Russia has investors willing to invest in medical startups

Russia has investors willing to invest in medical startups A conference Medical startup is possible! of Healthcare Networking cycle of events of the Association of Medical startups MedStart took place on October 29, at the Digital October Center. The main purpose of the conference was to show that entrepreneurship in medicine is possible, and investors are interested and willing to invest in projects of their interest.

The event includes two stages: the first stage was devoted to projects working in the industry, their experience, problems and solutions. The second stage was a discussion of investors on the problems of the industry, start-ups' problems, and the willingness to invest in general.

Some projects presented their developments at the conference. Thus, Regeneks company offered an innovative solution in the treatment of multiple sclerosis and other autoimmune diseases. Regeneks is going to cooperate with any medical institutions throughout Russia in the future, and they have already applied for a patent and become the residents of Skolkovo.

TimeToVisit is Russian equivalent of ZocDoc. The project proposes to address the problem of reception offices visiting, providing an on-line appointment service in dental clinics. TimeToVisit was launched four months ago by the AddVenture fund, a developer of websites ITECH Group and the founder of MONE network of beauty salons Alexander Glushkov. The partners have invested $5M in the service.

All attention at the second part of the conference was paid to the speeches of investors. The main topic of the discussion was the prospects of investment in the sector, the main criteria investors choose projects by, as well as tools that are or should be available in biomedicine.

Investors noted that the market has about six accelerators at the moment (such as i-accelerator, MedXPoint, StartupMagic, Biotech Access) that are ready to support medical startups, provide funding and work with the experts.

After the discussion, it became clear that Russia has investors and accelerators that are ready to invest in projects, develop ideas and promote the market of medicine. Certainly, the industry has such systemic problems as the complexity and slowness of the legal process, the gap between scientists working in Research Institutions, and people with entrepreneurial spirit who could develop and commercialize their developments. But both sides are trying to solve the problems, bringing the market to a new level.