Every week, Ambition A.M. passes the pen (or keyboard) to a founder eager to share the unfiltered stories fuelling Britain’s entrepreneurial spirit.
This week, we spotlight Sanghamitra Chakravarty, the founder of health tech platform InvictIQ on a mission to change the elderly care sector through the use of Artificial Intelligence.
After what seems to have been an inevitably challenging journey already, Chakravarty – who founded InvictIQ in 2021 with her sister – gives us a sneak peek into what she’s learned so far.
“The entrepreneurial journey is a marathon, not a sprint,” she tells us.
You might just need to find what it is that will get you to the finish line.
How do you measure and define success?
At InvictIQ, we define success not just by business metrics but by the real-world impact we have on the care sector. Success is providing care providers with the tools to save them time to deliver higher quality, more efficient care while alleviating burnout. It is giving families peace of mind knowing their loved ones are receiving the best possible care. Ultimately, success for us is measured by the lives we have touched and improved through our innovation.
How has your business shifted over time?
While our core mission has remained constant, InvictIQ has evolved significantly since our founding in 2021. We started by addressing basic compliance and administrative needs but quickly realised the transformative potential of AI and data. Our Audit on Cloud platform has grown into a sophisticated co-pilot, automating analyses and generating predictive insights. We have also expanded our impact from single providers to entire care ecosystems.
What do you consider the most important factors and influences shaping the future?
The ageing global population and increasing care demands will be a major driving force. Additionally, continued AI and technological advances will open new possibilities for improving operations and personalising care. However, one of the biggest influences will be the growing prioritisation of elderly care by governments and society – providing critical resources and policy support.
Another challenge lies in ensuring the leadership within the care sector reflects the diversity of the care workforce itself. Interestingly, while the care sector boasts a workforce – 80% of whom are women – leadership, especially entrepreneurial roles, have not always reflected that same level of diversity.
This lack of parity not only hinders progress but also goes against the spirit of UN Sustainable Development Goal 5 (SDG 5): achieving gender equality and empowering all women and girls. At InvictIQ, we champion SDG 5 and believe significant progress can be made to bridge this gap and build a more inclusive future for elderly care.
What advice do you wish you had when starting out?
The entrepreneurial journey is a marathon, not a sprint. It is filled with obstacles: funding challenges, product delays, and moments of self-doubt. For women in tech, these hurdles can be even more pronounced.
What I would have valued most is a strong network of experienced mentors who could offer guidance and support. Having a clear vision and unwavering belief in your mission is crucial, but surrounding yourself with the right people can make all the difference.
What was your biggest challenge and how did you overcome it?
Navigating trust in implementing AI for elderly care proved challenging. We prioritised building relationships and acting as consultative partners.
Additionally, we ensured our AI models were understandable, involving care experts extensively in their development. This approach emphasised that our solutions complemented rather than replaced human expertise. Ultimately, demonstrating tangible positive outcomes was crucial in establishing credibility within the sector.