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UCSF Life Sciences: Week 6 Digital health: Partners



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  • 1. Partners Lean Launchpad: Digital Health UCSF Entrepreneurship Center November 5, 2013 Abhas Gupta, MD Mohr Davidow Ventures @abhasguptamd

  • 2. 2013 World Champions!
  • 3. DH Cohort Scorecard Product/ Market Fit Customer Growth BioMatch 3 2 1 Lift Hero 2 2 1 Making Friends 3 3 1 Resultcare 3 3 1 Sportzpeak 2 2 1 Tidepool 3 2 1 Team X Revenue & Costs Partners & Ops Demo product criteria: tests demand, drives traffic, validates problem, validates solution Demo Product
  • 4. Partnerships and Operations Next Week This Week Next Week Who are the key partners and suppliers needed to make the business model work?
  • 5. BIG IDEA: Keep things in perspective Big Corporate Partner You (Tiny Startup) Understanding each entity’s point of view
 is key to your mutual success
  • 6. Why Corporations Partner Access to Technology Branding & Marketing Favorable Economics Novel, disruptive, and/ or consumer-facing technologies Leverage partners’ brand (mostly larger companies, but startups too) Alignment of corporate financial interests ! Potential acquisition opportunities ! Customer demand ! Share in marketing costs (usually if really high) ! External dev costs < internal dev costs
  • 7. Why Startups Partner Access to Data Funding & Resources Payers & claims data; labs & diagnostic data; manufacturers & device data, etc. Clinical trials partners, development funds, intellectual capital, research capacity, etc. Access to Customers More Efficient Use of Capital Faster sales growth, new markets, better customer knowledge, etc. Broader product offering, focused development and execution, economies of scale Other reasons: shared economics, marketing/brand, lower friction/better fit with existing user behavior
  • 8. Types of Partnerships Strategic
 Alliances Joint New Business Development Efforts Key Supplier Relationships Traffic
 Partners Coopetition
  • 9. Strategic Alliances Round out the “Whole Product” Access Mainstream Customers MVP Generic Expected Additional functionality, shared U/X or data (EMRs), installation, tech support, peripherals, etc. Leverage existing channels, expand into new regions/ globally
  • 10. BIG IDEA: Partnership Timing New Market Existing Markets Hold off... Partner! It’s often suboptimal to partner early in new markets because innovators and early adopters are already enthusiastic!
  • 11. Joint New BD Efforts Co-Marketing
 At-Risk Organizations Co-Marketing
 Self-Insured Employers These hypothetical examples illustrate potential joint efforts; expect to see more of the former in coming years
  • 12. Coopetition Industry Groups Market Expansion Pharma Disease Awareness Campaigns Competing companies can still have mutual interests…
 so who’s starting the Digital Health industry group?
  • 13. Key Supplier Relationships Direct Suppliers Outsourcing Suppliers of data, enabling devices, etc. Clinical trials partners, telemedicine providers, HIPAA compliance, service APIs, etc.
  • 14. Traffic Partners Exchanging
 Contacts/Referrals Content Partners http://… Patient email lists, embedded links to partner sites, etc. Patient advocacy groups, related products, related online communities
  • 15. BIG IDEA: Find the “Right” Partner Bestows Unfair Advantages Good Synergy / Potential Acquirer Supports Your Independence Unique Data Access Same Customers ! ! Unique Distribution Channel Synergistic -ORHighly Disruptive Products Avoid “Most Favored Nation” clauses ! Unique Product Partnership ! Few Exclusivity Demands ! ! Growth Market Sales (pre-purchase) agreements > equity investments
  • 16. Key Partnership Risks Impedance Mismatch Customer Relationship Weak startup leverage, misaligned corporate incentives, different timelines Who owns the customer? Acquisition & retention attribution Development Challenges Stakeholder Issues Active vs. passive partners? Leading dev on some aspects but not others, etc. Different underlying objectives (personal vs. mutual success), churn in stakeholders Other risks: IP issues (China, etc.), difficulty unwinding partner relationships
  • 17. For Next Week We Need,
 They Need,
 The Cost... We Need Partner A Partner B … They Need The Cost Partner Relationships and Dollar Flows Partners’
 Pros & Cons (from their POV) Pros Cons
  • 18. Partners Lean Launchpad: Digital Health UCSF Entrepreneurship Center November 5, 2013 Abhas Gupta, MD Mohr Davidow Ventures @abhasguptamd