Few would doubt Goa’s image as the creative capital of India, with the emphasis placed on boosting startups, offering an environment fostering innovation, innovating market-driven solutions, and attaining a prominent place in global competitiveness. The State is actively investing in digital infrastructure, industry-academia collaboration, and startup-friendly policies to create a thriving startup and product development ecosystem. Emerging on the scene is an inspiring success story – that of Molbio Diagnostics Limited, Goa’s first startup to achieve unicorn status, revolutionising molecular diagnostics with its Truelab Real-Time Quantitative micro PCR System.
Speaking to The Goan, Sriram Natarajan, founder-director and CEO of Molbio Diagnostics, shares why traditionally molecular testing required centralised labs, causing delays in treatment, and how his compact, battery-operated solution is bringing point-of-care diagnostics to primary health centres and rural communities, transforming accessibility. Molbio’s contribution extends beyond its flagship product, as the company has launched EDGE, a scale-up partnership programme that supports MedTech start-ups and SMEs, helping them navigate regulatory challenges, market access, and commercialisation. In its first cycle, six companies participated, with one having received mentorship to scale globally, which itself is a strong testament to Goa’s potential as a health-tech and innovation hub.
With over four decades of experience developing, manufacturing, and marketing diagnostic devices and kits, Sriram has been creating world-class testing devices for Indian and international markets. A BSc in Botany from Delhi University and an MSc in Plant Physiology from Tamil Nadu Agricultural University in Coimbatore, Sriram shares that his interest in diagnostics grew while pursuing a PhD programme at Delhi University. “During my research, I became interested in Radio Immuno Assay technology and joined a programme at Bhabha Atomic Research Centre for further studies. This led to an interest in the field of human diagnostics. And from here onwards, I entered the field full-fledged, and there was no looking back after that,” shares Sriram, founder-director and CEO at Molbio Diagnostics.
His journey in the chosen field continued for over three decades before he founded Molbio Diagnostics, one of India’s leading healthcare companies in the In Vitro Diagnostics (IVD) segment, manufacturing the renowned molecular diagnostic platform Truenat® Real-Time PCR. However, to reach here, he had to take baby steps, beginning with Behring Diagnostics, a division of Hoechst India Ltd (now Sanofi). At Hoechst, he was responsible for technical marketing of a new range of diagnostic tests. After Hoechst, Sriram joined Shree Krishna Keshav Laboratories, where he set up a greenfield diagnostics division. He set up manufacturing lines, as well as led the sales and marketing for various diagnostics products. It was in 1990 that Sriram decided to set up his first company, Tulip Diagnostics, along with two friends at Verna Industrial Estate in Goa.
Soon, Tulip became India’s largest IVD reagent company and was acquired by US-based PerkinElmer in 2017. In this period, Sriram was collaborating with Bigtec on R&D towards an innovative point-of-care molecular diagnostics system. In 2010, he joined hands with Chandrasekhar Nair to form Molbio Diagnostics with the vision of decentralising and democratising access to gold-standard molecular testing in India and globally.
Endorsed by WHO
“Molbio’s Truenat® Real-Time PCR is the world’s first molecular diagnostics platform endorsed by the World Health Organisation (WHO) for diagnosing TB at Point of Care. The device is positioned in over 8000 CHCs/PHCs across India under the National Tuberculosis Elimination Programme (NTEP), India, and is globally deployed in over 80 countries. It is expected to create a major impact in the global target to eliminate TB by 2030,” boasts Sriram.
Molbio continues to design and develop new innovative tools to take quality healthcare to the last mile. Sriram’s 40 years of experience in developing, manufacturing, and marketing diagnostic devices and kits, whilst catering to worldwide markets, has won several awards for his efforts and contributions to the healthcare industry over the years.
Ensuring industry-academia collaboration
Sriram points out that the government of Goa, along with leading institutions, is ensuring that innovation is embedded in Goa’s education system. Through Entrepreneurship & Innovation Labs, Goa University’s Department of Molecular Microbiology is introducing entrepreneurship-focused workshops, extending beyond biotech into AI, clean-tech, and robotics. Additionally, through Research & Incubation Support, the Goa University Research Park Unit (GURU) is nurturing research-driven startups in sectors such as bioengineering, agriculture, healthcare, and electronics, offering incubation, funding, and networking opportunities.
Startup & IT boom
For any startup or business to succeed, market access is critical. Goa-based companies like Molbio Diagnostics emphasise that high-growth opportunities lie in Tier-3 and Tier-4 cities, where demand for affordable, high-quality healthcare, digital services, and fintech solutions is rapidly increasing.
Recognising this, Goa is actively enabling startups to pilot and scale solutions through government partnerships. The Startup and IT Promotion Cell and the Department of Information Technology, Electronics and Communications, under the leadership of Rohan Khaunte, are actively enabling startups to pilot and scale solutions through government partnerships, points out Sriram.
The Goa Open Innovation Challenge 2025 is an active initiative where the government of Goa has sourced challenges from key departments including tourism, agriculture, waste management, and e-governance. Startups are invited to develop technology-driven solutions, with the opportunity to collaborate directly with government departments, receive a chance for pilot implementation, and work on real-world use cases with the potential for large-scale deployment.
Health-tech & innovation
With proactive policy support, world-class infrastructure, and a thriving innovation ecosystem, Goa is now emerging as the next big destination for startups, global investors, and a leading hub for health-tech and biotechnology. The State offers startup-friendly policies, research and incubation facilities, and high-speed digital connectivity, making it an attractive destination for entrepreneurs and investors.
Success stories like Molbio Diagnostics are paving the way for new industries, groundbreaking technologies, and global partnerships. With its unique blend of business incentives, research collaborations, and ecosystem support, Goa is set to lead the next wave of health-tech and digital transformation in India.
