Tag Archives: health 2.0

Top 10 Messages from Silicon Valley Health Tech Investors

Top 10 Messages from Silicon Valley Health Tech Investors

Text and photo: Eeva Kiuru, Oulu Wellness Institute

Today was the third and last day at the 7th Annual Health 2.0 Fall Conference in Santa Clara. The day was full of demos and developer challenge announcements. Also, the winners of the Nokia X Prize Innovation Challenge were announced and rewarded.

We are truly witnessing amazing progress in the field of combining life science with mobile technology.

My focus today was on investors and their advise to health tech entrepreneurs in the crowded health tech space.

Here is top 10 take home messages straight from Silicon Valley Health Tech investors:

1. Focus on big enough health challenges and address them with new technologies.

2. Help get doctors in proper use – don’t try to replace them.

3. Choose carefully what space you are in. The healthcare market is very segmented and the smaller startup you are the better you must choose your niche.

4. Revenue is the best format of funding. Customer is the best possible investor.

5. Bootstrapping forces your business to discipline.

6. Healthcare convenience is a strong selling point.

7. Consumers will drive medical community to transform.

8. Get proof of concept and evidence with a couple of customers. Without that your idea is not valuable.

9. Accelerators provide great environment, but you should vet them carefully to make sure they offer what you really need (relevant client contacts in your segment, space, mentors, funding).

10. Make sure you help customers to save money or make money. Preferably both. In the US,
improving quality alone does not rank high on the value proposition list.

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Cream of the Launch Crop at Health 2.0

Cream of the Launch Crop at Health 2.0

Text: Eeva Kiuru, Oulu Wellness Institute

The health tech scene is heating and every year there are hundreds of candidate startups running to become the next big health innovation and the best of the Health 2.0 show.

One selection was made today by the Health 2.0 audience. Here are the startups that made it to the Annual Health 2.0 Fall Conference shortlist and Launch main stage:

1. Smart Patient – patient experience and satisfaction service

2. Intellictyx – Intelligent referral service

3. Genetrainer – Gene-based exercise guidance

4. Medlio – Virtual health insurance card focusing on cost transparency

5. Involvecare – Service to get involved with caregiving

6. Wimty – End of life care decision platform (health advocate, life-sustaingin treatments, pain management, wellbeing, final breath) with help of digital process and power of video

7. Recovery record – eating disorder management tool

8. Liviam – Support team platform for hospitalized loved ones

9. Mevoked – Mental health and wellness tracking tool

10. OMSignal – Lifestyle tracker shirt focused on ABC of wellness (Activity, Breathing and Cardiac)

The winner of the Launch competition was voted online by the live audience:  OM Signal Lifestyle tracker shirt.

Show your delta

Show your delta

Text and photo: Eeva Kiuru, Oulu Wellness Institute

A team of Finnish Health Tech Startups and support organisations are gathering this week in Santa Clara Silicon Valley for the 7th Annual Health 2.0 Fall Conference.

Special Team Finland program arranged by Tekes and Sitra, kicked off yesterday evening with a team gathering where an experienced group of Silicon Valley Finns (Michel Wendell, Hartti Suomela, Ari Tulla and Nelli Lähteenmäki) shared their insights and secrets to our group.

One thing that grabbed my attention was discussion about delta.

When meeting investors in different matchmaking and pitching sessions, it is important to make a good impression. Who are you ? What are you working on ? What is so special about your new product ? What is your value proposition ? These normal things.

If you are lucky – and if you have done your homework – you may get a chance to continue the talk deeper in your business case.

But according to the Valley Experts, what happens when you meet next time with that same person,  is far more important. What have you done since you last met ? Have you got new clients ? Have you been featured in media ? Have you made improvements to your product ? Have you got funding?

This is delta. This is progress. By showing investors evidence of what you have done since last time you are building trust and far more likely to end up having serious funding discussions.