Investing in a healthcare company requires a multifaceted approach to understand the underlying drivers – positive and negative trends, future changes and implications, dynamics of different sub-sectors and more. With current technologies and advancements, we at Unitus Seed Fund believe four sectors will play a disruptive role in making healthcare more accurate, remotely available and affordable – artificial intelligence, analytics, devices and home health.
We are currently running our annual StartHealth 4 competition to find, nurture and invest in innovative startups in the aforementioned areas, and have put together a list of key questions, we as healthcare investors, would like to definitely know from entrepreneurs –
If you are working on an AI/machine learning/neural networks solution –
- Does your AI algorithm involve any IP?
- How do you source annotated data in the near term and at scale?
- Who owns the data?
- How often would you need to tune your algorithm and what are the costs/effort each time?
- If your solution addresses inefficiencies in workflow (hospitals, diagnostics chains), quantify the extent of efficiency improvement, reduction in costs, ease of integration?
If you are working on a device –
- Do you have any patents granted or FDA/CE approvals obtained?
- What is the nearest existing alternative? How is your device superior (not necessarily the tenth glucometer or the 15th ECG device) ?
- Who is your customer (B2C, B2B)?
- What is your distribution model?
- Can you share details of clinical studies conducted, showing how your device compares with the standard of healthcare device currently in the market?
If you are providing a home health service –
- How is your service different from the many there already are?
- Home health is a purely hyperlocal service. How do you ensure you are able to balance supply and demand at scale?
- While there is significant evidence of demand, how is your model better at addressing availability of “quality supply” at scale?
- How can you ensure consistency in healthcare delivery across your customers?
- Is the business completely offline (people-based) or are there any material elements of technology that will help scale non-linearly?
Applications for our StartHealth 4 competition are open until June 6th, 2017. Know more details here.