A Stage-Appropriate Framework for Startups

Key Learnings From Sumit’s Experience

• Steal like an artist. Draw inspiration from the successes and failures of other adjacent industries. Try to see the recurring patterns and simplify them to see if they translate to your domain, too. To nurture this framework, foster a collaborative environment where ideas are openly shared and feedback is actively sought.

• Each phase of your business, from invention to scaling, requires different resources and priorities. Be clear about what the moment needs and adapt your strategy and mindset accordingly. Set clear and stage-appropriate goals, raise the necessary amount of capital—without excess—and meet those milestones. When complete, adapt your mindset and strategy for the next stage. 

• Cultivate an inquisitive mindset and make listening an integral part of your company culture. Gather input from diverse sources to see patterns and make an informed roadmap. Choose partners authentically and invest time in those relationships to build trust, understand their goals, and support each other.

Sumit Nagpal has built and scaled five companies over the past 30 years, each progressively tackling more substantial problems at scale. He’s now the founder and CEO of Cherish Health, a startup developing intelligent radar-based sensor platforms to detect rising health and safety risks before they become life threatening or expensive emergencies. 

Sumit’s career began when he worked with Steve Jobs while he was at NeXT. Inspired by the experience, he embarked on a mission to solve significant healthcare challenges. At Accenture, he spearheaded their global digital health initiative. During a break between companies, Sumit realized the root of many healthtech problems: unexpected costs. Large companies from other sectors regularly engage with the healthcare market, which represents a significant portion of the GDP. However, they can’t sustain these initiatives because healthcare requires sustained commitment, sometimes over decades, to become a scalable business. Healthcare is hard – as illustrated by the example of Walmart Health's recent closure after the company lost a quarter of a billion dollars. 

During a brainstorming session with Accenture, Sumit realized a large chunk of healthcare expenses came from preventable ambulance rides, ER visits, and hospital stays. The question was: How could we detect rising health risks or emergencies at home before they escalate? Existing solutions often rely on wearables or gadgets that people have to remember to use and charge. However, the novelty often wears off, and the devices end up forgotten in drawers. Many people at later stages of life may not even remember they have them, much less choose to wear them or use them reliably. 

This is how Cherish started in early 2020. The company began developing in-home safety solutions – a radar-based sensor technology that could be placed discreetly in a room to monitor and detect emergencies. The product took four years to develop, and in 2024, the team introduced their flagship product, Serenity, at CES. Today, Cherish is a partner of leading companies in a variety of verticals including one of the largest home security firms in the US, Alarm.com, and a major telecommunications company, AT&T. 

Cherish's technology has wide-ranging applications, from monitoring pediatric asthma to supporting individuals with dementia—and the company is just beginning to explore its possibilities. Currently, Serenity is in production, with plans to ship by the end of 2024.