Ty Danco - Creating Effective Business Partnerships to Accelerate Innovation
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Transcript of Ty Danco - Creating Effective Business Partnerships to Accelerate Innovation
![Page 2: Ty Danco - Creating Effective Business Partnerships to Accelerate Innovation](https://reader035.fdocuments.net/reader035/viewer/2022071710/55a77bd31a28abb4668b45e8/html5/thumbnails/2.jpg)
Investors Think in Categories
Need to provide a mental model to make
sense of any new startup
“Good artists copy—great artists steal.”
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Models for HealthIT
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Investors Think in Categories
Need to provide a mental model to make
sense of any new startup
“Good artists copy—great artists steal.”
![Page 5: Ty Danco - Creating Effective Business Partnerships to Accelerate Innovation](https://reader035.fdocuments.net/reader035/viewer/2022071710/55a77bd31a28abb4668b45e8/html5/thumbnails/5.jpg)
Marketplaces
IT Equivalent: AirBnB; Uber
HIT Examples: ZocDoc; Careport Health
Services: Matchmaking; Scheduling; Billing
Business Model: Percentage of Sales
Key Factors: Vetting/”QC”; Access; Speed
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Network
IT Equivalent: LinkedIn; Facebook
HIT Examples: Doximity; Figure1,
TheRounds
Services: Facilitating Connections
Business Model: Ads; LeadGen
Key Factors: Scale; Membership
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Search/Discovery
IT Equivalent: Google; AppStore; Shazam
HIT Examples: MayoClinic; Dr. Koop;
Medivizor
Services: Answers/Diagnostics
Business Model: Targeted Ads; LeadGen
Key Factors: Accuracy; Speed
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Recordkeeping/Storage
IT Equivalent: Mint
HIT Examples: EPIC (RIP: GoogleHealth,
MS HealthVault)
Services: Connecting to APIs; Data
Retrieval
Business Model: Subscription
Key Factors: Access; UI; Connectedness;
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Cloud Computing
IT Equivalent: Amazon AWS; Palantir
HIT Examples: Drug Discovery IT
Services: Big Data
Business Model: Subscription
Key Factors: Quality of Data; Algorithms;
ML; Robustness
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Publishing
IT Equivalent: Medium; Twitter; Facebook;
Meerkat
HIT Examples: Public Library of Science;
PLoS Medicine
Services: Amplification of Message
Business Model: Two-Sided Market?? Ads
Key Factors: Info wants to be free
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Quantified Self
IT Equivalent: Runkeeper; Fitbit; Withings
HIT Examples: 23&Me; Ginger.io
Services: Data capture
Business Model: Razor or Blades?
Key Factors: Passivity; Value of Data
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Takeaways Investors seek to categorize; they see 1000s of
pitchers a year
“Pattern Recognition” is the fallback for most investors
Lessons learned: Business model must be appropriate for use case
Must be scalable
Must be 10x better than alternatives in some way
Great artists steal—look for solutions across verticals
Focus on solving the problem, not inventing a new business model