“They came with incredible technological developments, but with very bad businesses.” This is how Juan Valero summarizes the central challenge of many startups healthtech in Mexico when looking for investment. Although they offer innovative solutions, they lack solid business models and multidisciplinary teams.
The truth is that the funds of venture capital They also tend to lack specialization to evaluate scientific projects. “They want innovation, but they do not understand what scientific or technological development entails,” says Valero, coordinator of Mentors and Synergies of Technological Entrepreneurship, at the Tecnológico de Monterrey.
Despite these frictions, the healthtech startups they advance. These are emerging companies that use technology to transform the access, efficiency and quality of health services, in addition to seeking cures for diseases.
In Mexico there are about 300 healthtech startups at different stages of development. “The majority focuses on practical models such as telemedicine, digital pharmacies and electronic clinical records,” says Erick Salazar, general coordinator of the HealthTech Mexico Association. However, “we continue to lag behind in more scientific projects, such as genomics or personalized therapies.”
The problem is not just one of funds. Many startups They seek capital with incomplete proposals and homogeneous teams. “They don’t need to do everything themselves. Incorporating specialists is key to structuring successful projects,” Valero emphasizes. In addition, they face regulatory barriers, such as the processes of the Federal Commission for the Protection against Health Risks (Cofepris), which sometimes delay key stages.
Given the need for greater preparation of the founders, generally with a more scientific and technological profile, the funds connect them with accelerators and company builders to help them scale their technology.
Both experts agree that the Mexican ecosystem must evolve to compete globally. Funds need teams that understand complex scientific projects and the startups They must take advantage of opportunities in Mexico, especially in areas such as chronic diseases, occupational health and personalized care. “The talent is here; we need to better connect the actors of the ecosystem,” adds Salazar.
In the HealthTech Panorama 2023, the consulting firm Deloitte predicts that by 2030 these startups They will be catalysts for changes in health, promoting inclusion and equity for marginalized populations.
The path for entrepreneurs healthtech It is full of challenges. Innovation policies in Mexico have changed and cuts in public funds in science and technology have affected the entrepreneurial ecosystem. For this reason, other countries like Argentina are taking the lead in high-tech sectors.
However, the innovations of the startups healthtech In Mexico they are attractive enough to attract the few funds specialized in science. “We are convinced that the startups health have the potential to generate a global impact,” says Pedro López Sela, managing partner of Frisson Capital.
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Frisson Capital: The road less traveled
Among venture capital funds looking for the next big thing startup technology, Frisson Capital is committed to specializing in a specific niche: the sector healthtech. Frisson Capital’s approach in this sector focuses on three categories: deep tech, tech based and tech enabled. These areas encompass technologies such as new molecules to treat diseases, surgical robots and wearable devices, as well as digital pharmacies and hospital management systems.
“At Frisson Capital we are not limited to a particular technology. We look for solutions that have a real impact on the health sector, regardless of the technological format,” explains López Sela.
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