from science to innovation to wellbeing · design, innovation, med-tech acceleration firm:...
TRANSCRIPT
From Science to Innovation to Wellbeing
– Why am I here
– What matters to healthcare
– What matters to MNEs selling to healthcare
– Canadian platform for accelerated product development in digital health
– Case Study: Neurotech
Agenda
3. Board Director: Health Quality Innovation Collaborative, SensoryTech, ICFITT/Russia-Canada Tech Transfer
4. Entrepreneur: Cogniciti, Konona Health Tech
1. Researcher: Moscow University, Livermore National Lab, California
2. Investor: GATX Capital, San Francisco, MaRS Venture Group, Toronto
Build great companies Develop a vibrant innovation hub
Strengthen Canada’s global innovation brand
Because the future matters
VENTURES
Accelerate and grow entrepreneur-driven,
high-impact ventures
from startup to
scale/impact.
SYSTEMS
Scale and diffuse innovation through
collaborative initiatives
that open markets and
create new solutions.
TALENT
Attract and develop Canadian innovators,
and equip them with the
skills, tools, intelligence
and networks they need
to thrive in the
innovation economy.
Pg 5
Transform clinical “know-how” of the leading Memory Research center into a consumer
health web app
Konona Health Tech’s mission is to lower health care costs by investing in innovative, consumer-centered solutions
WHAT MATTERS TO HEALTHCARE Not a technology fix, change in practice!
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The value of devices no longer resides only in the product itself. Today the value is in medtech companies’ ability to provide information and services to customers, to solve larger problems such as improving outcomes, operating room efficiency, reducing length of hospital stays, and avoiding unnecessary readmissions
Challenge:
Pre-Diagnosis
Interventions
Treatment Decision
Parameters
Health Outcomes
Patient – Physician Dialogue
How to Achieve Shared Accountability Along Patient Journey?
New models of care are focusing on “staying left” Technology helps healthcare professional to target attention
Market Appetite For
• Digital devices that capture clinically valuable data for improving healthcare workflows
• Connect into existing IT ecosystem
• “Accountable Tech”, pay for itself based on diagnostic, therapeutic, or other outcomes
• De-skilling, not a technology fix but expanding access to care or scope of services
WHAT MATTERS TO MNE SELLING TO HEALTHCARE
New Business Models
The market is demanding a new approach to innovation in medtech
The value of devices no longer resides only in the product itself. Today the value is in medtech companies’ ability to provide information and services to customers, to solve larger problems such as improving outcomes, operating room efficiency, reducing length of hospital stays, and avoiding unnecessary readmissions. Source: PWC Global Medtech
CEO survey, 2013
Lessons from innovation practitioners: successful innovations involve at least 4 types of innovation
Source: Larry Kelley, Monitor
Nimble innovative teams create massive value for large players in the healthcare sector
Canada: innovation launch pad
• Living Lab
• Single Payer System
• R&D incentives
Canada
• Dynamic market
• New payment models
United States
Health Transformation
2020
EU
BRIC
A start-up is a temporary organization designed to search for a sustainable business model. Steve Blank
Research
Applied University Chairs
R&D clusters
Imaging, Neurotech etc.
Innovation
Federal SR&D tax credits
Health Sciences Centres
MaRS
EXCITE
Development
IRAP funding to companies
Canada Infoway and eHealth Funding for local implementations
Thought Leadership in Clinical Evaluative Science
Nurturing entrepreneurial
ventures in health is a key
focus of Federal and Provincial
governments in Canada
Entrepreneur
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Neuroimaging
Clinical
Genomics
Proteomics
Other
Ce
reb
ral P
alsy
Au
tism
AD
HD
Epile
psy
Oth
er
Bra
in D
iso
rde
rs
Dat
a M
od
alit
ies
Disease-themed, multidisciplinary collaborations collecting multiple modalities of
data and integrating into clinic
VitaSound Audio Inc
Patented Neuro-Compensator is a ‘best-in-class’ technology, which significantly improves the listening experience by improving the clarity, crispness and naturalness of sound.
NeuroVox Inc Uses electroencephalography (EEG) to measure brain response relevant to mental functions of concern in brain injury/concussion.
Avertus Epilepsy Technologies Inc The SMART Headset (Seizure Monitoring at the Right Time) is a monitoring and detection system, provide an objective measure of seizure occurrence to assess drug efficacy.
Neurotech Cluster
Konona Health designed as Corporate Garage
Healthcare is increasingly shifting away from hospitals
and providers with consumers and patients taking more
responsibility and interest for their own care. We build
companies that support this transition.
– Products that keep consumers healthy and
self-sufficient. Focus on devices and software
promoting cognitive and sensory health, and
providing for self-regulation and the
convenience of connected care.
– Products for both payers and providers that
help them direct attention to at-risk populations
and allocate resources wisely. Focus on data
visualization, analytics, and solutions that
expand revenue opportunities and reach into
the community.
• Target 25% IRR
• Investment horizon: 5 years
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Strategic Location Hamilton-Niagara, ON, Canada healthcare community (pop. 1.2 million) has a track record of pioneering Health IT implementations and has already deployed an integrated IT system across the region. Leadership of the local health authority is enthusiastic about working together with innovators to generate the evidence necessary to support clinical and business process re-design and to create feasible revenue models.
A company’s choice of markets and M&A is 4x more important that outperforming in its markets.
McKinsey &Co, 2007
ISO 13485:2003
Design, Innovation, Med-tech acceleration firm: multidisciplinary team: Strategists, Engineering, Industrial Design, QA RA, Prototyping, Manufacturing, ISO 13485, Med-Tech startup savvy Integrated set of services and infrastructure designed to identify and bridge gaps, incubate and accelerate Med-tech companies by focusing on building their technology and product to commercial grade and market readiness Core knowledge: Strategy; increasing valuation, managing risk. Execution; Med device development, Industrial Design. Manufacturing; NPI and design for scale-ability
Konona Health Tech Capabilities
EXCITE moves the Health Technology Assessment and Comparative evaluation from a punitive gate to a product optimization tool in partnership with a leading healthcare
customer, Ontario health system.
Provides medtech companies with valuable evidence and business requirements — key information for regulatory reviews, reimbursement reviews and
competitive positioning
My values guide me: intellectual curiosity,
hard work, honesty, humility, empathy and
transparency
Veronika Litinski
Chief Executive Officer
Konona Health Tech
M: 647.309.9043
W: www.kononahealth.com
@VL_MaRS
BLOG:http://www.marsdd.com/tag/veronika-litinski/