Newsletter Editorial, May 2020
Digital technologies have transformed most economic sectors over the past decades.
Life sciences are no exception and the driving force behind it is not only the rapid development in digital technology. The increased healthcare challenges worldwide have also given rise to the field of health tech and it shows in the investment landscape. Over the past 10 years, there has been a more than 10-fold growth in venture capital investments in health tech reaching close to $10B in 2019.
The ongoing COVID-19 crisis has also increased the adoption of digital technologies such as virtualization of services in healthcare, but digital technologies have already impacted our health care systems in multiple ways.
Today, hand-written prescriptions and medical records have been replaced by electronic records, measurements previously made by doctors during medical checkups can now be collected by smartphones and wearables, and life science research and development is increasingly relying on big data and automation.
Despite the promises of digital technologies in healthcare and life sciences, the lack of solid clinical validation and limited customer adoption are still amongst the significant challenges in this new field. To maximize the impact that data can have on global health, the ecosystem must focus on and invest in overcoming them. At BioInnovation Institute, we are determined to support ambitious and impactful health tech startups that will engage in this mission in the years to come.
If you want to join us, apply for our PreSeed program before June 4, 2020.