In 2010, an idea was born: to build an army of entrepreneurs to improve healthcare worldwide. That was the beginning of StartUp Health. According to their data, in five years, the organization grew to an allegiance of more than 30,000 investors, entrepreneurs and customers from all over the globe.
As is explained by its co-founder, Unity Stoakes, 4000 startups have tried to get in Startup Health so far, but only 180 have made it. What are they looking for?
10 specific problems
StartUp Health supports companies working in at least one of the so-called moonshots. (PICTURE)
In the competitive process of choosing new entrants, the essential criterion is the mindset of the entrepreneur. They are looking for those that have a clear idea why they are doing what they are doing, who think long-term, want to work collaboratively, and are “batteries-included”.
The most important characteristics are passion, motivation, energy. “Most of the entrepreneurs we are working with are entering healthcare not because they would want to get rich, but because they – often due to personal reasons – care deeply about the problem they are solving.”
Are you someone who brings energy into the room or are you draining it out of the room? If you’re in the first group, you have a chance to get into StartUp Health. As emphasised by Mr. Stoakes, “this attracts customers and investors. A positive, hopeful attitude attracts other people with similar way of thinking.”
StartUp Health is backed by Google, Amazon, Keiser Permanente, Cleveland Clinic, Allianz, SAP and other prominent corporations with which they have formed multi-year strategic relationships aimed at creating opportunities for capital and means of scaling solutions.
“We don’t believe in the model of short-term random mentorships programs,” says Mr. Stoakes, emphasizing they only want to work with partners that have a transformative mindset from the top down. These are organisations focusing on external innovation, because they understand real change comes from collaboration.
Find out more by listening to my conversation with Unity Stoakes in Medicine Today on Digital Health.