Month: October 2018

Investors looking for impact unicorns at HealthTech Nordic Investor Forum

Marianne Larsson, Project Manager for HealthTech Nordic and Director of New Industries and Innovation at Innovation Skåne summarise the successful event.

HealthTech Nordic this week hosted the largest healthtech investor forum in the Nordics – and it was a resounding success!

– This was truly a great event, it feels as if all relevant investors were gathered at the forum, it has certainly helped me progressing my company, one participating founder of a startup said.

Another startup founder the day after the forum reviewed it on LinkedIn, saying he’d been “attending the best investor forum for healthtech companies in the Nordics!”.

On October 24 the HealthTech Nordic Investor Forum gathered 14 of the Nordics most promising startups in healthtech and 22 international investors interested in the fast-growing industry. The forum aimed to bring startups and investors together and prompt them to embark on new partnerships able to disrupt today’s healthcare system.

HealthTech Nordic’s investor forum is unique in the Nordics, never otherwise is so much investment capital targeted for healthtech companies gathered in one room. Because of this, the expectations from organizers, startups and investors were very high. However, the event lived up to the high expectations with startups and investors after the event expressing great excitement for participating.

Investor pitches – “I love it”

The program for the day included 60 second pitches from startups – as well as from investor, an unusual set up but believed by HealthTech Nordic to be essential to ensure mutual beneficial partnerships.

– I have not been to any other event where investors need to pitch for startups – but I love it!, one participating investor said before delivering his pitch.

Another investor in her pitch let the audience know exactly what they were looking for, also reflecting the potential for this new line of business.

– We’re looking to invest in an Impact Unicorn, meaning a disruptive company with the possibility to impact one billion people, Tove Larsson, Investment Manager at Norrsken, said in her pitch to the startups.

In their pitches, investors let the startups know they had money to invest in the growing healthtech business. This became even more evident in the one to one meetings between the startups and investors that followed the pitches. In the entrusting talks startups and investors thoroughly discussed concrete possibilities for collaborations.

The intended, and likely, outcome of the forum is that several of these discussions will lead to investments. Just as last year’s Investor Forum did. The HealthTech Nordic Investor Forum this year ran for the second consecutive year.

A paradigm shift in the making

Apart from pitches and one to one meetings the forum also included two much apricated keynotes. One delivered by Indra Sharma, Venture Lead at EQT Ventures, speaking about the Impact of tech on women´s health and one by Sven Lingjaerde, Managing Partner at Endeavour Vison, speaking on the topic of Digital health: not if, but when.

The latter keynote was also a testimony to the fact that interest from investors for the fast-growing healthtech industry has increased significantly just over the last year. As well as the fact that the number of HealthTech Nordic member startups with world-class scalable healthtech solutions are higher than ever – and demand from their customers is increasing.

– The interest from investors has grown enormously only over the past year, which is why we increased the number of investors participating in this year’s forum. Healthtech is an industry that grows rapidly and we see many promising Nordic startups with the possibility to become the healthtech equivalent to Spotify or Klarna, says Marianne Larsson, Project Manager for HealthTech Nordic and Director of New Industries and Innovation at Innovation Skåne.

The digitalisation of healthcare is a paradigm shift in the making, and Nordic startups are ready to ride the wave.

Read more about the forum and see which startups and investors participated

The largest healthtech investor forum in the Nordics

HealthTech Nordic hosts the HealthTech Nordic Investor Forum on Wednesday October 24 at Sahlgrenska Science Park in Gothenburg, Sweden. The Investor Forum brings together 14 of the Nordics most promising startups in healthtech and 22 international investors interested in the fast-growing industry.

The HealthTech Nordic Investor Forum is running for the second consecutive year, and the interest from investors for the fast-growing healthtech industry has increased significantly compared to last year.

– The interest from investors has grown enormously only over the past year, which is why we increased the number of investors participating in this year’s forum. Healthtech is an industry that grows rapidly and we see many promising Nordic startups with the possibility to become the healthtech equivalent to Spotify or Klarna, says Marianne Larsson, Project Manager for HealthTech Nordic and Director of New Industries and Innovation at Innovation Skåne.

HealthTech Nordic is a project representing 170 startups throughout the Nordic countries. It is the Nordic region’s largest gathering of healthtech startups, and the number of member companies is increasing continuously. The project’s primary objective is to create 700 new jobs in the region by helping the startups grow and rapidly establish themselves internationally. The project is following the steps of a completely new Nordic model, where the startups’ joint attractiveness assists in creating interest from investors and customers, not least internationally.

14 startups and 22 investors participate

The 14 selected Nordic startups participating in the HealthTech Nordic Investor Forum are: Aweria, Brain+, Cardiaccs, Coala, JodaCare, Kara, Learning to Sleep, Mevia. Miiskin, Monsenso, OnDosis, PubGene, SidekickHealth and Visiba Care.

The 22 investors participating are: Almi Invest, Bonnier Ventures, Chalmers Ventures, Crowberry Capital, Dendera, Endeavour Vision, EQT Ventures, GU Ventures, HadeanVentures, HealthCap, Industrifonden, Inventure, Luminar Ventures, NGT Partners, Norrsken, Northzone, Pfizer, PreSeed Capital, Schibsted Growth, Sciety, Televenture and Volvo Group Venture Capital.

Unique amount of capital present

Startups and investors from all the Nordic countries are participating, as are international (pan-European) investors.

– This is the Nordic’s largest investor forum associated with digital health. This is unique in the Nordic region and a great opportunity for the selected investors and startups to meet in focused discussions, says Carl-Peter Mattsson, Head of investor relations and capital issues, Sahlgrenska Science Park and HealthTech Nordic Investor Forum.

Last year’s HealthTech Nordic Investor Forum led to several investments and that’s also the objective of this year’s forum.

HealthTech Nordic is run by Innovation Skåne, Sahlgrenska Science Park, Smile Incubator and Invest in Skåne in Sweden, Cobis in Denmark and Norway HealthTech. The project is partly financed by the Interreg-Öresund-Kattegat-Skagerrak, the European Regional Development Fund.

Find more information about HealthTech Nordic Investor Forum here

The Nordic toddler is about to run

Nordic healthtech companies are moving fast and are expanding into new markets, not the least the American. Because as far as healthtech goes, the Nordics are still ahead of the US.

For the third year in a row, HealthTech Nordic recently attended Health 2.0, a global conference originating from Silicon Valley, attracting early adopters in healthcare and tech among others. During the conference we discovered that our Nordic toddler, is the only baby about to run – into the arms of payers and providers in a broken US system.

The Nordics stand out! Thanks to the combination of:

  • a large community of healthtech startups
  • government ambitions and power in terms of resources and volumes
  • and healthcare providers about to board new open IT architecture (Region Skåne in Sweden being among the first in a long row) enabling communication across providers and geography.

Nordic healthtech pioneers

The ambition was gigantic and perceived, by many, as naive: Aiming for international leadership in an entirely new line of business, where internet of things (IoT) and artificial intelligence (AI) meets life science and healthcare. And to drastically change quality and distribution of healthcare – and thereby people’s health – which early visionaries called the democratization of health.

When we embarked on the HealthTech Nordic project 18 months ago, we were sure that the Nordics had all the pieces to do it. Healthtech is still in its infancy, but people’s awareness of the opportunities it provides are growing steadily. And early adopters love the new empowering solutions.

The first step, improving access to primary care, have already been taken by Nordic startups Docly (Min Doktor), Kry and several others. In other parts of the globe, including the US however, this has predominantly been solved in a more analogue way through what is commonly referred to as tele medicine. But tele medicine solutions are in general much less efficient than the asynchronous chat functions used by for instance Docly, where a doctor is provided with tools to engage with several patients at the time.

The different solutions provide a perfect example of the fundamental difference between the Nordic and the US approach to healthtech.

Coala Life and Cross Technology Solution are two examples of companies providing solutions that empower patients and healthcare professionals alike.

Technology empowering the individual

Right now the next level of tools are gaining traction in the Nordics, empowering patients and healthcare professionals alike. For instance, Coala Life’s heart monitor (pictured) enables patients with chronic diseases to track their heart condition (through ECG/EKG and heart murmur) in one minute, whenever and wherever they are. The heart monitor also automatically alerts medical specialists when needed, using decision making tools like Cross Technology Solution’s LifePod (pictured) to prioritize and help patients with the greatest needs. The solutions are powered by unique algorithms and technology, perhaps best recognized from already widely used music and banking services across the globe.

A growing business

Healthtech is growing, from embryotic visions to a toddler taking its first steps onto the world stage. The growth is welcomed by many. Healthtech, when empowering patients, physicians, nurses, elderly care workers and others, is shifting healthcare into a new paradigm which leads to improved quality of life while reducing the costs and workload on the healthcare system overall. This is all coming together in the Nordics. Startups and established companies are already providing the solutions, and the healthcare system is about to pick them up making them widely available to patients and healthcare professionals.

Our toddler is about to run. It will take some time yet, but we’re clearly on the right path and clearly still in the lead. That’s our biggest take away from attending this year’s Health 2.0 in Silicon Valley.

 

Marianne Larsson
Project Manager for HealthTech Nordic and Director of New Industries and Innovation at Innovation Skåne