AI Healthcare concept
(Mods: move to off topic if concepts more in the angel investing stage like this should go there)
I had a few closely related AI concepts for the healthcare industry, and the timing seems right for execution. I had the idea and pitched it during my MBA roughly 7-8 years ago, but the timing may have not been right then.
A week or two ago, I ran an experiment to find out what someone in that industry actually thinks of the ideas by sending the ideas to someone I knew who worked at a large AI firm active in the healthcare space. They tried to turn on vanishing messages mode and cut off communication with me. I suspect that they likely did this in an attempt to delete evidence they got ideas from someone else... which means its very likely an attractive venture opportunity / concept for companies in that field.
Basically there are two concepts: Since I have personally observed doctors prescribing tons of drugs at the same time especially in the elderly, even when they are not supposed to be combined, obviously no doctor can know every possible drug interaction with every other drug. Thats assuming that they are all known to the medical community to begin with. So, simply have a backend system that checks the drugs someone is being given to make sure there are no combination issues. Taking this a step further, use AI to come up with potential, currently unknown issues based on that persons medical profile and what is known in the body of knowledge for drug effects etc.
The second concept is to have sort of a "calling card" on a display at all times with the patient in treatment that lists the top 5-10 (or any other number, or all of them, etc) most likely issues or mistakes that can happen based on historical medical mistakes and issues. Again, it can be made simple just like the previous idea, and taken further with the help of AI that takes more into account than simple statistics.
Anyway,
What are the best ways to pitch an idea like this to the right people / companies?
Based on the most helpful WSO content, here’s how you can effectively pitch your AI healthcare concepts to the right people or companies:
1. Refine and Validate Your Concept
2. Target the Right Audience
3. Craft a Compelling Pitch
4. Leverage Networking
5. Protect Your Idea
6. Seek Feedback and Iterate
By following these steps, you can position your AI healthcare concepts as attractive opportunities for investors and companies in the field.
Sources: For Reál | The Daily Peel | 1/23/23, Stock Pitch Sample Template - Proven Examples to Help Ace Your Interview, Q&A: F20 Strategy Director at 25 Y/O, https://www.wallstreetoasis.com/forum/investment-banking/questions-about-healthcare-banking?customgpt=1, Biotech finance: from IB to VC / HF to funded startup
Ideas are worthless, execution is everything. What is your goal here? Are you trying to do this yourself? No one gets paid for an idea so I'm not sure who you're pitching this to if you're not willing to roll up your hands to start building.
"Ideas are worthless" is the dumbest line in the history of the world since the invention of the cave or making a fire.
Let me break it down for you further in math terms: one out of a million can come up with good ideas, while most can implement most good ideas. Humans don't even exist much less thrive and dominate without good ideas. The truest form of value creation is good ideas.
If nothing exists without execution, then what exists without good ideas? Less than nothing because of all of the wasted labor, followed quickly by human extinction.
Can you give me a bit more background on your experience?
I'm genuinely trying to help here as someone that has had lots of "ideas" but then actually executed one. Coming up with the idea was easy, actually implementing and building a company around it is exceedingly difficult.
For reference, I'm a co-founder of a Series B company that's been around for half a decade and before that I was in VC.
I recognize I probably came off as harsh in my initial response but I'm not here to play "yes and" with you. If you want real advice, give more context.
"What is your end goal?"
You think that's a joke.... Do you?
Concept one old and told. Market is oversaturated. Been around for a decade - but taken off the last 2 years with improvement of AI.
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