur’s personal credit profile, business plan, and projected revenue rather than relying solely on business vintage. Financial institutions such as Tata Capital provide these loans with minimal documentation and fast disbursal, enabling entrepreneurs to manage operational expenses, purchase equipment, or fund early growth initiatives without pledging collateral.
Some lenders also offer flexible loan amounts, quicker approvals, and streamlined processes, making them well-suited for first-time entrepreneurs. Exploring these options early allows start-ups to access working capital while gradually building a credit history that will support larger loans in the future.
Building the Right Financial Profile Before Applying
For entrepreneurs planning to apply for a business loan in 12 to 18 months, the preparation period is critical. Key steps include:
● Filing Income Tax Returns (ITRs) consistently and accurately from the first year
● Maintaining a clean current account with regular deposits and no overdraft patterns
● Keeping the promoter’s CIBIL score above 750
Lenders assess start-ups by examining these signals. Entrepreneurs who maintain financial discipline from the start will have stronger loan applications after two years. Additionally, tracking cash flow and avoiding irregular withdrawals can further enhance the business’s credibility.
Collateral-Based Options for Larger Requirements
Startups requiring larger amounts beyond government schemes can consider loans against property. These loans allow entrepreneurs to access larger amounts of funding at lower interest rates, as the property secures the lender’s risk.
This option carries significant risk: using personal or family assets as collateral can result in a loss if the business does not perform as expected. Such loans should be considered only when the business plan is validated, the entrepreneur has clear cash flow projections, and the repayment strategy is realistic. Careful assessment of risk versus reward is essential before pledging assets.
Practical Steps to Strengthen Your Loan Application
To maximise the chances of approval, entrepreneurs should:
● Maintain accurate financial statements, bank records, and GST returns.
● Avoid over-borrowing; apply for realistic amounts that match business needs.
● Keep personal and business credit profiles in good standing.
● Explore lenders that offer startup-friendly products.
● Be transparent and complete in all documentation.
Taking these steps early ensures a smoother and faster loan process when the business is ready for formal financing. A well-prepared application reduces processing delays and demonstrates professionalism to the lender.
Conclusion
First-time entrepreneurs often face a funding gap in the early stages, but it is usually smaller than it appears. Maintaining clean banking records, filing ITRs consistently, and exploring personal loans, government schemes, and alternative financing options help build a strong financial profile. Entrepreneurs who plan systematically from day one are better positioned to access formal credit sooner, giving their start-ups financial stability through small business loans.
The ideal time to start building a credit-worthy business profile is the very first month of operations, not when applying for a loan. By understanding available funding options and acting proactively, first-time entrepreneurs can confidently apply for a business loan and set their businesses on a path to long-term growth.
