The tech world knows Israel as “The Startup Nation.”
This term is often attached to the Silicon Wadi in Tel Aviv. However, this week, the tech community, including thousands of attendees, hundreds of domestic and international investors, global corporations, entrepreneurs, media, and locals descended on Jerusalem for the 2018 OurCrowd Global Investor Summit.
Finn Partners was there with a strong presence, connecting with the local tech ecosystem and championing the conversation around digital health – a major growth sector in the Israeli market.
Conversations on digital health at the event were colored, in part, by the Amazon/Berkshire Hathaway and JP Morgan healthcare triumvirate news. With these three major players representing the investment, finance and supply-chain management industries, and not traditionally playing the provider role in healthcare – forming an independent healthcare company, “free from profit and constraints,” the question arises: where does innovation now fit in? How can entrepreneurs and startups get in the game with the global powerhouses driving their collective stake in the healthcare ground as technology innovators and providers?
This question was addressed on the panel focused on digital health at the conference. Dr. Marco Huesch, Managing Director and Chief Medical Officer of Ping An Group’s Global Voyager Fund, explained that giant corporations of today, even beyond the above-mentioned three, including the likes of Google, Facebook, Nestle, and others, welcome agile and innovative startups. There is no competition, but rather collaboration and complementary technologies and ideas coming to life.
The giants, with their massive footprints, will march forward on their healthcare missions. All the while, young, innovative startups will zip around, pivoting as needed, providing expertise quickly, and developing technologies that answer real needs in the healthcare system. With this speed and agility, these young companies can ultimately reach the finish line faster than the giants – or be acquired by them to continue marching forward.
Where is this innovation happening, and what are the trends causing the paradigm shift in healthcare to a value-based system? Big Data, Artificial Intelligence/Machine Learning, IoT, wearables and mobility are some of the technologies reshaping and influencing our approach to healthcare. And, Israeli startups are a major driving force of these innovations that can truly impact and improve people’s lives.
The Israel office represents true leaders developing life-saving and life-enhancing digital health solutions. From AI-driven early detection solution developer Medial EarlySign, to Somatix’s machine learning-based gesture detection platform that allows for real-time health interventions, to EarlySense’s contact-free continuous monitoring system– our Finn Partners clients are leading the way in innovations that can change the world – and we are proud to help them tell their stories.
And yet, we have only scratched the surface of how these technologies can impact the world.