Hugh Mason gave this keynote presentation at the Media Exploits 2015, SE Asia's largest Infocomm Media Technology commercialisation showcase and networking event, held in Singapore. Seismic macro-level trends are disrupting the healthcare industry, opening up new opportunities for innovation. Lean Startup is one of a range of tools and approaches that help to provide a patient-centred approach to making sense and making money in the new landscape.
1. The Lean Startup
Model for Healthcare
Day 2, 5th November 2015, Morning session 10.00am-10.30am
Matrix Level 4, Breakthrough+Discovery Theatres
Hugh Mason, Co-founder and CEO, JFDI.Asia
hugh@jfdi.asia @hughmason
79 Ayer Rajah Crescent #03-01 Singapore 139995
With thanks to:
JFDI Clients & Colleagues, Stuart Smith and Alex Danco for inspiration.
This presentation includes numerous borrowed graphics, to which I hope I have
included attribution. If not my apologies - please allow me to correct any omissions
2. Coming Up
Introducing JFDI
1. Why Lean Startup Matters for Healthcare
2. How Lean Startup Does and Doesn’t Work
3. What are Some Opportunities for Singapore?
Suggestion: Q&A at panel 10:45
3.
4.
5. ● First ASEAN startup accelerator, backed
by IIPL, Fenox VC, Family Offices, HNWI’s
● Accelerator has attracted over 2,000
startup teams from 80+ countries.
● Pre-Accelerator has supported 250 teams
comprising 900 people via MOOC
● USD2m pre-seed capital deployed into
69 startups, >50% raised median
USD550k
● No exits yet but 48% IRR (unrealized).
● Over 300 jobs created, >50% of which are
in Singapore and >50% filled by SCPRs.
● Team of 16 split Singapore-Philippines.
● Pioneered Lean Startup and disciplined
JFDI.Asia
21. MarketRisk-Shoulditbedone?
Technology Risk - Could it be done?LOW HIGH
HIGH
Tech2Market - Vision Driven
“Teams that pursued traditional methods of
starting a company had an 18% success
rate in receiving SBIR Phase I funding”
(Blank 2013)
22. MarketRisk-Shoulditbedone?
Technology Risk - Could it be done?LOW HIGH
HIGH
Market2Tech - Discovery Driven
“Teams that … took the Lean Launchpad
class ... had a 60% success rate”
(Blank 2013)
34. “The assumption that the pursuit of drugs, diagnostics,
devices and digital health is all about the execution of the
science is in most cases a mistake.” (Blank 2013)
35.
36. Conclusions - 1
• Healthcare is a business
• Business model innovation matters as much as science.
• We can choose how we bundle components of
healthcare.
• New frameworks for innovation let us test critical
hypotheses relating to regulation, customers and funding
before we commit significant resources to science.
37. Conclusions - 2
The way forward is to:
• assess regulatory risk before we design and build.
• gather data essential to understand customer purchases
before we do the science.
• define clinical utility now, before we spend millions of
dollars.
• identify financing vehicles before we need them.