Rupy Aujla

Insights into Leadership in HealthTech 60% of founders of healthtech unicorns (companies valued at $1 billion or more) hold a PhD, in contrast to only 25% of founders in other sectors.. This data underscores the specialized knowledge and research background often required to innovate effectively within the complex landscape of healthcare technology. The prevalence of PhDs among healthrech leaders suggests a deep integration of scientific expertise with entrepreneurial vision, potentially driving more informed, impactful innovations in healthcare delivery, diagnostics, and treatment. #HealthTech #Innovation #Entrepreneurship #Leadership #TechTrends

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Building a healthtech business before really validating your idea is insane. But yet, I see this all the time. As part of the work that I do with Adopt-A-Doc, I speak to lots of early stage healthtech founders. You will be genuinely surprised at how many dive right into the health space based off only on: 1. Desk research 2. Personal experience. 3. Feedback from 𝐨𝐧𝐞 clinician. What results is someone who only understand the macro picture, but without an inkling of the realities on the ground. This leads to a weak value proposition. And a poorly formed product. (That does not help anyone) ______________________________ In healthcare, validations comes in 3 levels. 𝐋𝐞𝐯𝐞𝐥 1: 𝐃𝐨𝐞𝐬 𝐢𝐭 𝐬𝐨𝐥𝐯𝐞 𝐚𝐧 𝐚𝐜𝐭𝐮𝐚𝐥 𝐩𝐫𝐨𝐛𝐥𝐞𝐦? - Is there a genuine clinical need for this? - Is there no current solutions to this? - Is this a big enough problem? 𝐋𝐞𝐯𝐞𝐥 2: 𝐇𝐨𝐰 𝐰𝐢𝐥𝐥 𝐭𝐡𝐞 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐟𝐢𝐭 𝐢𝐧𝐭𝐨 𝐭𝐡𝐞 𝐛𝐢𝐠𝐠𝐞𝐫 𝐩𝐢𝐜𝐭𝐮𝐫𝐞? - Can it work in the current clinical pathway? - Is it technically feasible with current infrastructure? - Will the solution work in other regions as well? 𝐋𝐞𝐯𝐞𝐥 3: 𝐖𝐢𝐥𝐥 𝐩𝐞𝐨𝐩𝐥𝐞 𝐚𝐜𝐭𝐮𝐚𝐥𝐥𝐲 𝐩𝐚𝐲 𝐟𝐨𝐫 𝐭𝐡𝐢𝐬? - Is there reimbursement pathways for similar tools? - Is there genuine appetite to pay for your solution? - What are the barriers to payment and market entry? ______________________________ 𝐓𝐡𝐞 𝐭𝐫𝐮𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐭𝐭𝐞𝐫 𝐢𝐬, There is really no excuse for anyone not to take the time and effort to find out the basics as above. Healthcare is a slow and expensive industry to innovate in. Mistakes are also less tolerated as well. Wouldn't it be sensible to find out the above before betting the house and starting a whole business? 🤔 Just my 2 cents. 👇 What do you think? Priya Oberoi | Estia Ryan | Kevin McDonnell | Konrad Dobschuetz | Hassan Chaudhury HonFAPM | Ezzaldeen Elzagzoug | Dr Thomas Maggs

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Are you familiar with the term ‘Femtech’? Should ‘Mentech’ be a term? First discussed back in 2016 when Ida Tin, the co-founder of the menstrual tracking app Clue used the term for the first time on a panel discussion devoted to female health at the TechCrunch Disrupt conference. An idea some consider contentious, there are opposing views on the term. Olivia Goldhill published an article for Quartz titled “‘FemTech’ is not and should not be a thing”. “Though the term ‘FemTech’ may have served the valiant role of protecting some men from talking about periods, taking a narrow group of products and labelling them ‘female’ has unfortunate consequences. This designation effectively implies that half the population is a sub-niche market with a series of body-specific needs. Where, after all, is the talk of ‘MenTech’? There isn’t any. All the ‘male technology,’ such as voice-recognition technology that recognises male voices better than female, or phones that are too big for women’s hands and don’t fit in pockets designed for women, aren’t designated ‘MenTech.’ They’re just the norm”. In my opinion, I agree with the term ‘Femtech’. I think both women and men need different solutions tailored to their specific needs when it comes to health, wellbeing and the integration of technology. For example, Flo Health Inc. is an app designed specifically for women. Here at Pitstop we have recently launched a business aimed specifically at improving the lives of men. Should ‘Mentech' also become a term when it’s something expressly designed for men, rather than everyone? What do you think? --- If you’ve enjoyed this post follow me Emmett Kilduff. Share this if it strikes a chord and let’s get the conversation going. Men - try a 7-day free trial of the Pitstop app https://lnkd.in/g--S5vRw Employers - I’d like to discuss how we can support your teams better. Invite me for a talk!

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📌 Founders raising via SAFE—read this! Dan G. does a fantastic job explaining the rationale behind discounts vs valuation caps. So many VCs have blanket responses to a SAFE that is discount-only and doesn’t provide a valuation cap. Understandable at a basic level but does not take into account the differences in types of businesses. My lawyers at Troutman Pepper (Michael Seymour & Jake McDonough) advised on a discount-only SAFE. To be honest, it was frustrating when VCs would say “we don’t invest in discount-only…”—no rationale ever given, just a stance set in stone, I guess. However, Dan does a great job of outlining why a SAFE should be discount only vs valuation cap. For businesses where the future valuation is less predictable (e.g. deeptech—tech solutions based on scientific or engineering challenges) rather than a me-too downstream application (the next best Angry Birds)—a discount is the best approach. It's good to have thoughtful lawyers to provide guidance on making the right early decision on what is best, and thanks to Dan G. for making it clear that there is value (for the company and the investors) in this approach. Other founders will find this article interesting if you are considering which avenue is most appropriate for your business—and that is what is most important. Not creating a structure because VC firms “don’t invest in that one…”-- choose the vehicle that is right for your business and industry. Those that are supposed to partner with you, will find their way to you and will see that vehicle as an opportunity to drive down the path of market-defining opportunity with you. https://lnkd.in/efm6RmGT

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"Is there a fast way to sell to the NHS as an early stage HealthTech Startup?" A founder asked me this sincerely yesterday. 𝐓𝐡𝐞 𝐬𝐡𝐨𝐫𝐭 𝐚𝐧𝐬𝐰𝐞𝐫: Generally No. Let us review the position of this founders startup: 1. First version of MVP ready. 2. Compliance almost done (DTAC). 3. No current evidence yet (Pilot in 2-3 months hopefully). 4. Looking to sell to primary care/ generate leads ASAP. Which to be fair, is where many founders find themselves. ______________________________ There are 4 main factors why I say no. 1. 𝐓𝐡𝐞 𝐍𝐇𝐒 𝐢𝐬 𝐡𝐢𝐠𝐡𝐥𝐲 𝐝𝐢𝐯𝐞𝐫𝐬𝐞 𝐚𝐧𝐝 𝐟𝐫𝐚𝐠𝐦𝐞𝐧𝐭𝐞𝐝. - There isn't a single unified way to reach out to all 1250 Primary Care Networks (PCN) and the 42 integrated care boards in the UK. - If selling to GP clinics, there are 6311 clinics that you will have to approach one by one if not going through the ICB and PCN level. 2. 𝐓𝐡𝐞 𝐍𝐇𝐒 𝐢𝐬 𝐥𝐞𝐬𝐬 𝐤𝐞𝐞𝐧 𝐨𝐧 𝐬𝐦𝐚𝐥𝐥 𝐮𝐧𝐩𝐫𝐨𝐯𝐞𝐧 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 (𝐞𝐬𝐩𝐞𝐜𝐢𝐚𝐥𝐥𝐲 𝐚𝐭 𝐭𝐡𝐞 𝐈𝐂𝐁 𝐥𝐞𝐯𝐞𝐥) - First off, the NHS is cash strapped. Meaning it will need significant proof to justify buying any new solutions. - A lot of software solutions are often bought in bulk (EHRs, Video Communication) at the ICB level and distributed. - But those often are from established companies with substantial experience and evidence. (Note, evidence in this case does not mean just published clinical studies in peer reviewed journals. But real world case applications) 3. 𝐓𝐡𝐞 𝐬𝐚𝐥𝐞𝐬 𝐜𝐲𝐜𝐥𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐍𝐇𝐒 𝐢𝐬 𝐫𝐞𝐚𝐥𝐥𝐲 𝐥𝐨𝐧𝐠. - Even if a procurement decision is agreed upon at the board level, it still takes a while for procurement to complete. - The shared experience points towards a sales cycle of approx 6-12 months at the higher levels. 4. 𝐄𝐯𝐞𝐧 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐢𝐯𝐞 𝐬𝐲𝐬𝐭𝐞𝐦𝐬 𝐭𝐚𝐤𝐞 𝐭𝐢𝐦𝐞 𝐭𝐨 𝐬𝐡𝐨𝐰 𝐢𝐭𝐬 𝐛𝐞𝐧𝐞𝐟𝐢𝐭. - Established channels for HealthTech companies to scale such as the NHS Innovation Accelerator takes time for its benefits to be shown. - Joining national procurement frameworks like the G-cloud or Dynamic Purchasing Systems takes time and vetting as well. (Same for applying for any tender) _________________________________ Does this mean one should abandon all hope selling to the NHS? Certainly not. But it does tell founders to: 1. Prepare for the long run. 2. Prioritise developing evidence for your solutions. 3. Develop great assets that communicate your product's value proposition. Lead generation follows a great product with a track record. Overnight successes rarely happen overnight. To those in my network that have been there and done that, 🙏 What advice can you give? Grace Gimson | Raj Kohli | Alexandra Eavis | Patrick Harding | Liam Cahill

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Great post! In summary: Don't give up hope of selling to the NHS, but tell founders to: 1️⃣ Prepare for the long run. 2️⃣ Prioritise developing evidence for your solutions. 3️⃣ Develop great assets that communicate your product's value proposition. Thanks Dr. Zhong Wei Khor!

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Is the UK viable for HealthTech Start-ups? Yes and No. Yes - If you are looking to build and validate well. No - If you only have very short timeframes. I speak to quite a few international companies and founders looking to expand within the UK via Adopt-A-Doc. Inevitably I am asked the question above. 𝐋𝐞𝐭'𝐬 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫 𝐭𝐡𝐞 𝐩𝐫𝐨𝐬 𝐚𝐧𝐝 𝐜𝐨𝐧𝐬. ✅ 𝐏𝐫𝐨𝐬: - There are quite a few grants to support early stage companies. - NICE and NHS endorsement carry significant weight globally. - There are plenty of reputable academic institutions to partner with. - MHRA regulatory status, like the FDA, is globally recognised.  - There is a very strong healthtech community within the UK. ❌ 𝐂𝐨𝐧𝐬: - Much higher cost to entry and development.  - Significantly more regulatory barriers and standards to comply. - Timelines are protracted be it in academia, NHS or industry. - The NHS is under tremendous budgetary constraints. - There are many incumbents in place, competition is fierce. 🤔 𝐒𝐭𝐚𝐫𝐭-𝐮𝐩𝐬 𝐚𝐥𝐬𝐨 𝐡𝐚𝐯𝐞 𝐭𝐨 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫: - Are there established procurement frameworks or pots of money for similar technologies? - Are there specific grants or academic institutions that can partner with you? - Does your product currently align with the goals and priorities of the NHS? 🌞 𝐎𝐧𝐞 𝐩𝐨𝐬𝐢𝐭𝐢𝐯𝐞 𝐩𝐨𝐢𝐧𝐭 𝐈 𝐡𝐚𝐯𝐞 𝐭𝐨 𝐦𝐚𝐤𝐞 𝐢𝐬 𝐭𝐡𝐚𝐭: - Compared to many other countries, the UK genuinely has a supportive ecosystem to help healthtech innovators. The Health Innovation Network, NHS Innovation Accelerator, Digital Health Playbook, ABHI (Association of British HealthTech Industries), NIHR (National Institute for Health and Care Research), NICE - National Institute for Health and Care Excellence, Accelerators like Propel@YH and DigitalHealth.London Are all examples of tangible support. (Few countries have all the above) ____________________________________ There is never a right or wrong answer. Each founder have to make the call for themselves. But this is my take so far. 😁 🤔 What do you think? Yes or No? 👇 Do share your thoughts below! Liz Ashall-Payne | Hassan Chaudhury HonFAPM | Kevin McDonnell | Nina Sesto, PhD | Liam Cahill | Madhukar Bose |

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Thank you, Leonard Rinser 🤘🏼, for sharing this insightful conversation with Dr. Fei Tian. Her transition from clinical practice to venture capital highlights the significant impact VCs can have on driving healthcare innovations. As a global specialist in healthtech, I'd like to emphasize a few key points from your discussion: 1. Market Validation: Ensuring a strong market need for your innovation is critical. Founders should leverage pilot studies, engage with potential users, and collect data to demonstrate the efficacy and demand for their solutions. 2. Network Building: Establishing a robust network is essential for success in healthcare and life sciences. Engage with industry leaders, attend relevant conferences, and participate in incubators or accelerators to expand your connections. 3. Choosing the Right VC: Alignment with your VC is crucial. Look for investors who share your vision and understand the unique challenges of the healthcare sector. Their expertise and support can significantly influence your startup's trajectory. 4. Balancing Tech and Market Demands: While technological advancements are exciting, it's vital to balance them with market needs. Understanding and addressing real-world problems will make your solutions more attractive to investors and end-users. Fei’s insights are invaluable for any healthcare and life sciences founder navigating the complex VC landscape. What strategies have you found most effective in validating your market and building a strong network in the healthcare industry? #HealthTech #LifeSciences #VentureCapital #eHealth #DigitalHealth

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Yesterday, UK-based Flo Health Inc. announced a whopping $200 million Series C funding raise, valuing the company at over $1 billion and creating the first European FemTech "unicorn". Not surprisingly, the investment was led by a US heavyweight, private equity firm General Atlantic, which is betting big on the growing market for fertility and menopause products. FemTech, or Women's Health, has been attracting a significant total of $1.5 billion in venture capital since January 2024, surpassing the 2023 total. The sector has also seen a significant number of acquisitions (85) of ventures incorporated since 2012, approximately a ratio of 1:10 of all FemTech ventures incorporated in the same timeframe. Despite this, the investment by General Atlantic hints more towards a potential listing within the next 24 months. Note: The image shows the funding raised by FemTech ventures between 2019 and 31 July 2024. Interestingly, the average deal size has significantly grown since Q2 2024, levelling numbers we last saw in 2021 (despite the overall lower volume). #FemTech #DigitalHealth

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Harvard Office of Technology Development (OTD) created a guide every founder should read: 1) Is your idea worth it? 2) Protecting your IP. 3) Securing the right funding. 4) Building a team that delivers. After working with startups globally, here’s what founders often miss: - Clear market fit. - A strong pitch. - Game-changing early hires. This guide is practical and Insightful. A must for founders and investors alike. 🔄Share this to help more founders succeed. #founders #investors #venturecapital #guide #markets #insightful #startups

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When Babylon Health failed, it was a shock to the UK startup industry. James Pringle and I spoke to Ali Parsa, the founder, back when things seemed to be going great and it makes for an interesting listen knowing what we now know. Ali is clearly an extraordinary entrepreneur who built Babylon into a big business and could’ve made it all the way had the capital kept flowing in 2022. I was sad when it failed. The NHS will ultimately be saved/disrupted/replaced by private companies starting at the edges of healthcare rather than from within. It’s just too big an organisation with too many stakeholder complexities for that to happen. Babylon was one company that could’ve continued to have a HUGE impact on our healthcare system. We covered so many interesting areas in this conversation, including: Entrepreneurship as a process of creativity How the healthcare industry is resistant to change and disruption due to vested interests and the influence of powerful stakeholders. Private sector involvement in healthcare can bring innovation and improve the quality of care. Technology and data have the potential to revolutionise healthcare by making it more accessible, affordable, and preventive. When fundraising, it is important to raise as little money as possible and be disciplined in financial management 🤔❗ Making decisions, even strategic ones, should not be overly time-consuming or fear-driven. Experimentation and adaptability are key. Learning and valuing human stories are essential for personal and professional growth. The future of healthcare lies in personalised, preventive care that utilises data and technology to intervene ahead of time. Well worth a listen below on Riding Unicorns ⤵

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Just read Elizabeth "Beezer" Clarkson's tweet on the seed to Series A gap. It reminded me of why I wrote a book called 'Journey to Series A' last year. It was inspired by the challenges many startups face when scaling up. And offers practical guidance for founders on how to prepare and successfully raise a Series A round. Watch an excerpt below, full link in the comments. #startups #fundraising #SeriesA

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Fundraising, its the hardest it’s even been. Fundraising along most stages of a business cycles have been very tough. Speaking to fellow founders, or even funds raising capital - money is harder to come by. But, it’s not impossible. I recently closed an additional round of £300k from angel investors to help us for our next stage of growth. Here’s some suggestions to anyone looking to raise funds in this climate: 1. Do a rolling close, you can bank the money in whilst raising the rest. Don’t wait for a target - it only takes one investor to pull out for you to be back at square one. 2. A company in the same industry that has just raised? Speak to them for tips, intros and more 3. Targeted approach to relevant investors with personalised intros - most are happy for cold DM’s 4. It’s a numbers game, make your life easier - use tools that can scale your outreach when you’ve figured out 2 5. Go back to existing funders or those you may have engaged with before, it’s easier to raise from people who are familiar with you 6. Hustle, engage with pitching events, angel networks and people who are connected to the ecosystem Do these 6 things and give yourself 6 months from when you start. P.S - the word from credible VC investors is that in the next 9 months, there is a LOT of dry powder becoming available. Exciting times ahead to build exciting products, services and businesses. ♻️ Repost this to help others who might be fundraising, too. Follow Dhruvin Patel for more.

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What do VCs really want to see from HealthTech Founders? We all know the magic ingredients to building a successful HealthTech start up are unique and require a certain 'order' that can make building look quite different in this space. And it certainly works to different time scales. Yesterday Luke B. and I headed to the HealthTech Roundtable hosted by London Venture Capital Network to get some insights from VCs and ex-Founders about what REALLY matters when you're building 🔨 Thought I'd share the top 4 discussion points I found useful, in case they're helpful to others building in this space. 🚀 Scaling in the fragmented UK Market Each NHS trust operates independently, making it hard to scale with NHS contracts alone. The most successful build initial traction within the NHS, then rapidly expand into private markets (e.g., insurers) or take on international markets like the US or Europe - often sooner than expected. The lesson? Think big from the beginning and prepare for growth beyond the NHS - plan for multiple revenue streams from day 1. 📈 What VCs want to see from you Investors want regulatory rigour and proprietary data that sets companies apart. VCs particularly look for ventures embedded into clinical workflows; a clear marker of clinician TRUST, which is a major hurdle but also a major green flag for VCs. The advice for founders? Think beyond flashy concepts. Focus on gathering real-world evidence, establishing regulatory approval (FDA, MHRA or otherwise), and building solid, clinician-endorsed user bases. 🗺 Evidence is a journey, not a destination There was discussion around conceptualising evidence as a 'journey' rather than a destination, which I rather liked. Emphasising the ability to think creatively and collect a whole range of evidence types at every single step of the way, to build a compelling, rich case of clinician trust, real world impact, and product-market fit. Squeeze evidence out of every single customer conversation, demo, trial. Every drop counts. 💡 Hindsight from Experienced HealthTech Founders It was great to here experienced ex-Founders in the space talk about what they'd do differently next time. I think what I found most interesting was the discussion around the importance of execution, and more importantly, demonstrating pace of execution within a 'slow burn' market. It made me reflect on what hard decisions we need to make around prioritisation, to make sure we're delivering real value as fast as possible. Its so easy to feel the pressure to do everything at once; collecting proprietary data, evidence generation, clinical integration/acceptance, revenue generation. But is it better to move fast on one? We're trying to be super strict on ourselves here at Ogma. But it's hard, and we slip up sometimes. It was a beautiful Autumn day in a beautiful location, here's a pic 📸

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There's a popular notion that startups should focus purely on rapid growth, driven by investment rounds and scaling quickly. This approach attracts attention because it aligns with the aspiration of becoming a high-growth company. However, it can lead to complexities, particularly when it comes to managing ownership stakes and the implications for shareholders. On the other hand, there’s a contrasting strategy that emphasizes careful cap table management and a strong foundation of transparency. This alternative is appealing as it builds trust among stakeholders and sets a solid groundwork for sustainable growth. However, the challenge here is that it might not create the immediate excitement that aggressive growth strategies can. A blended approach could help optimize benefits from both sides. Startups can prioritize growth while maintaining transparency in their cap table management. For example, during funding rounds, having a well-organized cap table available can facilitate negotiations with investors, ensuring clarity in ownership and equity stakes. This not only reassures potential backers but also empowers employees with knowledge about their equity positions, boosting morale and engagement. In practice, consider a scenario where your startup is preparing for a significant funding round. By integrating a solid cap table management solution, you can present a clear and updated picture of ownership—enabling potential investors to see the real value of your company while ensuring your team knows how their contributions fit into the larger picture. This blend of dynamic growth and rigorous management fosters an environment of trust and long-term success.

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Thank you to Alexandra York at Forbes for featuring the news of the first baby born using Gameto's product, Fertilo! Our investor Dusan Perovic at Two Sigma Ventures and I spoke with Alex to discuss what this breakthrough means for Gameto and the future of the field. Fertilo is an induced pluripotent stem cell (iPSC) derived proprietary solution for IVF and egg freezing that matures eggs outside of the body, using a reduced stimulation protocol that decreases the majority of side effects that are associated with the traditional protocol. Not only is this the first ever live birth using Fertilo, but it also marks the first ever human birth as a result of iPSC technology. Full article here: https://lnkd.in/gtDbGxME

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