Open Innovation with Mount Sinai at the JP Morgan Healthcare Investment Conference
Over 250 healthcare investors, pharma / biotech partners and groundbreaking startups joined Mount Sinai to share successes and strategies that enhance innovation ecosystems last month at the JP Morgan Healthcare Investment Conference in San Francisco.
Diversity is key
Diversity has become a key strategy for innovation, as it brings a depth and breadth of perspectives that inform development of products and services. “We aim to strengthen the role of women and underserved minorities in our discovery process,” said Gary Butts, MD, Chief Diversity and Inclusion Office at the Mount Sinai Health System. Leveraging this strategy is critical, given that Mount Sinai has a highly diverse research enterprise, clinical setting and patient population. Michelle Longmire, MD, CEO at Medable agreed that organizations need to tap into its diverse talent, and partner with them to create competitive offerings.
Real world needs determine solutions
Commercial innovation experts stressed the importance of tying innovation efforts with real world needs. “At Mount Sinai, innovation is an expectation. Our aim is to develop tech and ventures around significant unmet healthcare needs,” said Erik Lium, PhD, President of Mount Sinai Innovation Partners, Executive Vice President and Chief Commercial Innovation Officer at the Mount Sinai Health System. Keeping the focus on patient-centric innovation and applying scientific rigor in the evaluation of Mount Sinai discoveries lead to a better product-market fit. “It’s critical to remember the human element in why we innovate,” echoed Chris Waugh, Chief Design and Innovation Officer at Sutter Health.
