The world of healthcare is undoubtedly becoming more digital. But what health-tech solutions do clinicians and patients really need?
Too often, healthcare startups are criticized for failing to tap into the needs of the sector; or for lacking a robust commercial underpinning.
Clinical evaluation, technology validation and a scalable business model are all critical to success in this highly fragmented and competitive market; but many health-tech startups forego these elements in their race to conquer local and global markets.
With this in mind, the Innovate Health PitchFest will see nine promising health tech startups pitch their business’ value proposition – in a Shark Tank style set up – to a multidisciplinary panel of Clinicians, Investors, Mentors and Business leaders.
Pitching startups this year include Onboarded, Perx Health, Atmo Biosciences, Medtasker, My Life Health Services, DermaSensor, CancerAid, Phyto and Siara Health.
Their solutions include an ingestible device for testing internal gas levels, a gamified program for incentivizing healthy behavior, and a task management application.
Sponsored by Pfizer, PitchFest not only casts a spotlight on some of the most exciting startup companies emerging in the industry; it also presents a crucial opportunity for engagement and industry consultation.
Pfizer Australia’s Country Medical Director, Dr. Krishan Thiru, is among the esteemed PitchFest judging panel at the conference. He says, “Our industry is continually seeking innovative solutions and approaches across the patient journey to complement our medicines and drive the best possible patient outcomes.”
But, as moderator Chris Kommatas – Innovation Manager / Accelerator Director at the Royal Melbourne Hospital and North Western Mental Health – warns, it is not an easy market to break into: “A major challenge for entrepreneurs in healthcare is gaining access to the right stakeholders within hospitals, health services and importantly, payers.”
“Without robust cross-discipline engagement, most digital health startups don’t gain a truly holistic view of the problem, and miss critical input into their well-intentioned solutions which may fail to deliver sustainable benefits.”
Joining Chris Kommatas and Dr. Krishan Thiru on the panel are senior representatives from Novartis, Brandon Capital, ANDHealth, Ignite and the Royal Melbourne Hospital Foundation.