Health Tech Speed Clinic – in collaboration with Institute of Systems Science, NUS
Everyone’s gone to a clinic at some point in time:
- you get in
- you register
- you wait
- you get in to see the doctor
- doctor listens to you
- doctor does diagnostics
- doctor quizzes you more
- doctor gives you the prognosis
- you grab the medication
- and you’re free to go (after paying)
This is what the Health Tech Speed Clinic is all about.
The Smart Health Leadership Centre and Meetup Health 2.0 Singapore collaborated to bring about a fast-paced event, the Health Tech Speed Clinic, focusing on the health tech start-up and product commercialisation scene in Singapore.
The opportunity for health tech companies to support the transformation of healthcare continues to grow, with the health tech start up sector playing an important role in supporting the ongoing evolution of healthcare. This event aims to provide practical insights to support aspiring health tech start-ups, as well as those seeking to commercialise new products, in maximising their impacts.
The Health Tech Speed Clinic took a quick, direct, yet penetrating look at healthcare and medtech companies in their steps towards product commercialisation and market entry. This Clinic had a strong platform component, leveraging on the use of digital technologies to further enable viable health and clinical outcomes.
Pointing the spotlight on two brave companies, the Clinic put them through the piercing judgement of a healthcare industry expert panel – the Brutally Honest Panelists, who will assess and evaluate their efforts towards product commercialisation, diagnosing strengths and weaknesses, and prescribing recommendations to support successful outcomes.
Getting the folks registered
Part of the crowd that skipped Mid Autumn Festival （中秋节）to be here. Thanks!
The Brutally Honest Panelist of 7 each gave their perpsctives of what they were looking for
Wayne – go-to-market strategy, commercialisation, clinical workflow
Tamsin – value proposition, applicability in the healthcare setting
Matt – science and technology
Isaac – operations, logistics, usability
Peisi – sales, marketing, reimbursement
Yuichiro – investor evaluation
Ee Bin – quality, regulatory, and all the ugly stuff
Wayne Spittle presenting what he’s looking out and expecting from the two companies to the audience
NephTech Pte Ltd started off first, presented by Yanling and supported by her co-founder James
Both young, impressionable, full of passion but a clear head, Nephtech described their product’s ability to predict a stenotic event
Yanling from NephTech giving their pitch
Yuichiro (in Kuala Lumpur actually!) giving his investment and buyer perspective to Yanling. All Yuichiro could actually see was the first row (from the webcam)
What followed on was a 15 minute Q&A with the Panelist that started with a few probing questions, that went on to be, well, feeling a bit BBQ-ed 🙂 All good fun!
Everyone taking a breather, even the Brutally Honest Panelists!
Next up was a soon-to-be spin-off from Hutcabb Consulting . This is on a combination of analytics with the well tackled but never solved problem of falls .. all sorts of falls
Oliver from Hutcabb giving his pitch
And more grilling followed….
Isaac Chow (raised arm on the panel) making his point clear
We didn’t get photos (yet) of the final Brutally Honest Panelist, which was revealed at the end to be …the Audience!
incisive questions, not just insightful, and brutally honest indeed (“Co-founder? where were you all this while??”)
let’s just say if it wasn’t growling stomachs, and time constraints.. the audience would have a field day!
All in all, it’s good fun, a good feed, some drinks and booze, and the night ended.
It’s certainly one of the stranger Mid-Autumn Festivals I’ve experienced, but it was definitely worth it
We’ll do it again next year!
Here are some thoughts from one of our audience – Dr. Yashaswi Gupta, Regional Medical Affairs Manager @ SPRIM
An evening well spent at the Health Tech Speed Clinic
“Every problem has a solution; you just have to be creative enough to find it”
This quote came to life at the Health Tech Speed Clinic, where two med-tech startups presented their solutions for early detection of stenosis and prevention of falls among elderly. With panelists ranging from scientific, regulatory, marketing and financial experts and a cornucopia of lively audience, the entire atmosphere was buzzing with innovation and energy. The presenters exchanged ideas with the audience and honed their business skills by negotiating with panelists in the guise of promoters, investors and other potential partners.
While the solutions were innovative and their pitch exuberant, following are my two cents on they could have done even better:
- Emotions:As both solutions were eventually going to be targeted to the end-consumer, the technical part could have been drizzled with emotions. After all, taking charge of your health and well-being involves emotions.
- Tell me a story:If you don’t grab people within the first minute, they’re going to start checking their phones. And the best way to grab the attention is to tell a story, starting with the pain point and how your product is the magical answer to it.
- Engage with the audience:It’s good to engage with the panelists but it’s even better to involve audience to keep the momentum going. Asking and evoking questions is one way of doing it.
- So what??:There was a definite “need” for the two products, which was articulated well but what we needed to know was- what makes that product indispensable- for HCPs or for consumers.
- Show me the money:Ultimately it all boils down to how you’re going to make money. So, towards the end, the message for the investors should be powerful and punchy-“here are 2-3 reasons, why you should invest in my start-up’.
Entrepreneurship, in my opinion, is risky yet rewarding, tiring yet invigorating. To be successful, one needs to be both lucky as well as plucky. But above all, one needs good feedback on the commercial viability of the business plan. The Health Tech speed Clinic is a shining example of a platform, which not only instills confidence in budding entrepreneurs but also inspires people and encourages innovation. Such formats will help to build a larger entrepreneurial ecosystem that could help spawn more companies like NephTech and HutCabb.