Quick reads

munich

WeFund Health Participation and Presentation at the EBAN Winter Summit 2017, comes at a time of legendary changes and disruption in almost every sphere of our personal and professional lives, with profound impact on our environment, ecology, and societal norms. WeFund Health brought a unique message to investors and startups at the EBAN Summit – ‘accelerate, scale up or be left out’!

Since its launch WeFund Health platform for matching investors, partners and entrepreneurs has been deemed as “the one to watch” within the Healthcare and Wellness space. Not because it is unique in general, but because it is applying best practices and tools of the investment process to a single industry segment in a very focused way. WeFund Health supported the Summit in many ways, one of which is sharing a comprehensive report on the fastest growing and notable Healthcare and Wellness Incubators, Accelerators, Seed Funds, and PE Funds across North America. The report is available on the WeFund Health Website under this link: http://www.wefundhealth.com/download/1191/

WeFund Health also actively participated in the ‘Accelerating Startups to Scaleups’ master class and workshop to dispel a few myths about scaling up startups and accelerating their growth during later phases of their maturity. A few takeaways kept startups and scaleups on the edge of their seat, as they debated a number of issues related to growth and acceleration. Namely:

Cash Management – need to be smarter at a later stage of development. Much smarter.

People – one of the biggest challenges is to go from ‘family’ to a ‘company’ – operationally, HR-wise, sales-wise, and marketing-wise. Finding the right people, or training the existing ones, is key in any scaling experience.

Hiring great managers early – hire well, and fire well – that should be the motto for any scaling startup. And this is the key to success early on.

Be careful about international expansion – yes, it is romantic to move to Asia, Europe and North America, but do you have all the systems and people in place to do it successfully? If you don’t, this can be a major cash drain and a bad experience on top of it.

One of the biggest insights from the EBAN Summit in Munich 2017 was that if you are addressing the challenges above, you also have to balance them out with the desire of your clients, your employees, as well as your investors. It’s a balancing act, much like the juggling act in the circus – multiple balls will fall, and you have to pick them up quickly and learn quickly as well.

Managing this balancing act is a skill and experience combined – it’s a careful combination of the two. If you are growing, you need the balancing act – skills and experience in your company or via external resources.

My biggest observation at the The EBAN Winter Summit in Munich was that the community of investors and entrepreneurs was not only diverse geographically – from Finland to Turkey, but also was extremely diverse in subject matter – from Space to Healthcare to FinTech. This is a blessing and a challenge at the same time. The EBAN Community of investors is even more “localized” based on Investment Clubs within each geography – great examples include FiBAN (Finland), EstBAN (Estonia), DanBAN (Denmark), and many others. WeFund Health had a very effective interaction with many of these sub-communities and intrigued them with the focus area of Healthcare and Wellness. Almost every one of these ‘investment sub-groups’ expressed interest only because Healthcare segment is the most explosive worldwide.

This knowledge and more is readily available via WeFund Health platform when entrepreneurs in Healthcare and Wellness get matched to their potential investors or advisers. This is the value of the platform – along with a certain degree of automation, and certainly a lot of rigor during the on-boarding process.

In the end, the Summit and WeFund Health participation and leadership is going to bear fruit for many investors and startups/scaleups – whether through careful and well-curated matching, or via involvement of our teams and advisory board. The sense of unity and collaboration in Munich was synonymous with that of WeFund Health teams and participants – the next chapter will be even more exciting after WeFund Health helps EBAN community aggregate and filter out the best Healthcare and Wellness innovators and investors in European Union and beyond.

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