frontiers.health
The Rise of Startups in the European Digital Health Ecosystem: Opportunities and Challenges
%5Bvc_row+full_width%3D%22stretch_row_content_no_spaces%22+equal_height%3D%22yes%22%5D%5Bvc_column%5D%5Bvc_single_image+image%3D%224878%22+img_size%3D%22full%22+alignment%3D%22center%22%5D%5Bultimate_spacer+height%3D%2230%22+height_on_tabs%3D%2215%22+height_on_tabs_portrait%3D%2215%22+height_on_mob_landscape%3D%2215%22+height_on_mob%3D%2215%22%5D%5B%2Fvc_column%5D%5B%2Fvc_row%5D%5Bvc_row+css%3D%22.vc_custom_1561037856751%7Bpadding-top%3A+20px+%21important%3Bpadding-bottom%3A+20px+%21important%3B%7D%22%5D%5Bvc_column%5D%5Bvc_column_text+el_class%3D%22post-text%22%5DEurope+is+booming+as+a+startup+hub+in+all+things+digital.+According+to+Atomico%E2%80%99s+%3Ca+href%3D%22https%3A%2F%2F2018.stateofeuropeantech.com%2F%22+target%3D%22_blank%22+rel%3D%22noopener+noreferrer%22%3EState+of+European+Tech%3C%2Fa%3E+report%2C+total+investment+in+%3Cstrong%3EEuropean+startups+reached+%2423+billion+in+2018%3C%2Fstrong%3E+-+compared+to+%245+billion+in+2013.+The+figures+show+that+startups+are+a+significant+driver+of+growth%2C+jobs+and+in+particular%2C+better+healthcare.%0D%0A%0D%0AFrom+mHealth+to+digital+therapeutics+and+AI+applications+for+precision+treatment%2C+the+digital+health+startup+ecosystem+is+expanding+thanks+to+startups%E2%80%99+innovative+solutions+disrupting+traditional+health+systems.+%3Cstrong%3EDigital+health+is+increasingly+becoming+part+of+the+mainstream+in+healthcare%3C%2Fstrong%3E.+This%2C+in+return%2C+is+encouraging+pharmaceutical+companies%2C+research+institutions%2C+healthcare+professionals+and+other+stakeholders+to+cooperate+with+startups.%0D%0A%0D%0AStartups+in+digital+health+and%2C+in+particular%2C+digital+therapeutics+are+also+reshaping+the+industry+perspective+on+healthcare+by+shifting+the+focus+to+the+patient%E2%80%99s+experience.+This+disruption+is+also+a+result+of+a+demand+from+patients+and+healthcare+providers+for+more+empowerment+through+technological+innovation.+According+to+the+%3Ca+href%3D%22https%3A%2F%2Fwww2.deloitte.com%2Fglobal%2Fen%2Fpages%2Flife-sciences-and-healthcare%2Farticles%2Fglobal-health-care-sector-outlook.html%22+target%3D%22_blank%22+rel%3D%22noopener+noreferrer%22%3E2019+Global+Health+Care+Outlook+report%3C%2Fa%3E+by+Deloitte%2C+global+health+care+expenditures+are+expected+to+continue+to+rise+as+spending+is+projected+to+increase+from+USD+%247.7+trillion+in+2017+to+USD+%2410.06+trillion+in+2022.+Allowing+patients+to+self-manage+the+diagnosis+and+treatment+of+certain+conditions+and+better+doctor-patient+coordination+is+the+future+of+healthcare+and+startups+are+key+to+this+change.%0D%0A%0D%0ARecent+examples+such+as+London-based+%3Cstrong%3EBabylon+Health%3C%2Fstrong%3E+raising+%24550+million+in+a+Series+C+funding+show+that+the+digital+health+startup+ecosystem+in+Europe+is+thriving.+Yet+many+startups+struggle+in+the+highly+specialised+and+regulated+healthcare+sector.+Startups+need+to+go+through+complex+clinical+and+regulatory+processes+even+before+entering+the+market%2C+and+many+scientific%2C+regulatory+and+financial+hurdles+come+up+in+the+process+of+bringing+solutions+to+the+intended+users+-+healthcare+providers+and+patients.+Recruiting+and+retaining+the+right+talent%2C+keeping+up+with+regulatory+regimes%2C+and+difficulty+in+accessing+partnerships+or+funding+can+prevent+startups+from+reaching+full+potential+or+can+push+them+to+look+for+markets+outside+Europe.%0D%0A%0D%0AThese+challenges+are+unfortunately+not+unique+to+startups+in+the+digital+health+landscape.+There+is+clear+evidence+of+a+desire+to+%3Cstrong%3Ebuild+bridges+between+the+tech+and+policy+spheres%3C%2Fstrong%3E+in+Europe.+According+to+the+same+report+by+Atomico%2C+the+majority+of+founders%2C+investors+and+policymakers+in+Europe+agree+that+European+regulation+makes+it+harder+to+start+and+scale+a+tech+business+and+that+there+should+be+stronger+ties+between+European+tech+startups%2Fscaleups+and+governments.%0D%0A%0D%0AStartups+move+and+speak+differently+to+traditional+providers+and+this+has+to+be+reflected+in+the+approach+of+governments+to+regulating+digital+health.+They+can+do+much+by+themselves+with+the+right+team+and+product+in+place.+Once+that+is+the+case%2C+an+easier+start+for+startups%2C+safe+spaces+for+innovation+-+such+as+regulatory+sandboxes+-+and+an+increased+emphasis+on+assisting+startups+when+it+comes+to+implementing+policies+can+remove+the+barriers+to+digital+innovation%2C+particularly+in+healthcare.+More+and+closer+collaboration+with+partners+from+health+management%2C+industry+and+research+are+also+essential.%0D%0A%0D%0ANavigating+the+policy+environment+can+be+complicated+and%2C+due+to+lacking+resources%2C+is+not+always+a+priority+for+entrepreneurs.+In+order+to+build+laws+that+empower+them%2C+startups+in+the+digital+health+ecosystem+in+Europe+need+to+have+a+strong%2C+unified+voice+vis-%C3%A0-vis+policy+and+regulation.%0D%0A%0D%0AOrganisations+like+%3Ca+href%3D%22http%3A%2F%2Falliedforstartups.org%2Fdtx%2F%22+target%3D%22_blank%22+rel%3D%22noopener+noreferrer%22%3E%3Cstrong%3EAllied+for+Startups+DTx%3C%2Fstrong%3E%3C%2Fa%3E+can+bundle+the+ambitions+and+concerns+of+entrepreneurs.+If+everyone+gives+a+little+push%2C+together+there+can+be+a+big+shove+towards+a+regulatory+framework+that+is+flexible+enough+for+startups+to+inject+the+innovation+that+can+bring+healthcare+improvements+to+millions.%0D%0A%3Ch4%3EThis+artcile+has+been+written+by+Allied+for+Startups+Dtx%2C+Knowledge+Partner+of+Frontiers+Health+2019.%3C%2Fh4%3E%0D%0A%5B%2Fvc_column_text%5D%5Bvc_cta+h2%3D%22Showcase+your+company+at+%23FH19%21%22+h4%3D%22Apply+by+Sept+11+and+get+the+opportunity+to+present+your+company+to+a+panel+of+leading+experts+and+top+investors%22+txt_align%3D%22center%22+add_button%3D%22bottom%22+btn_title%3D%22APPLY%22+btn_align%3D%22center%22+btn_link%3D%22url%3Ahttps%253A%252F%252Fapplication.frontiershealth.co%252FApply%252F%7C%7C%7C%22%5D%5B%2Fvc_cta%5D%5B%2Fvc_column%5D%5B%2Fvc_row%5D%5Bvc_row+css%3D%22.vc_custom_1561037874898%7Bpadding-bottom%3A+20px+%21important%3B%7D%22%5D%5Bvc_column%5D%5Bvc_empty_space+height%3D%2245px%22%5D%5Bvc_custom_heading+text%3D%22MORE+STORIES%22+font_container%3D%22tag%3Ah1%7Ctext_align%3Acenter%7Ccolor%3A%2523de3014%22+use_theme_fonts%3D%22yes%22%5D%5Bcarousel_slide+id%3D%224048%22%5D%5Bvc_empty_space+height%3D%2245px%22%5D%5B%2Fvc_column%5D%5B%2Fvc_row%5D%5Bvc_row+full_width%3D%22stretch_row%22+bg_type%3D%22image%22+parallax_style%3D%22vcpb-default%22+bg_image_new%3D%22id%5E1916%7Curl%5Ehttp%3A%2F%2Ffh2019.stage.healthwareinternational.com%2Fwp-content%2Fuploads%2F2019%2F03%2Fbktg-frontiers-health-01.png%7Ccaption%5Enull%7Calt%5Enull%7Ctitle%5Ebktg+frontiers+health-01%7Cdescription%5Enull%22+bg_image_repeat%3D%22no-repeat%22+css%3D%22.vc_custom_1561456131965%7Bbackground-color%3A+%23000000+%21important%3B%7D%22%5D%5Bvc_column+width%3D%221%2F6%22%5D%5Bvc_empty_space+height%3D%2210px%22%5D%5B%2Fvc_column%5D%5Bvc_column+width%3D%222%2F3%22%5D%5Bvc_empty_space+height%3D%2245px%22%5D%5Bvc_single_image+image%3D%221120%22+img_size%3D%22medium%22+alignment%3D%22center%22%5D%5Bvc_empty_space+height%3D%2210px%22%5D%5Bvc_separator+color%3D%22white%22+border_width%3D%222%22+el_width%3D%2250%22%5D%5Bvc_empty_space+height%3D%2210px%22%5D%5Bvc_column_text+css%3D%22.vc_custom_1553793983115%7Bmargin-top%3A+15px+%21important%3Bmargin-right%3A+15px+%21important%3B%7D%22%5D%0D%0A%3Cp+style%3D%22text-align%3A+center%3B%22%3E%3Cspan+style%3D%22color%3A+%23fff%3B%22%3EIF+YOU+WOULD+LIKE+TO+TAKE+PART+IN+THE+EVENT%2C%0D%0AOR+BE+THE+FIRST+TO+FIND+OUT+ABOUT+OUR+2019+EDITION%0D%0A%3C%2Fspan%3E%5B%2Fvc_column_text%5D%5Bvc_btn+title%3D%22CONTACT+US%22+style%3D%22custom%22+custom_background%3D%22%23de3014%22+custom_text%3D%22%23ffffff%22+align%3D%22center%22+link%3D%22url%3Ahttps%253A%252F%252F2019.frontiershealth.co%252Fpage%252F1403926%252Fcontact-us%7C%7Ctarget%3A%2520_blank%7C%22+css%3D%22.vc_custom_1556782241429%7Bmargin-right%3A+15px+%21important%3Bborder-radius%3A+20px+%21important%3B%7D%22%5D%5Bvc_empty_space+height%3D%2245px%22%5D%5B%2Fvc_column%5D%5Bvc_column+width%3D%221%2F6%22%5D%5B%2Fvc_column%5D%5B%2Fvc_row%5D%3C%2Fp%3E