You came up with a fantastic idea to solve a burning healthcare challenge. You formed a team of like-minded innovators and doers. You worked very hard and smart to develop sophisticated technology and product prototype. You raised enough capital to get your company off the ground. You have come a long way but how do you get to the next phase of growth?
My previous experience in consulting has taught me the importance of team work. A team with common engaging goals and objectives but diverse complementing skills could be the dream team for the client. A team with backgrounds in business studies, economics and biology who have worked in developing and emerging markets could complement each other’s skills and experience to bring implementable solutions for large global life sciences companies. The dream team would offer a great opportunity to learn from each other, build on each other’s work and increase overall momentum in developing a solution. Not saying that team work is always smooth sailing, but with the right set up and the right people, it was perfect!
Digital health startups and pharma companies can be the perfect team for the patients and the healthcare system.It is really not about David versus Goliath. It is the era of David with Goliath. Teaming up with a pharma company could be the key to next phase of growth for you and the pharma company!
Healthcare is a complex market with regulations and multiple stakeholders, besides the patient, who influence the choices, decisions and funding. As a startup, it can be challenging and resource intensive to navigate the multi stakeholder landscape and the regulatory pathways to reach customers and grow your business.
On one hand, pharmaceutical companies are increasingly looking for digital health innovations and have over the years built strong expertise, processes, and teams to comply with regulations and access large markets and stakeholders. They have understood and repeatedly worked with the regulatory systems for different products and geographies. On the other hand, if your startup has a great novel idea, innovative digital solution and a smart team looking to scale up, it’s a perfect match!
G4A Dealmaker at Bayer is a program which brings together you and Bayer to make those perfect team partnerships which can solve today’s healthcare challenges. Check us out and join us at G4A.Health. We are looking to partner with digital health innovators like you!