On January 3, 2017, the principal investigator at the Biomedical Engineering and Technology Innovation Centre (BETIC), in India’s Indian Institute of Technology Bombay was considering the next steps for a newly developed product. BETIC was a multi-disciplinary and multi-institutional translational research and development network in the medical technology sector that acted as a running partner for innovators and entrepreneurs. The core vision of BETIC was to create global success stories of indigenous medical devices by providing systematic guidance and support to innovators developing medical devices. The principal investigator and his team had developed an indigenous and innovative smart stethoscope from the ideation stage to a functional prototype. The next critical challenge was how to commercialize the product and ensure that it could deliver the maximum amount of social impact.