Health Tech: Simon Szewach Of Gelteq On How Their Technology Can Make An Important Impact On Our Overall Wellness

An Interview With David Leichner

Always keep reassessing your business model. Leaders need to question what they are doing, question how they are doing it and whether there may be a better way.

In recent years, Big Tech has gotten a bad rep. But of course many tech companies are doing important work making monumental positive changes to society, health, and the environment. To highlight these, we started a new interview series about “Technology Making An Important Positive Social Impact”. We are interviewing leaders of tech companies who are creating or have created a tech product that is helping to make a positive change in people’s lives or the environment. As a part of this series, I had the pleasure of interviewing Simon Szewach.

Simon Szewach is the Co-Founder and Executive Chairman of Gelteq, a global biotechnology company that specializes in the formulation, development, and manufacturing of an innovative and new ingestible gel technology. He has successfully launched new product trends in the finance, health, technology, and sport sectors with companies such as nTouch Pty Ltd, a proximity-based marketing platform, and StartHere.com.au, an incentive-based shopping platform. Simon is also the Co-Founder and Director of the Sports Diplomacy Alliance and holds a Bachelor of Business in Banking & Finance and a Bachelor of Arts in Asian Studies (Korean) from Monash University in Australia.

Thank you so much for joining us in this interview series. Before we dive in, our readers would love to learn a bit more about you. Can you tell us a bit about your childhood backstory and how you grew up?

I was exposed to the entrepreneurial world from a very young age, as a child of parents who ran their own small business. Unfortunately, they passed away when I was quite young, but they had already instilled in me a keen sense of curiosity and hard work. They, along with the rest of my family here in Australia, really shaped me into the startup founder and innovator that I am today. From watching them face challenges to running successful businesses, I was able to see the risk-reward ratio that is so important in business. I believe that taking calculated risks is important in order to be successful.

Can you share the most interesting story that happened to you since you began your career?

I think the most interesting story is around the winding path that Gelteq has taken to be where we are today. It has been far from linear, breaking out at full speed in one direction and then rotating to a new priority more than once. The perseverance of our team has been inspirational and heartwarming, and we have been driven forward knowing that our drug delivery platform can be a critical solution for many people who suffer from conditions like dysphagia, which makes it difficult to swallow and take medicines.

None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?

There are several people I am grateful towards who helped me get to where I am today.

As noted earlier my parents ran their own small business and growing up, I was often with them at their company, watching what they were doing and learning from this firsthand experience. Seeing what they achieved, seeing how hard they worked to build their business from nothing, and seeing them make something for themselves was really the impetus for my innate focus on entrepreneurism.

Family continues to be a strong influence for me. My wife and daughter provide me with the mental help that is needed every day to run a company. They are my inspirations for building and growing, both in business and as a person. Without them, success would mean nothing. My uncle has also been very successful in running his own businesses, and I often look to him for advice and support, which he is only too happy to give.

In addition to family, I am also grateful to my fellow Co-Founder and Gelteq CEO, Nathan Givoni, who I admire greatly. Nathan is the smartest person I know, and one of the most generous. He was determined to find an alternative solution to pills and powders and coupling this determination with his scientific knowledge, helped shape Gelteq into what it is today.

Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?

Always trust your instincts. They almost never let you down. That doesn’t mean to say you don’t look for additional or external data to validate your views or opinions, but if you don’t rely on your own instincts then you will always be led rather than lead.

There have been many occasions in my startup career that investors and friends suggested that the businesses had too many failings and would simply not work. Believing in my vision and instincts, I financially and emotionally backed these early-stage companies and grew them to be successful in their own rights.

You are a successful business leader. Which three character traits do you think were most instrumental to your success? Can you please share a story or example for each?

I’m not sure success can be bestowed. It’s very much like a road trip. You just want to get to the destination so badly but it’s often the journey that dictates your enjoyment and how you determine the initial success in the trip. If I think about specific traits and examples, the first to keep in mind as I mentioned previously is trusting your own instincts. Deciding to leave the comfort of a regular paycheck and risk everything to start your own business is completely reliant on making the right calls at the right time. The next trait that I think is vitally important would be listening. I’ll often say to my daughter, God gave you two ears and one mouth for a reason, so listen twice as much as you speak. In deals I’ve done, ironically, by listening to the other party, customer, or investor, you can learn more by what they’re not asking by as much as what they ask. This leads me to the final trait and that is reflection. Taking time away to think, consider and think of the best way forward is invaluable.

Ok super. Let’s now shift to the main part of our discussion about the technology or medical devices that you are helping to create that can make a positive impact on our wellness. To begin, which particular problems are you aiming to solve?

We are aiming to address the issues of swallowing and efficacy associated with traditional drug and nutrient delivery methods.

Gelteq has developed an innovative and proprietary oral gel-based nutrient and drug delivery technology. It replaces the problems of swallowing, taste, dosage and efficacy that is traditionally associated with pills, powders, and tablets, and replaces them with an easy-to-swallow set-dosage gel solution.

How do you think your technology can address this?

We are dedicated to developing and deploying our gel-based drug and nutrient delivery system, to preserve the simplicity, accessibility, and efficacy of oral delivery, without the impediments that are traditionally associated with other oral delivery methods.

Gelteq is focused on advancing and commercializing our gel-based delivery solutions within five core verticals — pharmaceutical, over-the-counter (OTC), pets, sports and nutraceutical — all of which leverage our unique technology.

Our gel is easy to swallow, making it suitable for the elderly, children, people with dysphagia, and others who struggle to swallow pills or large dosages. The gel also masks the taste of unpalatable ingredients (i.e. fish oils), thereby making formulations more appealing, and also increases adherence and completion rates due to the improved palatability. Our product will change the way people can safely take their desired dose of medication without any fear or anxiousness that they’ve over or underdosed.

Additionally, our gel has the capacity to hold larger dosages and the ability to incorporate multiple (sometimes incompatible) ingredients into a single gel. It offers targeted delivery and timed release in the gastrointestinal tract and rapid solubility, and provides fast absorption and onset. For example, there may be children and adults who are type 1 diabetics and struggle to control their sugars. When they have a hypoglycemic episode, we can help manage their response through our platform, so they don’t need to be as concerned about controlling the quantity of glucose needed to help them recover.

Existing formulations can easily be converted into market-ready gels and the gel technology is suitable for both humans and animals.

Can you tell us the backstory about what inspired you to originally feel passionate about this cause?

As is often the case, it’s six of one, half a dozen of another. Initially, watching my mother struggle with diabetes made me reflect that there must be a better way for her to manage her sugars and take her prescribed medications. Other family members of mine have also sadly struggled with taking pills and again, I thought there must be an alternative.

That got me thinking…and as they say in the classics, that was it. I met Nathan Givoni, Gelteq’s CEO, saw the initial work that then later became Gelteq’s core technology, and I quickly realized this was the solution we were hoping to find.

How do you think this might change the world?

I don’t know if this is changing the whole world, but rather changing the world for hundreds of millions of individuals who suffer daily with dysphagia and also those who care for them.

It’s a very gratifying feeling knowing that you can genuinely make their lives better, easier and safer.

Keeping “Black Mirror” and the “Law of Unintended Consequences” in mind, can you see any potential drawbacks about this technology that people should think more deeply about?

Honestly no. Our technology solves existing problems but has yet to show any newly-created problems. The fact of the matter is that we have used the same medicine and nutrient delivery systems for a long time and those systems just don’t work for a large population of people. We want to be the solution for those people, creating a more precise and easier to digest system for delivery of those compounds.

Based on your experience and success, can you please share “Five things you need to know to successfully create technology that can make a positive social impact”?

• Number 1, you must have an issue that needs to solved. Any product or service must find a customer. No customers, means no revenue and no revenue means no business.
• That leads me to Number 2. If your business isn’t cashflow positive, or has a pathway to profitability, then you might have the best product/service but it’s not going anywhere anytime soon.
• Number 3, you have to do it for the right reasons. Yes, you need money, but you don’t do it to make money. You do it to solve a problem and then you will get rewarded for it.
• Number 4, always keep reassessing your business model. Leaders need to question what they are doing, question how they are doing it and whether there may be a better way.
• Lastly, Number 5, find reliable partners. It’s a long road and a hard one but if you stick with it and have the right people by your side, the journey will be enjoyable and ultimately successful.

Can you share a few best practices that you recommend to safeguard your technology or medical devices from hackers?

Developing our gel-based IP has been very challenging and time consuming. We have engaged some of the brightest scientists to help create a workable and scalable model which can be both scaled and constantly validated. We have also engaged leading IP and patent professionals within the pharmaceutical area to protect what we have built and what we will continue to build.

If you could tell other young people one thing about why they should consider making a positive impact on our environment or society, like you, what would you tell them?

Martin Luther King Jr. once said, “The time is always right to do what is right.” You could start right now by doing a small part to treat people with dignity, courtesy, and respect. I would let young people know it is always the right time to start to do the right thing and look to the future. Every day should be about creating a better tomorrow. If you follow that path, you can never go wrong.

I’d emphasize the interconnectedness of our actions and their consequences. Every small step towards making a positive impact, whether on the environment or society, ripples outwards, creating a better world for everyone. By contributing positively, you’re not only improving the lives of others but also ensuring a healthier, more sustainable future for yourself and generations to come. Plus, there’s a deep sense of fulfillment in knowing that you’ve played a part in making the world a better place.

Is there a person in the world, or in the US with whom you would like to have a private breakfast or lunch, and why? He or she might just see this, especially if we tag them. :-)

Having breakfast with Jensen Huang, Co-Founder, President, and CEO of NVIDIA, would be a remarkable opportunity. He founded the company in 1993 and has overseen its monumental growth to become one of the world’s most valuable companies. Under his leadership, NVIDIA established accelerated computing and has become a leader in AI. I would like to learn about his leadership style, how he approaches innovation, and ask for his guidance on overcoming obstacles on the way to success. Breakfast with Huang could be a rare opportunity to learn from one of the greatest business and tech minds of our time, gain valuable insights, and perhaps be inspired to approach life and business with a new perspective.

How can our readers further follow your work online?

Readers can visit our website Gelteq.com or follow us on LinkedIn or X to see the latest news about company and the work we are doing.

Thank you so much for joining us. This was very inspirational, and we wish you continued success in your important work.

About The Interviewer: David Leichner is a veteran of the Israeli high-tech industry with significant experience in the areas of cyber and security, enterprise software and communications. At Cybellum, a leading provider of Product Security Lifecycle Management, David is responsible for creating and executing the marketing strategy and managing the global marketing team that forms the foundation for Cybellum’s product and market penetration. Prior to Cybellum, David was CMO at SQream and VP Sales and Marketing at endpoint protection vendor, Cynet. David is a member of the Board of Trustees of the Jerusalem Technology College. He holds a BA in Information Systems Management and an MBA in International Business from the City University of New York.