Health tech is a rapidly growing industry that involves the use of technology to improve healthcare outcomes and delivery. It encompasses a wide range of products and services, including telemedicine, digital health platforms, wearable devices, and artificial intelligence. Keeping the same thought in mind, a session on Health-Tech in the fast lane: A win-win scenario for Investors & Founders was conducted at Elets Global Healthcare Summit & Awards in Dubai. Edited excerpts:

Dr Anand Govindaluri, Founding Director & CEO, Govin Capital Singapore

The relationship between investors and founders is crucial for the success of any startup or business. It requires a fine balance between what the investor wants and what the founder wants to achieve through their vision. Understanding the founder’s mindset, value creation journey, and timeline is important to ensure alignment with the investor’s expectations, stated Dr Anand.

He said, “There are two types of investors – those who are focused on value creation and those who are focused on wealth creation. While creating an impact and benefiting society is important, the bottom line is what matters the most and is measured everywhere. Striking a fine balance between what the investor wants and what the founder wants is essential to create a successful partnership.”

When investing in a company, it’s important to understand what role the investor can play and what kind of strategic linkages and partnerships can be brought to the table. Partnerships with investors, big companies, academic institutes, and NGOs can create value and help expand the company into new markets.

“Partnerships play a critical role in creating value, and it’s essential to evaluate the intellectual property and technologies to develop a product that can generate revenues”, he concluded.

Dr Umair Mehmood, President, WePelicans Prospective

Technology is advancing at a rapid pace, and those who keep up with it are likely to benefit from the numerous opportunities it presents. As a representative of a private equity syndicate, it is essential to identify these opportunities and take full advantage of them, said Dr Umair.

He averred, “While we have discussed the role of analytics, Artificial Intelligence, and data in the past, there is a new concept called data cognitivism, which is gaining importance. This involves analysing the data produced using analytical skills, interpreting the insights gained, and translating them into actionable and commercially viable projects. These projects should then be given access to capital to ensure their success.”

He further added, “In the field of genomics, there is an explosion of information that can help us do things better. Precision medicine, predictive medicine, and preventive medicine are the three main areas of focus. In precision medicine, we can minimise the side effects of clinical conditions. In predictive medicine, we can match the structure of pathogens with the structure of a molecule to develop drugs that are more effective. In preventive medicine, we can use genomic studies to predict and prevent pandemics and other health crises.”

The key to tapping into these opportunities is to use technology to gain a tech advantage. This requires a deep understanding of the data and how to use it to make informed decisions. By integrating data from different sources, we can create a bigger and better picture of what is happening and make better decisions based on this knowledge.

Dr Raja Sekhar Gujju, Regional Head, Cognitivebotics MENA

The healthcare industry has been rapidly evolving in recent years, with the pandemic accelerating the adoption of digital health solutions. However, this rapid growth has brought about its own set of challenges, which can be categorised into two buckets: Technology Provider Challenges and Healthcare Service Provider Challenges.

He stated, “From the technology provider’s point of view, there are several issues to tackle. One of the key challenges is that many products have been rushed to market without proper scalability and architecture planning, leading to premature and unstable solutions. As the industry moves into the post-pandemic era, it is important for technology providers to focus on sustainable and scalable solutions.”

Another important challenge is structuring cybersecurity and data privacy issues. With the growing amount of data being collected, it is crucial to ensure that the architecture is structured securely and that data privacy is maintained.

“Finally, as the industry moves towards patient-led healthcare scenarios, it is important for technology providers to deliver meaningful and realistic feedback to consumers. Currently, many solutions only provide surface-level information, while patients want more in-depth analysis and personalised feedback”, he further added.

On the other hand, healthcare service providers face their own set of challenges. One of the biggest challenges is managing and sharing data. With data being a valuable commodity in the industry, providers may be hesitant to share data, leading to silos and a lack of collaboration. However, it is important to find ways to share de-identified data with regulators, insurance companies, and other providers to drive innovation and improve patient outcomes.

Jawad Jamil, GP & Co-Founder, Quantum Leap Ventures

He commenced by stating, “Our portfolio company based in France is a leader in the application of Artificial Intelligence in the pharmaceutical industry. They are revolutionising the drug development process by reducing the time needed for translational activities. This ultimately leads to faster drug pipeline deliveries. With the potential for even more innovative solutions to be discovered and developed, the future looks bright for the business.”

Additionally, he explained, “Creating a product roadmap and getting to the MVP stage takes around nine months. However, the work doesn’t end there. The first model is never entirely right, and you need to continuously adapt and fine-tune it based on market trends, customer feedback, and challenging initial assumptions. By the end of year two or around 18 months, you will have a good product that is ready to capture a significant market share. This stage allows you to move on to the next round of financing and prepare for an exit or liquidation event, which typically occurs within three to five years for early-stage founders and investors.”

Creating a successful product requires patience, resilience, and an adaptive mindset. It takes time to build a product roadmap and get to the MVP stage, but that’s just the beginning of the journey. As you move towards launching your product, you must keep refining and adapting it to the market’s demands and customer feedback. By continuously improving your product, you can position yourself for success and capture a significant market share. For early-stage founders and investors, the ultimate goal is to prepare for an exit or liquidation event within three to five years. This timeline requires careful planning and execution to ensure that you can capture the maximum value from your product and business.

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