The description of Health 2.0 can be summarized as the use of technology to support health care collaboration by using a specific set of Web tools, such as podcasts, blogs, tagging, message boards, search, wikis, and social networks. Specialists, primary doctors, scientists and a community of patients, are currently using the Internet to provide medically-related content in order to personalize, exchange knowledge, provide opinions of healthcare, and promote health education.
An important factor of Health 2.0 figures in giving the patient the increased ability to have greater insight and control of medical information created about them. This approach is meant to improve the efficiency, quality and safety of health care. Health 2.0 refers incorporates is related to telemedicine, electronic medical records, mHealth, and Connected Health. A Health 2.0 company supplies Web 2.0 technologies within the context of current healthcare reform settings to gather and analyze available information and advise consumers on how to make sound healthcare decisions based on its value. A new Health 2.0 startup company can receive funding in three major ways:
Crowdfunding- A large group of people collectively pool and network their funds together for a cause.
Ventured Capital Funding- Provides adequate funding for the growth of a business through investors. Venture capital investors will expect to profit tremendously from a startup company. They have put certain guidelines in place whenever considering to finance companies. Therefore, a Health 2.0 company must prove that their business will offer a noticeable, service or product that is unique to a large group of people, will gross at least $25 million in three years, will be able to compete and become a leader against rivaling companies in their sector, and will need a massive amount of funding to operate. Once a Health 2.0 business receives funding, they can then decide to utilize the services of a business incubator.
Business Incubator
Business incubators are various programs designed to support the successful development of startup Health 2.0 companies through a range of support services and resources generated and overseen by incubator management along with its sister contacts. Successful completion of a business incubation program increases a startup company’s potential to stay in operation for the long term. However, startup companies who are interested in being admitted into a business incubation program must fit their criteria before being accepted. Although these programs differ from one another, they generally accept companies that have effective ideas and a feasible business plan.
Moderated by Unity Stoakes, the subject of StartUp Health 2.0 companies will be discussed at the 6th Annual Fall Conference in San Francisco. The conference will educate attendees of the latest technologies in Health 2.0 and will host a roster of leading thinkers to engage them in-depth discussions of how new technologies will be presented and woven into healthcare from a global perspective. The universal evolution of healthcare will be presented in progressive stages over two days to enlighten everyone attending the conference on how Health 2.0 affects every aspect of an individual’s life.
A key segment of the conference will be addressed towards individuals who are presently interested in launching a Health 2.0 startup company. The conference’s aim is to bring in healthcare related speakers together to answer questions and discuss the unique offerings and challenges of funding sources while providing demos of various funding models to educate entrepreneurs about the best financing routes available for them. Guests speakers that will appear at the Health 2.0 Conference will include:
Anne Degheest- Founder of HealthTech Capital and MedStars Ventures Partners, is comprised of venture capitalists, private angel investors, and other industry participants that finance and mentor new Health startup companies.
Pat Salber- Founder of Health Tech Hatch, provide entrepreneurs with the capability to crowdfund their new ideas and get feedback from patients and industry experts.
Mike Norman- Founder of Wefunder.com is a popular platform that has accepted pledges from 7,800 investors willing to finance over $22 million in Health 2.0 startups companies.
Margaret Laws- Is using $10 million of innovation modeled funding on social venture capital.
Brad-Weinberg- Founder of ShapeUp, it is presently training start-ups companies at New York City‘s Techstars affiliated incubator Blueprint Health.
Alex Fair- Currently running the Health 2.0 NYC chapter, he is also the co-founder of MedStartr.com along with Mike Pence. MedStartr.com is the first crowdfunding platform designed for healthcare.
Paula-Gill- Co-founder of CareHubs, this business uses the power of social networking to healthcare. CareHubs is using its networking tools to provide communities with support from health tech startups.