Sukkrit Goel | CannazoIndia

Did you know that India’s ancient Ayurvedic texts mention the medicinal properties of cannabis? This historical fact underscores the plant’s deep-rooted connection to Indian culture and its potential for therapeutic applications. Today, the Indian medical cannabis industry is experiencing a resurgence, driven by growing awareness and changing regulatory landscapes.
At the forefront of this burgeoning industry is CannazoIndia, a pioneering company founded by visionary entrepreneur Sukkrit Goel. With a deep-rooted commitment to harnessing the healing power of medical cannabis, CannazoIndia has quickly emerged as a leading player in the Indian market.
As the first medical cannabis company in India to be featured on the national stage of Shark Tank India, CannazoIndia is committed to creating awareness about the profound benefits of the cannabis plant, particularly in the treatment of ailments such as cancer, Parkinson’s disease, multiple sclerosis, and various neurological disorders.
Sukkrit Goel, the Designated Partner and CEO of CannazoIndia, brings a wealth of experience and a passion for innovation to the company. His journey began with a personal experience that ignited his determination to make a positive impact in the field of medical cannabis. Inspired by his own recovery from a serious health condition, Sukkrit founded CannazoIndia with the aim of providing hope and relief to those in need.
In the spotlight of our prestigious “The 10 Most Influential Entrepreneurs Of The Year 2024” edition is Mr. Sukkrit Goel, the visionary CEO of CannazoIndia. Join us as we delve into his inspiring journey, uncover the secrets of his entrepreneurial success, and learn valuable lessons from his leadership. Stay tuned for an exclusive interview that promises to provide insights and inspiration for aspiring entrepreneurs.

Prime Insights: Brief us on the origin story of the company.

I was living a normal life until a sudden AVM diagnosis turned my world upside down. After failing with conventional treatments, I discovered the healing power of ayurvedic vijaya leaf paste.
Inspired by my recovery, I met Kartik, a biomedical expert, and together we founded CannazoIndia. Kartik focused on the technical aspects, while I handled the business side. Arzoo, with her research background, joined us later, bringing expertise in cancer research.
Our combined efforts have led CannazoIndia to become a leading provider of high-quality medical cannabis products, offering hope to those in need.

Prime Insights: How have you kept a balance between your personal life and professional one?

Maintaining a balance between personal and professional life is often difficult, but in my case, I have not faced much difficulty in achieving this balance. One of the most important reasons for this is my fiancée, Arzoo. She is an integral part of the company, having helped me from the beginning with my R&D, and she continues to support me, which allows me to maintain a work-life balance.
A strong team is key to work-life balance. My team, including Kartik, Anubhav, Michelle, and others, has been instrumental. Their support, the support from my parents, particularly my dad, who has guided me in the business and supported me at every step, has been invaluable.

Prime Insights: Being an entrepreneur, is your story of struggle any different from others?

My entrepreneurial journey started early and was filled with challenges. Introducing our product, securing licenses, and building a talented team were significant hurdles. We also faced the challenge of setting up our factory simultaneously. We had to juggle factory operations, product quality, and marketing, but we persevered and overcome these obstacles and delivered high-quality products.

Prime Insights: What kind of clients do you serve? Any special mentions?

Our client base spans the pharmaceutical, nutraceutical, and healthcare sectors. We serve pharmaceutical companies, nutraceutical businesses, hospitals, doctors, and
individual patients. Our ability to cater to both B2B and B2C clients sets us apart in the industry.

Prime Insights: How do you keep up the pace with the changing market trends?

We stay ahead of market trends through our dedicated R&D team and factory. We also collaborate with external institutes. While our industry has a slower pace of change, we still monitor market developments to ensure our products remain relevant. The longer shelf life of medicines makes the market more stable compared to other industries.

Prime Insights: Do you believe R&D is essential for the growth of the company?

Yes, I absolutely believe that R&D is critical for our company’s growth. Medical cannabis has over 150 potential applications, and research is still in its early stages. We focus on exploring the full potential of this plant, from its medicinal properties to its use in sustainable materials.
There is THC for cancer pain management or palliative care. Then there are cannabinoids like CBG, CBC, and CBN, which are being researched for sleep-related issues. We also focus on the seeds, which are rich in Omega 3, 6, and 9, have more EPA than fish oil and contain 21 amino acids for producing vegan milk alternatives and protein products. The possibilities are immense, and that’s why R&D is key to our company’s growth and future success.

Prime Insights: How necessary do you feel it is to keep your team content? How do you ensure it?

A happy team is a must-have for company’s success. I believe in building a strong team with diverse expertise. Michelle, our patient care expert; Arzoo, our biomedicine and research lead; Kartik, our biochemistry specialist; and Anubhav, our versatile team member, are invaluable assets. I show appreciation for their hard work and avoid micromanaging. This approach fosters a positive work environment and drives company growth.

Prime Insights: Who do you look up to, and what do you convey further to the ones who look up to you?

I look up to my Nani, Shri. Rani Poddar, who was an incredible force in her lifetime. Coming from Kanpur and marrying young, she built a powerful career as a government contractor and made a huge impact through her philanthropy, like establishing 11 water fountains across Bombay to provide clean drinking water for those in need. Her legacy inspires me, and I aim to carry it forward.
To those who look up to me, I would say, if you have an idea, don’t wait. Just start. You’ll never know if something works unless you give it a shot. There will always be doubters, but trust your vision and push forward regardless of the background you’re coming from. Your passion and determination will carve the path to success.

Prime Insights: What message do you want to give to those entrepreneurs who give up on their dreams because of some stereotypes?

To entrepreneurs feeling discouraged by stereotypes, I say: don’t give up. Today, with the opportunities available, such as collateral-free loans introduced by PM Modi’s policies, it’s easier to start than ever before. Focus on your skills, not just capital. When I started, I had just ₹10 lakh, but many businesses can be started with much less. It’s about drive and perseverance, not societal pressures.
Success may take time, but the rewards can be substantial. Where someone with a job might steadily reach ₹15 or ₹20 lakh a year by 35, a successful business can generate significantly more—maybe even ₹1 crore or more.
Evaluate your risks and be prepared to pivot if needed. The skills you gain as an entrepreneur are valuable assets. Keep pushing forward and let your potential shine.

Prime Insights: What does the company hold for it in the future (plans)?

Our vision is to improve the quality of life for those with chronic diseases through holistic care and proper nutrition. We plan to create a platform for individuals with conditions like autism, epilepsy, and cancer pain. We also aim to expand into new markets, particularly Africa and the UAE. Our long-term goal is to establish a holistic wellness center in India offering alternative therapies like cryotherapy, medical cannabis, Ayurveda, and ozone therapy.

Prime Insights: What milestones and achievements does the company boast of?

Cannazo India has achieved several milestones, including being a Shark Tank finalist and obtaining a manufacturing license. We’ve conducted clinical studies, partnered with CSIR, and witnessed remarkable patient success stories. Our patients, including cancer patients achieving remission and children with ADHD and autism showing remarkable improvements; their positive outcomes are our greatest achievements.

Prime Insights: How are you giving back to society (CSR)?

Our company, Cannazo India, gives back to society through various CSR initiatives under a trust established by my Nani named Puncham. We focus on addressing the need for clean drinking water by building water fountains across the country. Additionally, we provide scholarships to students in schools and colleges, including HR College, ensuring access to education for those lacking financial resources. Our major aim is to continue expanding clean water access and supporting education for underprivileged children.

Prime Insights: Lastly, is there a message you would like to give to Prime Insights readers?

I believe it’s time to break the stigma around medical cannabis. It’s a natural substance with immense potential for healing. Our bodies have an endocannabinoid system that relies on CBD, found in medical cannabis. India has a rich history with this plant, and it’s time we embrace its benefits. Let’s see medical cannabis as a valuable tool for supporting our well-being, rather than a negative stereotype.