VentureBlick Discovery has developed into a fully-fledged platform to support healthcare innovation globally. While new features continue to be added according to feedback from our growing user base of advisors, innovators, distributors, investors, and more, we have also kicked off a webinar series to facilitate discussions centred on taking healthcare innovations global. The first Discovery Webinar explored the topic: “Is Going Global a necessity or a privilege for healthcare startups?”
If you didn’t manage to join us, or would like to “attend” the webinar again, the recording of the evening is accessible here: https://lnkd.in/g48DjApX
Here’re some highlights shared by our presenters and panellists that evening:
For healthcare startups, Going Global is often a necessity…
…given the limited sizes of their respective domestic markets. Depending on the specifics of their innovations and business models, adapting to a new market may not entail significant costs anyway, which makes overseas expansion more palatable.
The clinical perspective is often in alignment…
…because an overseas market represents a different population, which generates data heterogeneity that spurs the development of more robust solutions. Of course, clinical use for any solution will vary across healthcare systems, and regulatory demands will require additional data management – but these are par for the course.
Investors agree, obviously…
…since going global expands the target market, which generates higher, outsized returns.
Perhaps the question isn’t whether it’s a necessity then…
…but how a healthcare startup should go global. Alluring as the US is, should a startup jump in at the deep end, or address gaps in other markets first? How does a startup even analyse such opportunities? Does a partnership work better than direct sales and marketing? What sort of partner would make more sense? And are there other partners, perhaps KOLs in clinical affairs, that will be crucial at the start?
Interestingly enough, views remained unchanged about the main theme: we polled the audience before and after the webinar, and got a perfect 2:1 split between those who think see this as a necessity, and those who believe it’s a privilege.
The next Discovery Webinar will be held on 26 September. Keep an eye on our LinkedIn page for the latest updates. Alternatively, you can sign up for our newsletters to get these updates pushed to you. Reach out to us and say hello@ventureblick.com for more information.
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