Following the announcement of our fundraising, our CEO Samir El-Alami spoke with the Dr.Hempel Digital Health Network about fundraising as a health-tech and the doctorly team vision.
Fundraising in healthtech is a very interesting subject at the moment. As far as keylife industries are concerned (e.g. Banking, Insurance, Food, Travel, etc) there have been monumental shifts in product/service level, mostly driven by the wide use of internet and mobile devices.
On the other hand, the health industry is slowly but surely lagging behind.
Obviously different countries have different levels of digitisation and innovation within their healthcare industries, but overall, the trend isn’t great.
Why is that? Investors are certainly actively looking for excellent teams with visions of disrupting an ageing industry, but is there a lack of quality startups wanting to take on a big, regulated, and difficult market? Or is it the health industry itself that is preventing innovation?
We believe that it is a little bit from column A and a little from column B.
Many startups would prefer to tackle patient facing, non-regulated, modular services and tools… which often don’t do much to effect the day-to-day life of a doctors.
Meanwhile within the health-industry itself, while doctors are certainly pro-innovation, they spend their time focused on treating their patients, as opposed to lobbying for digital innovation.
Current suppliers of tools and services are also not in a particular hurry to disrupt themselves and offer doctors better products.
Timing is also very important. It seems that the German government has become pro-innovation over the past years and are pushing for new laws, new programs, and have a very real desire for doctors to become more digital and have access to better services and tools.
And then you have GDPR/DSVGO, a kick up the backside of anyone who has been taking data protection, security, and access for granted. In a country where health records are stored on paper files and DVDs inside draws and on the tops of tables, it certainly will be a watershed moment for the implementation of secure cloud-based storage in Germany.
We believe that there is going to be a great deal of meaningful innovation in the health industry over the next 5-10 years or so, and we are excited to be a part of it.
You can read the full article here – Dr Hempel doctorly article
The doctorly team.