Are you an innovator looking for networking opportunities with the leading players in health tech? Are you a startup or SME looking for funding to develop tomorrow’s digital health solutions? Are you an investor tracking the market to find and support the brightest ideas? At VentureConnect Europe (formerly EC2VC), investors and startups can show-off innovative technologies, connect with reliable business partners, and start to flourish on the digital health market.
2020 was off to a great start with a record investment of $3.1B in digital health for Q1, according to the latest report by RockHealth, capping off the largest digital health investment over 12 months, with a total of $9.3B between Q2 2019-Q1 2020. Then the COVID-19 pandemic hit the world, disrupting the financial markets and making this trend questionably sustainable for the rest of 2020. This unprecedented situation, both for entrepreneurs and investors, pushed the companies to delay or downgrade their rounds, or do bridge rounds to support the development of new products for COVID-19 or to survive this unpredictable period. But the investment didn’t stop. June saw several consequent rounds especially in the Digital Therapeutics space, proving that digital health investment is still very much active.
We are certainly living a very interesting time, with a jump in digital transformation and adoption, especially in telemedicine and digital therapeutics, as digital has become the way to access healthcare these past months. Many patients and healthcare professionals who used digital services during the pandemic and lockdown said they will carry on from now, offering a nice runway for digital health companies to flourish.
Last, but not least: patients demand changes for better, longer lives. The switch towards preventive and predictive care models, affordable and accessible services, and personalized medicine will continuously drive digital health, shaping the healthcare systems globally. As stated in the “2020 global health care outlook” by Deloitte, healthcare spending is expected to rise at CAGR of 5% over 2019-2023. The sector is hungry for innovation to become more sustainable and patient-friendly.
Investors want to make sure that they only have the most promising startups in their portfolio. Similarly, startups search for balanced and stable funding that guarantees long-term development. Both parties are trying to recognize early market opportunities. Will the cooperation in innovation development secure the return on investment and spell market success in the future? Will stakeholders and patients accept a specific idea? Amongst the many factors recognized to bring success to digital health companies, one factor is certainly a must: finding a good fit partnership.
Combining the experience from the former editions of the EC2VC Investors’ Forum and Pitch Competition and the expertise of the HIMSS international community, a new formula for investors and startups has been developed - VentureConnect. This is a networking-oriented event and a marketplace for startups, SMEs, and investors, linking supply and demand in health tech.
VentureConnect continues the success of the previous editions of the EC2VC event. In 2019, two startups won the EC2VC: Thryve and StethoMe. Recently, both have been rolling out dynamically, benefiting from international recognition on the health tech market.
StethoMe (Poland) is a smart, mobile stethoscope for telemedicine applications. It relies on medical AI algorithms to detect abnormalities in the lungs and heart. Wojciech Radomski, CEO & Founder of StethoMe, admits that EC2VC positively affected their business relations and enabled them to reach potential partners more efficiently. “StethoMe got access to the key stakeholders and mass media. We have found potential business partners who perfectly match our target market and requirements,” answered Radomski during an interview in February 2020.
The second winner, Thryve (Germany), is a health data hub integrating all customer's data from smartphones, wearables, and connected medical devices through one plug&play app. It already covers 350+ different devices in more than 33 countries. “Winning the prestigious EC2VC championship ignited visibility at scale for Thryve. It kicked-off our growth and international expansion. We tripled our customer numbers to more than 40, coming from all healthcare verticals, which created a truly global presence. Right now, health services from all over Europe rely on Thryve, from the UK to Poland, from Finland to Israel,” reveals Friedrich Lämmel, CEO & Founder of Thryve. He also emphasizes that being chosen as the leading frontrunner in healthcare generated interest from VCs across Europe, both directly on site, but also after the event.
The VentureConnect event will take place on September 11, under the agenda of the HIMSS Europe & Health 2.0 Digital Event.
If you are an investor. With an exclusive focus on digital health, VentureConnect is free to attend. Click here to proceed to a registration form. Your participation in VentureConnect comes with 25% off the admission rate to visit the entire HIMSS & Health 2.0 European Digital Event 2020.
If you are a startup. Take your chance to be recognized on a grand stage. Click here to submit your application to the VentureConnect pitch competition before June 30. In August, ten finalists will be invited to present their solutions online in front of a jury of the most influential digital health investors in Europe. Presenters will introduce their solution in a 4-minute pitch, followed by 6 minutes of Q&A. Startups that apply to demo can to apply to VentureConnect.
More details, eligibility and judging criteria, prizes, and information on the application process can be found here.