Innovation In Healthcare Pop-Up London June 2019 Recap
This past week, Ogilvy Consulting, Mount Sinai Innovation, and humble ventures hosted an Innovation in Healthcare Pop-Up. For the second time this year in London, we convened practitioners from across the healthcare ecosystem to discuss how they overcome some of the key challenges of making innovation work.
The Pop-Up featured a curated list of attendees ranging from startups to enterprises and investors from around the world for an afternoon of discussion around open innovation in healthcare.
The Pop-Up began with a warm welcome and introduction from Mount Sinai Innovation’s Eric Kostegan and humble ventures Ajit Verghese. Moderated by Ogilvy’s Ritesh Patel, the following panels featured leaders such as Icahn School of Medicine at Mount Sinai’s Dr. Scott L. Friedman, Queen Mary University of London’s Kalpana Chaturvedi, Mount Sinai Innovation Partners Erik Lium, humble ventures Harry Alford and Closed Loop Medicines David Cox to name a few. These leaders, representing unique perspectives from various fields, provided lively discussions and meaningful conversations before closing the Pop-Up with a curated startup showcase. Take a look at the main takeaways from the event followed by a photo gallery.
Innovating in Healthcare Today
- Innovation is a priority.
- We (Mount Sinai) are unusual in that we are a medical school that was spawned by a hospital…we don’t have a tether to an undergraduate institution.
- Starts with a core commitment to innovation.
- Try to exploit funding opportunities where available.
- These funding organizations slightly derisk the innovation process and accelerate time to market.
- Those best able to innovate are working with the challenges day in and day out.
- The FDA is forward thinking in digital therapeutics
- The EU is following in the wake of the page that’s being set by the FDA.
Funding Health Innovation
- If you’re interested in working with a large healthcare provider, make sure your product is suited for a large healthcare provider.
- Know your product and who your customer is and how to find a champion within the healthcare system.
- Despite the regulatory and legal risks in the direct to patient space, there’s a really compelling activity, particularly in the lifestyle spans that are typically stigmatized.
- Most startups will come in with the idea that the NHS is their customer — and that’s often a faulty assumption.
- UK-based startups are concerned they have no choice but to turn to the US for funding — which means that all startups that have taken UK grant money and have been schooled and built teams comprised of UK talent now are forced to look outside of our own ecosystem for growth funding.
- We think there are entrepreneurs working on problems worth solving throughout the U.S., but the vast majority of the funding comes from 3 cities — New York, San Francisco, and Boston.
Curated Startup Showcase
- Dr. Jossy Onwude — Co-Founder, BOLD Health
- Rudy Benfredj — Co-Founder and CEO, Mendelian
- Cynthia Cleto — Mount Sinai Innovation Partners on behalf of Zohar Beeri, CEO, Novotalk
- Angela Yu — Director of Strategy, Digital Surgery
- Liam Eves — Chief Business Officer, Aparito
- Maciej (Matt) Szurek — CEO, RemmedVR
- Farhan Amin — Founder, Concept Health
Mount Sinai Innovation is an open innovation program designed to find solutions to healthcare challenges that have the potential to impact health globally. Solving tomorrow’s healthcare challenges requires today’s preeminent organizations to interface with healthcare systems in ways that they haven’t needed to in the past. Mount Sinai Innovation fosters long-term partnership between preeminent organizations and Mount Sinai’s forward-thinking leadership, faculty, and students. Participating organizations are matched with a navigator, a Connector-In-Residence across the Mount Sinai Health System that helps hone in on nodes of value and activate the right Mount Sinai resources to optimize partnership.
