Today we continue our series on 10 Rules for driving health innovation faster with another post in the lead up to our CyberMonday MedStartr Momemtum event. The deadline to apply to pitch is tonight at Midnight, so the time to hesitate is through.
We know many of you have great ideas and great passion to help improve healthcare but we are here to tell you…
Healthcare attracts so many entrepreneurs fueled by a plethora of passion and sometimes little else. Don’t get us wrong, we all want to find a cure and save lives, but as any married couple hitting their silver anniversary will tell you, passion is not enough. Passion may bring you to the health tech market, but it won’t keep you there. You have to have a sound business model and a solution that addresses a problem in ways that patients, providers, and partner love. So passion on top of a great idea and business plan will get you there.
Ben Franklin said it the best:
“If passion drives you, let reason hold the reins.” — Benjamin Franklin
So many ideas we see on MedStartr and at our H2NYC events are generated by empowered patients, providers, and healthcare leaders of all stripes. Passion is the fuel that gets these folks going, wakes them up at 2 AM, and keeps their fires burning long after those less motivated would give up. Passion is the Healthcare Entrepreneur’s rocket fuel,but without the reality of creating customers willing to pay for the fruit of their nightly labors, entrepreneurs fueled by passion alone will burn out long before achieving stable orbit.
Houston, We Have A Solution
We created our health innovation platforms to help our fellow passion-powered healthcare entrepreneurs to achieve lift-off by acquiring early adopters, feedback, critical team members, mentors, customer, partners, advisers, and investors. If that is you we encourage you to apply to pitch next week at MedStartr Momentum 2015. The DEADLINE is tonight at Midnight, EST. Apply Here. You can also talk to hundreds of folks all day about your idea from your very own table at the event.
If you want to get involved with one of over a dozen great new companies pitching or just bask in the glow of health innovation through leaders like Susannah Fox, Regina Holliday, Peter Frishauf, Cheryl Pegus, and Amy Cueva, then come join us November 30th. You can always watch the livecast on MedStartr.tv or follow us on twitter at Hashtag #MedMo15, but that not nearly as fun as being there. Get Discounted Tickets here while they last!
We chose a photo of our inspirational friend Regina Holliday, the epitome of patient passion, to headline this post because as an adviser to MedStartr since day 1 she has always been a champion of making sure that there is a sound financial underpinning to what we do. No, we don’t ever forget the importance of why we do this, but it always needs to be sustainable. Thank you Regina!
You can meet Regina and hundreds more healthcare innovation community members irl Next Monday. See you there!
Alex, Anthony, Mimi, Steve, and the H2NYC / MedStartr Team
Please call if you have questions or ideas: 530.MED.STAR
In preparation for our first full day event, Momentum 2015 we are writing out our ten secrets to Healthcare Innovation Success.
To Summarize where we are so far:
Rule # 10: “Be in the right Place“
Rule #9: “Do One Thing Well”
After sitting in on 100’s of pitches in the past two years it constantly amazes me how much start-ups try to do. Like it is not hard enough to get one peice of digital health technology perfect. Everyone in healthcare whether a patient or provider or payor is beyond busy, if you try to make them take the time to figure it out or they aren’t sure in 10 seconds what they get out of it then, it won’t fly.
Google built the best search engine.
Facebook built the best social posting engine
Instagram built the best photo sharing app
Uber built the best car request app
As Steve Jobs said “it’s not deciding what to do, it is deciding what not to do” In our world more is not necessarily better. So make the hard decisions and don’t keep adding to your product wish list. Don’t be influenced by friends and colleagues who suggest additional things to do. Stay focused and prioritize.
The best example in our experience is Sonny Vu who we put on stage in 2012 at Ruby Skye at an event we called Healthcare Revolution. He brought his Misfit Shine prototype and showed that healthcare wearables could be beautiful. Three years later almost to the day he sold that company for 260M to Fossil. So stay focused and make products people love and you will go far.
Show off your best at MedStartr Momentum 2015
Join us for MedStartr Momentum 2015 and show us what you have done so well. The application to pitch deadline is Monday the 23rd, so don’t delay. Get your early bird discount tickets, learn more, or apply to get up front here.
Speakers include Regina Holliday (The Walking Gallery), Susannah Fox (CTO at HHS), Peter Frishauf (founded Medscape), Unity Stoakes (StartupHealth, Dawn Bell from Novartis, and over 15 more amazing partners, investors, stakeholders.
See you there!
Anthony and Alex
In preparation for our first full day event, MedStartr Momentum 2015 we are writing out our ten secrets to Healthcare Innovation Success. After helping hundreds of new ideas get to market faster, we have learned a few things about what works in driving innovation in our industry. We will release them one a day to make them more easily digestible. Enjoy!
Rule # 10: Be in the right place
Wayne Gretsky said that he wasn’t the fastest player or the best puck handler, but he always focused on where the puck was going to be, to be in the right place at the right time. Well for innovation to happen you can’t just stay in your lab or department, at your desk or in your office, you need to go where it is, where it crackles and sizzles with life and where you will find the right people and partners that will help spark the best ideas with you or can bring the distribution, awareness, capital, and skills to the table.
So where’s the puck?
From the very first H2NYC event I attended in 2009 where an engineer with a smart pill bottle idea met a marketer and a new company was formed to the AHA CrowdChallenge we ran that helped 9 new companies do 1.7 M in new business in 31 days this year, there is no better place to be than a health innovation event, community, or contest. Whether you are an innovation leader at a hospital or pharma company or a startup founder with a great idea, internet searches, spitballing with your team, and cold calling will only get you so far, you need to get out there!
Need a place to go now?
Find your local health innovation community, usually on Meetup.com, go to a national event, or even join us for MedStartr Momentum 2015 on Nov 30th at Microsoft’s facility in Times Square in New York City. Get stakeholder discount tickets, learn more, or apply to get up front here. Speakers include Regina Holliday (The Walking Gallery) and Susannah Fox (CTO at HHS) and over 22 more amazing folks. If you need help finding a local group ping us as we have relationships with such groups in 100 cities around the world.
Have a Momentous Day!
This post was originally published on the MedStartr Blog
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