Polte and the rising Finnish healthtech stars
Inspired by the thriving healthtech ecosystem in Finland created by HealthSPA and the Upgraded Life Festival among others, we would like to take a look at the ecosystem that produces several excellent startups in the fields of digital health and medical technology. Reaktor Polte has been backing some of the most ambitious teams like Mendor, Nursebuddy and NetMedi. So what is the secret behind so many rising healthtech stars coming from Finland?
1. Startup drive
Of course, drive is the key ingredient for creating something new. Big and established organizations are often not the best for creating innovative solutions or utilizing new opportunities. Changes have been traditionally slow, especially in the heavily regulated healthcare field.
However, as the pressure on healthcare resources keeps on growing, digitalization comes in as a tool that helps healthcare providers develop better treatments, more effective processes, and to empower patients. We have clearly seen that with a strong drive and passionate attitude, we can make a significant difference improving patient-centered healthcare. The needed startup drive is wonderfully encouraged by organizations like HealthSPA, SLUSH and Startup Sauna.
2. Industry experience
Drive and enthusiasm are not enough for creating success stories: strong experience in the field of healthcare business is also needed. NetMedi has been lucky to have truly experienced advisors and angel investors supporting us from the very beginning. Healthtech is the biggest export industry among hightech for Finland.
Our chairman of the board, Mr Sami Erviö, perfectly embodies the strong healthcare industry experience that we have in Finland. Sami has a wide international experience in the healthcare IT business as he served as the Managing Director of Datex-Ohmeda Europe as well as as the Integration Leader of GE Healthcare. Sami brings his strong industry experience to NetMedi, guiding our roadmap towards international growth.
3. Software skills
Finland is known for its advanced engineering knowhow. Lately, software engineering, especially gaming, has been a hot topic with us, due to success stories like Angry Birds and Supercell. One software success story is, of course, Reaktor.
Reaktor has a VC fund called Polte, investing in the most ambitious teams in Nordics. To our great joy, NetMedi and Reaktor found each other. Together, we create exceptionally well-functioning digital services for the benefit of healthcare. ‘Exceptionally well-functioning’ must be the standard in healthcare, too!
What else is needed to create success stories in healthtech? Well, the collaboration with clinical practitioners and leading medical research is no doubt crucial. Finland has a very high level of medical research and expertise in many special fields too, oncology as a one example. We are honored to work with many of the very best domestic and international medical experts.
Happy to hear your thoughts on what explains the high level of excellent healthtech startups in Finland!
– Lauri Sippola, CEO and Co-founder at NetMedi