"The journey of stitching your entrepreneurial ambitions is driven from fearless passion in pursuing your ideas. Persistence and resilience are key to staying motivated through the numerous failures and moments of loneliness you will encounter as you push forward to realize your dreams."
Introduction
Dr. Mohit Gupta is a visionary leader whose transformative contributions to healthcare, particularly in the fields of nuclear medicine and healthcare technology, have significantly reshaped global healthcare landscapes. With a career that spans over decades, Dr. Gupta has tirelessly worked to address some of the most pressing challenges facing the healthcare industry, from early cancer detection to the accessibility of life-saving diagnostics in underserved regions.
Driven by an unwavering commitment to the belief that quality healthcare should be accessible to all, Dr. Gupta founded Vitrana in 2014, bringing to life a dream that had been decades in the making. Under his leadership, Vitrana has emerged as a global trailblazer, revolutionizing pharmacovigilance, clinical trials, and patient safety. With cutting-edge solutions powered by artificial intelligence, automation, and advanced analytics, Vitrana has become a pioneer in ensuring that healthcare organizations worldwide can effectively manage safety, risk, and regulatory compliance.
Dr. Gupta’s passion for improving patient outcomes extends beyond his work at Vitrana. His groundbreaking efforts in nuclear medicine have brought about a paradigm shift in the accessibility of diagnostic technologies like PET-CT scans in low- and middle-income countries. Through his innovative approach to cost-effective cyclotron technology, AI- driven solutions, and strategic partnerships with academic institutions, he has made strides in filling critical gaps in healthcare infrastructure and improving early detection rates for cancer—a global health crisis responsible for millions of deaths each year.
"I remained a mediocre IQ student stood among top 20. I have remained shy and reserved but did have a knack to express my desires and deep understanding of a business venture using artificial British English accent. At least I remained popular among few not because of my capabilities but probably due to an impression of me being part of a influential extended business family."
Phase 1 : The Roots of Life
Dr. Mohit Gupta was born in 1975 in the small town of Narwana in Jind District, Haryana, India. Growing up in a proud, close-knit family, he was part of a community where most people made their living through farming. His family, however, had a strong connection to education. Dr. Gupta’s father was a respected lecturer at a government college, and education was seen as the key to standing out in their small town.
Dr. Gupta’s parents were committed to creating a good academic environment for local children. With the support of the Jain community and their friends, they started a small school with the goal of providing quality education in English. This school, which began as a small initiative, has now grown into an institution that supports over 500 students, helping many young people in the town to dream bigger and aim higher.
As Dr. Gupta grew older, he moved to the larger city of Chandigarh for his studies. His uncle and aunt, who lived in Chandigarh, welcomed him into their home and created a warm, supportive environment to help him adjust. However, the transition was not easy. Moving from a small town to a lively, modern city was a big change, and Dr. Gupta initially felt out of place. The lifestyle in Chandigarh was more polished and different from what he was used to, and the pressure to fit in and keep up with his peers was challenging.
Around this time, Dr. Gupta’s parents were looking for ways to improve their financial situation and eventually decided to move to Ghaziabad, an industrial town in Uttar Pradesh. Seeing an opportunity, Dr. Gupta also left Chandigarh and joined his family in Ghaziabad. This move opened the door to new experiences. His father had ventured into business for the first time by taking over a steel rolling mill, which was struggling to stay open. Dr. Gupta watched as his father faced many tough challenges, from managing finances and workers to dealing with a complicated bureaucracy. He saw firsthand how difficult it was to maintain cash flow in a business that required a lot of investment and how important it was to have support in times of hardship. Eventually, due to ongoing financial issues, the business failed, and the family struggled to meet even basic daily needs.
Phase 2 : Academic Life
In 1993, Dr. Mohit Gupta experienced a life-changing moment when he was accepted into the National Institute of Technology (NIT) in Kurukshetra. This was a dream come true for him, especially because he barely made it by just a few marks. Dr. Gupta joined the Mechanical Engineering program, and he was the last person to secure a spot in that field. This experience gave him a strong belief in the importance of luck. He realized that even the smallest margin in scores could determine his future. If he had scored just three marks less, he might not have been able to attend NIT or any of the other top colleges he had hoped for.
As a backup, Dr. Gupta had also applied to colleges in Bangalore and Chennai. This gave him the chance to make his first big journey on a train, traveling all the way to Bangalore. During this journey, he shared a third-tier, non-air-conditioned berth with students from IIM Bangalore. Dr. Gupta was deeply impressed by these IIM students—their confidence, charm, and knowledge made a lasting impact on him. From that moment, he set a new goal for himself: to one day become a part of IIM Bangalore.
The next four years at NIT Kurukshetra were some of the best and most influential years of Dr.Gupta’s life. This period was full of experiences that shaped his personality, values, and skills. One particularly memorable event happened during his second semester. There was a debate competition between teams from different states, including his home district of Jind, Delhi, Karnataka, and Maharashtra. For many years, the students from Maharashtra and Karnataka had won this event. Dr. Gupta wanted to participate, but he was nervous and unsure of himself, especially since the competition was an oral presentation with no written support.
Dr. Gupta’s time at NIT also awakened a desire to one day become an entrepreneur. He began to see that the seeds of entrepreneurship are often planted through small experiences and everyday observations. His years at NIT gave him not only technical knowledge but also a strong foundation of life lessons. He learned that it’s essential to have courage, to listen to others, and to respect different perspectives. These lessons shaped his ambition and gave him the drive to follow his dreams, knowing that success would require determination, openness, and continuous learning.
Phase 3 : First Step in Career
In 1997, Dr. Mohit Gupta started his career with Larsen & Toubro (L&T), a top company for mechanical engineers. This job was a dream come true and gave him the chance to start learning valuable skills. At L&T, his main task was to sell earth-moving equipment to mining companies and construction contractors. This was not an easy job; it required hard work, patience, and the ability to adapt quickly. The industry was tough, with lots of bureaucracy, challenging work conditions, and constant surprises. Dr. Gupta often compared the difficulties of this job to those faced by soldiers. No matter how well he planned, unexpected problems would come up, testing his ability to manage risks effectively.
One of the most important lessons Dr. Gupta learned at L&T was how to build relationships with banks and Non-Banking Financial Companies (NBFCs). He saw how vital these connections were for funding large projects. This was also his first look into the world of wealthy individuals willing to invest in new businesses or lend money at high interest. Some of these connections would later become important for his own business ventures. From this experience, he learned that an entrepreneur should always be open to building relationships with people from all areas of life. He understood that having a strong network across businesses, banks, government, and professional communities could be a huge asset in the future. Soon, Dr. Gupta got a chance to try something new. His father’s strong relationship with their extended family created an opportunity for Dr. Gupta to manage a steel business on his own. This opportunity excited him because he admired his cousin, who had modernized the forging industry in Ghaziabad, once a major steel city in North India.
However, this experience taught him an important lesson. He quickly realized that true entrepreneurship requires personal investment, or “skin in the game.” Although he had independence in managing the business, he didn’t have full ownership. His entrepreneurial spirit sometimes clashed with the company’s structured approach. He realized that unless a person fully accepts their role—either as an employee or a full owner—there can be conflicts. Eventually, this business relationship did not work out, and Dr. Gupta decided to move on.
Even though the opportunity ended, Dr. Gupta gained a lot of insight from the experience. He learned that being an entrepreneur means fully committing, investing oneself, and being flexible in tough situations. These early jobs taught him that challenges and setbacks are a part of success, helping him develop the skills and mindset that would guide him on his future path.
Phase 4 : The Dotcom Boom
In 1999, when the dotcom boom was opening up many new opportunities, a young man was at a turning point in his career. His job, which had once seemed exciting, no longer made him happy. So, he began walking through the streets of South Delhi, looking for a fresh start and hoping for a new direction.
One day, he saw a sign for a walk-in interview at a guest house. Curious, he decided to go in and made his way up to the second floor. There, he found a small group of energetic people – all young and full of ambition. They were former employees of a company called HCL, and with the support of a few HCL leaders, they were starting their own business. This group had big dreams, and their energy and passion reminded him of his own hopes and goals.
He felt an instant connection with them and decided to join their team. There was no salary offered for the first year, only a share in the company. Still, he took the chance and joined, knowing that this was his first real experience as an entrepreneur.
Unfortunately, things did not go as planned. The dotcom bubble soon burst, and many new tech companies, including theirs, struggled to survive. Without enough money to keep going, their company had to close down. Although the business failed, he walked away with something much more valuable – friendships and connections with some of the biggest names in the software industry.
Looking back, he understood that not every job or business adventure pays off with money. Some rewards are less obvious, like the friendships, industry contacts, and real- life experience in running a business. He realized that these experiences could be valuable in the future. This understanding was the first spark that ignited his love for entrepreneurship and helped him see that every experience has value.
Phase 5 : Seeds of Ambition
Dr. Mohit Gupta’s journey took an exciting turn as he moved to the United States, driven by his aspirations of building a successful career in a land filled with opportunities. He landed in New Jersey, which was home to a significant Indian community, especially the Patels. The environment was vibrant and full of potential, and soon, he was evaluating a variety of entrepreneurial opportunities. His mind raced with ideas—opening petrol stations, starting Indian restaurants, or even taking over motels. However, despite his eagerness, a crucial element was missing: capital. While he was skilled and ambitious, he did not have the financial resources to bring his ventures to life.
During this period, Dr. Gupta remained a trusted consultant for his management team back in India. He was assisting them in sales and was involved in strategic discussions for securing new projects. One of his most significant contributions was helping his management win a project to build an online health services portal. This project became a turning point for him, as it opened the doors to a new world of high-stakes business dealings and networking.
The project brought him into close contact with investors and entrepreneurs in the bustling city of New York. He travelled frequently with clients, attempting to secure funding for the health services portal, as well as exploring other business opportunities. Unfortunately, the timing was not on their side. The dotcom bubble had recently burst, causing venture capital to dry up, and many investors were cautious. As a result, despite his best efforts, securing funding became a near-impossible task, and the project never gained the traction it needed.
This phase marked a significant turning point in Dr. Gupta’s career. While he had always been intelligent and capable, it was these formative months in New York that helped him grow into the business-savvy, confident individual he would become. The experience not only enriched his understanding of the entrepreneurial world but also equipped him with the foundation needed to take on his next big opportunity. His confidence, matured outlook, and business acumen would prove to be instrumental in the challenges and successes that awaited him in the future.
After the dotcom explosion, Dr. Mohit Gupta returned to India, where he seized an exciting opportunity with a prominent Canadian consulting conglomerate. In this role, he played a pivotal part in transitioning large-scale engagement operations to offshore locations. This experience was instrumental in broadening his expertise in establishing and managing complex operations that supported global delivery models. It was during this time that he gained invaluable insights into the intricacies of global business operations and learned to navigate the challenges of managing diverse teams across different regions.
Phase 6 : Lessons in Corporate Wisdom
Dr. Mohit Gupta’s career took a natural progression as he moved from setting up Global Delivery centres to joining a leading retail banking software company. This was a significant transition that allowed him to apply the experience he had gained in managing large-scale global operations to a different but related sector. Retail banking software companies deal with technology solutions for banks, and Dr. Gupta saw an opportunity to grow and expand his knowledge in the financial technology space.
In his new role, Dr. Gupta was placed in Singapore to manage the quality transition process for the company. This meant he was responsible for ensuring that the company’s software and services met the highest standards of quality before being delivered to clients. During this time, he worked closely with some of the largest and most well-known global banks, which not only gave him deep insight into the financial sector but also helped him understand how the banking industry operates on a global scale. This experience helped him build expertise in both the banking and technology sectors.
- Building a Strong Network
While working in Singapore, Dr. Gupta took the opportunity to build a strong professional network. He interacted with top executives, decision-makers, and financial leaders from some of the biggest banks in the world. This allowed him to establish connections that proved invaluable later in his career. Networking with these influential people helped Dr. Gupta understand the challenges and opportunities within the banking sector and gave him a deeper understanding of how global financial institutions operate. The relationships he built at this stage of his career were important in shaping his future.
- Learning Corporate Governance
At the company headquarters, Dr. Gupta had the opportunity to learn about corporate governance—how a company is managed, how decisions are made, and how the board of directors oversees the operations. He learned how to balance the interests of different stakeholders, including employees, customers, shareholders, and investors. Dr. Gupta was exposed to how a publicly listed company operates, the complexities of managing large teams, and the importance of transparency and accountability in decision-making. This
learning helped him understand the corporate world from a much broader perspective.
- Mistake in Corporate Politics
Despite his success, Dr. Gupta made a mistake by getting involved in corporate politics. He chose to side with one leader in the company against another, thinking it would help his position. However, he soon realized that corporate politics could be tricky and dangerous. In the corporate world, alliances can shift quickly, and people who seem like friends one day can become adversaries the next. Dr. Gupta learned the hard way that making enemies or getting caught in office politics can have serious consequences. It led to a situation where he found himself on the wrong side of company dynamics, which forced him to leave the company.
- Value of Professional Distance
After this experience, Dr. Gupta began to value the importance of maintaining professional distance in all his relationships at work. He realized that a professional environment works best when relationships are based on mutual respect and trust, not personal feelings. Keeping things professional meant that he could avoid the emotional highs and lows that come with office politics, and instead focus on achieving his professional goals. He understood that professional relationships should be built on trust and understanding, rather than personal loyalty or conflict.
- Path to Entrepreneurship
Dr. Mohit Gupta’s professional journey was a steady evolution, one that shaped him into a highly capable leader. His early years in the business world taught him the importance of discipline, especially when managing a bootstrapped venture. With limited resources, mistakes were a luxury he couldn’t afford. Every decision had to be made with a clear focus on maintaining profitability and managing costs. Establishing a stable revenue stream early on was crucial, as it formed the bedrock for sustainable growth and long-term success.
Phase 7 : The Turning Point : Establishing Vitrana
In 2014, Dr. Mohit Gupta reached a pivotal moment in his life. After years of working in the corporate world, he found himself in a position where his self-respect was deeply hurt. He was unjustly held responsible for a failure that was beyond his control in his last corporate job. This experience was a harsh wake-up call, and it sparked a powerful drive within him to break free from the constraints of corporate life. His desire to prove himself, combined with his yearning for independence, pushed him to start his own venture. He realized that his frustrations could either hold him back or serve as fuel to pursue his entrepreneurial dreams.
Dr. Gupta knew from the start that having a strong team was crucial to his venture’s success. Even before a fully formed business idea, he understood the importance of surrounding himself with people who shared his vision. He was fortunate to find co-founders who believed in him and his leadership abilities. Together, they began brainstorming ideas and strategizing how to address the pressing business needs they had identified in the market. However, Dr. Gupta also learned a valuable lesson: a team’s strength lies not only in shared goals but also in their ability to weather the storms together. Unfortunately, over time, some co-founders left due to differing expectations about growth, financial rewards, and the company’s pace. This departure was a difficult lesson for Dr. Gupta, teaching him that partnerships in bootstrapped ventures should come with clear expectations and mutual understanding, especially when equity and risk are involved.
The departure of co-founders in the early stages of Vitrana taught Dr. Gupta the importance of setting clear, upfront expectations in a business partnership. He realized that entering into partnerships based on a quasi-sweat equity model—where contributions and compensation weren’t always defined—could lead to conflict and confusion. From his experience, Dr. Gupta now believes that co-founders must have explicit agreements on equity, risk exposure, and growth expectations. This ensures that everyone is aligned and committed to the venture's success, reducing the chances of discord as the business grows.
Dr. Gupta’s family had gone through financial struggles with a previous business venture, and this deeply influenced his approach to Vitrana. He understood that cash flow was the lifeblood of any business. During his first job in the U.S., he had seen firsthand how a private equity-backed company was burning through cash in anticipation of future growth, without any immediate cash flow to support it. This experience taught him a valuable lesson: success should not be based solely on projections of future earnings, but on building a sustainable business model with a strong cash flow from day one. Dr. Gupta's goal was clear—to create a business that was financially viable from the start, ensuring they never found themselves in the same situation as his family’s earlier failed business.
With a clear vision in mind, Dr. Gupta and his co-founders started the operations of Vitrana with limited resources. They focused on consulting engagements and used their industry connections to generate initial business. However, it wasn’t enough to sustain the company long-term. Recognizing a shift in industry regulations, the team decided to develop a product that could fill the emerging gap in the market. They didn’t have the luxury of large budgets, so they turned to other early-stage startups for help. By collaborating with them, they were able to ramp up the development process at a fraction of the cost. Every penny they saved was reinvested into making the product as viable as possible. The teamwork, resourcefulness, and dedication to making every dollar count were essential to their early success.
One of the most painful moments in Dr. Gupta’s entrepreneurial journey came during the second wave of COVID-19. The team lost a co-founder, a close friend, and someone who had been integral to developing Vitrana’s first viable software product. This software became the foundation of the company's success. The loss was deeply emotional, and it was a reminder of the fragility of life and the challenges that come with building a business. Despite the grief, Dr. Gupta and the remaining team members pressed on. They knew that the product they had built together had the potential to make a real difference, and they couldn’t let this loss derail their progress. This difficult chapter only strengthened Dr. Gupta’s resilience and determination to continue pushing forward, even when the road was uncertain.
Vitrana was built from the ground up, funded primarily through Dr. Gupta’s personal savings and loans against his family’s only asset—their home. For the first six months, the business operated on a shoestring budget, and Dr. Gupta poured every available resource into ensuring the venture’s survival. He was well aware that this was a high-risk endeavour, and it felt eerily similar to the situation his family had faced 28 years earlier when their own business had collapsed. But Dr. Gupta was determined not to repeat the same mistakes. His faith in the company’s potential kept him going, and when his initial funds ran out, he didn’t give up. Instead, he sought out alternative sources of funding. This led to him securing the first equity investment from an extended family member, which was nearly equal to his personal investment. This was a turning point for Vitrana, giving the business a much- needed boost.
Once Dr. Gupta secured the initial investment, the company began to gain momentum. The co-founders' vision attracted their first paying customer, which was a game-changer. Dr. Gupta had learned from his experiences that persistence, relationships, and a clear vision were key to attracting the right investors and customers. With this investment, Vitrana no longer had to rely solely on personal sacrifices and loans. It marked the beginning of a more sustainable path forward, where growth was directly tied to the company’s cash- generating capabilities, and the need for external funding was minimized.
During those first tough months, Dr. Gupta was not alone. His college alumni, maternal uncle, and cousin stepped forward, offering their support in both emotional and financial forms. This network became a pillar of strength for him, proving that no entrepreneur is truly self-made. The support from family and friends during the challenging early stages was invaluable. It not only provided Dr. Gupta with the resources he needed but also reinforced his belief that a strong personal network could make a significant difference when building a business.
One of the most important lessons Dr. Gupta learned during the early years of Vitrana was the importance of reinvestment. Instead of focusing on immediate profits, he prioritized reinvesting earnings back into the business to fuel its growth. This approach allowed the company to scale while maintaining control over costs and quality. By focusing on long-term sustainability and growth, Dr. Gupta ensured that Vitrana wasn’t just surviving—it was thriving. As the company gained success, they began diversifying their portfolio, with healthcare becoming a key area of focus.
In 2018, Vitrana ventured into the healthcare sector, focusing on nuclear diagnostics and therapy. This decision came about through a casual conversation about someone in the diagnostics space, which led to a deeper exploration of the opportunities in healthcare. Dr. Gupta saw this as a unique chance to leverage Vitrana’s capabilities in a new sector. The company developed a comprehensive model that integrated pharmaceuticals, hardware, software, and manpower. This new venture allowed Vitrana to differentiate itself in the crowded healthcare space, offering a unique value proposition that set it apart from other providers.
Looking back on his entrepreneurial journey, Dr. Gupta reflects on the key ingredients to his success: passion, persistence, and resilience. The road was not easy, filled with failures, emotional struggles, and moments of doubt. But through it all, he remained steadfast in his belief that Vitrana had the potential to succeed. The journey taught him that the most important factor in achieving success isn’t luck or timing, but the ability to keep going when the odds seem stacked against you. Passion for the idea, combined with persistence through failure, was what allowed Dr. Gupta to turn his dream into a reality.