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1st April 2024

Top 6 Profit-Driven Strategies Leading MedTech Forward: Strategic planning

“The best entrepreneurs meticulously plan their fundraising strategy, outlining clear goals and timelines to engage investors effectively. From initial outreach to follow-up, this structured approach drives investor confidence and propels progress.”

– Raissa Hacohen, Chief Investment Officer at Longevity Venture Partners

When considering financial sustainability for your MedTech ventures overall, what are the top three factors that come to mind for you? What do the experts have to say?

Fundraising, precise data and strategic planning

A panel called Innovating for Tomorrow: Sustainable Strategies in MedTech was held during the MedTech World Dubai Roadshow last February.

The panel was led by Raissa Hacohen, Chief Investment Officer at Longevity Venture Partners. Hacohen is dedicated to backing purposeful entrepreneurs, seeking transformative innovation across vital sectors, particularly Silvertech, Health-tech, Climate-tech, and Future of Work.

Joining Hacohen were the following specialists for an enthralling discussion:

  • Lucas Perez, Co-founder, Healthcare & Autonomy ExpertCo-founder, Healthcare & Autonomy Expert at HEALTH MY PROJECT;
  • Ranjan Singh, Co-founder & CEOCo-founder & CEO at HealthHero.

Throughout the conversation, Hacohen highlighted the importance of fundraising, underscoring the importance of precise data and strategic planning to captivate investors. Hacohen stressed the necessity for entrepreneurs to meticulously outline their fundraising strategies, specifying target amounts, timelines, and anticipated results, to inspire investor trust and propel advancement.

Lucas Perez | Co-Founder | Researcher | Author

Lucas Perez is not only a Medical Expertise & Strategies specialist in Digital Health and Technologies for Autonomy but also a Co-Founder of HEALTH MY PROJECT.

As the author of the book Real Health, Virtual World: Let’s dive into the Healthcare, Sport & Wellness Metaverse, Perez offers unique insights into the intersection of healthcare, technology, and virtual environments. His expertise and vision contribute significantly to shaping the future of healthcare delivery and wellness solutions in the digital age.

Masterful communication

Perez underscored the paramount importance of effective communication in MedTech ventures.

“You’ve got to master the art of communication and storytelling. Crafting narratives that captivate and inspire action is the way to go.” 

Whether engaging with senior corporations or hospital administrators, being a compelling storyteller is key to conveying the value of your solutions. In a landscape where clarity is king, the ability to articulate complex ideas in simple terms can be the difference-maker in capturing market attention and securing investor buy-in.

Legal safeguards and visionary strategy

Legal protection and strategic vision are a primary driving force in MedTech ventures.

Investing in legal expertise and robust contractual frameworks is essential to safeguarding intellectual property and ensuring long-term viability. Additionally, having a realistic yet ambitious vision of the market landscape, with achievable goals and strategic positioning, lays the groundwork for sustainable growth and market success.

Economic modelling for impact

Perez highlighted the significance of economic modelling and therapeutic value creation in attracting investor interest. 

Beyond traditional business plans, entrepreneurs must demonstrate how their solutions generate tangible therapeutic benefits and address unmet medical needs. By showcasing the real-world impact of their innovations, entrepreneurs can build investor confidence and pave the way for successful fundraising efforts.

“What’s the real juice behind your solutions? How do they not only heal but also make a dent in the medical landscape? Investors aren’t just interested in profits; they want to know how your project will leave a lasting mark. Nail down your project’s impact, and you’ve got the attention of the big dogs.”

Ranjan Singh | Co-Founder | CEO | Investor

Ranjan Singh is a visionary digital entrepreneur and private equity investor with over two decades of experience innovating and investing in transformative sectors. 

Currently, he serves as the Co-founder and CEO of HealthHero, Europe’s leading digital telehealth platform, driving exponential growth.

Capital conundrum

Singh dived into the nuances of capitalisation, highlighting the perils of both over and under capitalisation. 

“Over-capitalization is as bad as under-capitalization. We need healthy growth models and we’re focusing on that.”

Drawing from the dot com boom, he underscored the importance of sustainable growth over flashy funding rounds. For Singh, a balanced approach to capitalisation is crucial, ensuring healthy growth without straying into the realm of excess. 

He emphasised the need for MedTech founders to prioritise commercial viability alongside technological innovation, steering the conversation towards the often-overlooked commercial aspects of the industry.

Credibility of Consistency

Reflecting on his entrepreneurial journey, Singh shared insights into the importance of credibility and consistency. 

He champions entrepreneurs who eschew flashy promises in favour of steadfast execution, highlighting the value of a realistic approach to business planning. 

Singh underscored the significance of delivering on promises over time, building credibility through sustained effort rather than lofty projections.

The True Addressable Market

Singh challenged the conventional notion of Total Addressable Market (TAN), urging entrepreneurs to focus on the True Addressable Market instead. 

He questioned the discrepancy between the purported size of the healthcare market and the actual investments made, advocating for a more realistic approach to market assessment. 

By redefining market potential in terms of tangible opportunities, Singh urges MedTech innovators to prioritise genuine impact over inflated market projections.

 “Healthcare is a big market, but where’s the real investment? It’s about focusing on the true addressable market, not just the numbers.”

Coming right up in the Roadshow series

Now that our Dubai show has wrapped up, let’s shift our focus to the exciting MedTech Roadshow destinations awaiting us.

First up: Berlin. We’re delighted to be working with 5-HT Chemistry & Health for this event, offering fresh insights into the industry and ample networking opportunities. Circle April 8th on your calendar and join us in the vibrant capital of Germany, known for its iconic landmarks and rich cultural tapestry.

Make sure to save the dates for our upcoming shows:

Keep an eye on our website and social media platforms for updates and additional information!

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