I recently had the opportunity to sit down with TechCrunch for their "Ask A VC" series to discuss the future of the digital healthcare space, one of the emerging start-up sectors that is attracting tremendous interest from entrepreneurs and venture capitalists alike.
While those of us in the U.S. are fortunate to live in a country with well-trained medical professionals and have access to tremendous advancements, consumers are spending over $2T annually on healthcare and these costs continue to increase year-over-year. Despite these advances, the overall health of our society does not seem to be improving, and this is evident through the increased prevalence of obesity on "Main Street."
Fortunately, many of our best and brightest are applying their brain power as entrepreneurs to come up with new technologies, new innovations and new companies to help address our state of "un-healthiness." The prevalence of smartphones, the improved power of sensors, and the capabilities of big data analytics have opened up the doors to a lot of advancements in digital healthcare. Mobile and social have become powerful catalysts for a digital healthcare future. Crowdfunding platforms; accelerators; and corporate innovation programs are helping to spawn a new whole new generation of startups.
At Comcast Ventures, we have been experiencing all of this through our portfolio companies in the healthcare sector, BodyMedia and Accolade. We invested in BodyMedia last summer and today, you may recognize them as the armband device on the contestants of NBC’s The Biggest Loser. They are one just one example of the explosive innovation that is occurring in digital healthcare – something that is sorely needed in our nation as we strive to find ways to live healthier lifestyles.
Click here to watch my interview with TechCrunch.
Image courtesy of BodyMedia.