Digital Health Entrepreneurs Share Innovation Challenges
Disruption and convergence are widely touted terms among digital health advocates who view some of the technologies coming to market as a way to improve healthcare delivery, boost adherence and make communication easier.
But the flipside is that entrepreneurs positioning themselves as disruptors or who have developed technology that straddle a couple of industries can find it challenging to convince investors to back their businesses. There’s also the risk that entrepreneurs are too early for the kind of cultural change their would-be customers are willing to make.
Some digital health companies shared their insights at a recent healthcare conference held by University of Pennsylvania’s business school, Wharton. Patrick Rogers, chief marketing officer for Ayasdi, which produces healthcare analytics tools, said it’s very hard to bring in new technologies that disrupt the way healthcare professionals do their job. “From a health IT perspective, we have to show that new paradigms of care can be substantially improved without too much disruption.”
Another challenge is how to approach investors at the early stage when a company is pre-revenue. As Daniel Schacter, CEO and co-founder of Jintronix put it, it becomes a chicken and egg issue. If a company can get the funding they need to do studies that generate data that demonstrates proof of concept, then it becomes easier to attract investment. But finding seed stage investors is tough. Angels are an important source of that seed stage funding.
ironSAGE helps young innovative companies to acquire enterprise customers and generate revenues – making it easier for them to establish market credibility and attract investment.
Source: Original article written by: Stephanie Baum
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