Min-Sung Sean Kim
Min-Sung is Partner at XLHEALTH, a Berlin-based venture capital fund specializing in Digital Health Series A investments. He believes that healthcare startups with innovative solutions have the potential to create impactful social change. Having been an entrepreneur before, he understands the challenges and difficulties of building up a company and hopes that this blog www.DigitalHealthVC.com will serve as a helpful resource for digital health tech startups in the region. In leading the analyst team at XLHEALTH, Min-Sung has seen more than 2300 digital health startups in Europe. Additionally, he invested in startups including mySugr, Meedoc, Neuronation and Harimata. Prior to joining the XLHEALTH team, he founded and sold his first business. Previously, he conducted seed investments with Lakeside Ventures.
Abstract of the presentation
In the future of medical treatments, software will become equally as important as the knowledge of doctors. When you think about the current devices used in clinics, they depend more on the software built into them then on the people executing the therapy. This provides a great opportunity for people without medical degrees to influence the future of the healthcare system by starting their own Digital Health company. Why is the timing favorable to start your company right now? The public is increasingly accepting Digital Health solutions such as using wearables or treatment/diagnosis apps. This provides a big opportunity for entrepreneurs and it’s just getting started. What is there to focus on if you want to start your own Digital Health company? The retention of a consumer facing app is crucial to show that the product or service creates value for the people. After having created this value the B2B monetization can follow.
The presentation will give an overview and trends of the digital health ecosystem and some practical advice for entrepreneurs.