Building anything in the HealthTech and MedTech space can be difficult. The industry is heavily regulated, requiring compliance with strict standards and often hard to navigate approval processes.
But health-focused founders are passionate about what they do and want to see their medical innovations come to life. So how can up-and-coming founders navigate this complicated industry space?
We went straight to the professionals to get advice. We asked founders, investors, and ecosystem builders all the same one question:
What is one piece of advice you’d share with someone looking to build in the MedTech/HealthTech space?
Their advice just might help the next MedTech/HealthTech leader get off the ground successfully.
Here is their HealthTech Advice:
Maria Toler, Founding Partner at Atlanta-based SteelSky Ventures
SteelSky Ventures invests in companies that improve access, care and outcomes in Women’s Healthcare. It closed a $72 million fund in 2022.
Toler’s Advice: “Approach the MedTech/HealthTech space with enthusiasm and don’t be afraid to explore ideas that haven’t been tried before—we need new innovations to transform and improve our healthcare system. However, to turn these new bold ideas into reality, understanding and navigating the regulatory landscape is essential. While this can be quite complex, it’s crucial for bringing innovations to market safely and effectively. Partner with regulatory experts early on and stay committed to your vision—your perseverance will enable you to make a meaningful impact on healthcare.”
Julia Schuller, Co-founder & CEO at Nashville-based Bloom Health
Bloom Birth Control is a natural birth control app that identifies a woman’s unique fertile window via a proprietary algorithm.
Schuller’s Advice: “Many medtech and healthtech startups struggle to fund their groundbreaking innovations due to regulatory hurdles, often getting stuck in “The Valley of Death.” While clinical research and regulatory compliance are vital, founders should think about potential buyers from day one. Investors want to see a clear exit strategy early on. If you can demonstrate how your innovation will improve lives and offer a return on investment, you’ll be more successful in securing the necessary funding.”
Lucienne Ide, MD, PhD, Founder and CEO of Rimidi, a venture-backed digital health company for remote patient monitoring and chronic disease management.
Ide’s Advice: “Achieving success within the HealthTech space requires a deep understanding of the problem you’re solving and who your customer is – whether it’s patients, providers, payers, or employers. Identify your segment of the market and apply laser-like focus to further your understanding of who benefits financially, clinically, or otherwise. It’s equally important for those in the industry to have a clear purpose that drives them forward on tough days. In HealthTech, complexity and regulatory hurdles can be overwhelming, so having a “North Star” can anchor and motivate you. For me, it’s the potential to transform lives and improve outcomes — it moves me to face challenges head-on and inspires our team to continuously innovate.”
Jaimie Clark, Head of Innovation at Atlanta-based Catalyst by Wellstar
Clark’s Advice: “My advice to future Health Tech founders is to validate their problem statement and solution early and often. Find ways to get feedback and learn about the nuances of healthcare from those closest to the patient as soon as possible.”
John P. Sheehan, Founder & CEO at VFlok Inc
VFlock is an AI-powered shift scheduling platform created by Catalyst by Wellstar, an innovation incubator and venture firm created by Wellstar Health System of Georgia and High Alpha Innovation.
Sheehan’s Advice: “My one piece of advice to those building in MedTech/HealthTech is don’t spend time and money developing what you think the market wants. Instead, get a beta product in the hands of users as soon as you can and let their feedback and data inform product design.”
Ann Holder, Co-founder and CEO of prenatal care platform Marani Health
Holder’s Advice: “One piece of advice I’d share with someone looking to build in the MedTech/HealthTech space is to prioritize addressing the real needs of the healthcare ecosystem, which includes patients, healthcare providers and those who carry financial risk for care. Innovation is essential, but its true impact comes when it’s deeply rooted in practical, user-centric solutions. Stay focused on empathy, collaboration, and continuous learning to create technologies that genuinely improve lives.”
Jennifer Newell, Founder & CEO at Betty’s Co.
Newell’s Advice: “Identify your main customer and know them better than anyone else. In healthcare, the buyer isn’t always the end-user or consumer. Not understanding the dynamics between the different types of customers and whose problems you’re ultimately trying to solve can lead founders down a wrong path. Without this clarity, founders can struggle trying to find product-market fit because of muddy waters.”
