On Wednesday, November 17th, HealthIT folks joined us virtually for a panel discussion. A.T. Gimbel, Partner at Atlanta Ventures moderated conversations between Ryan Collins of Noro-Moseley Partners, Becca Shmukler of Laerdal Million Lives Fund, and Austin Poole of Panoramic Ventures.
These Meetups are part of an ongoing series of talks about Healthcare in Atlanta, with an objective of making Atlanta the premier place to start and grow a HealthIT business. The goal of these meetups is to facilitate connections, hear from industry professionals, and truly dig deeper into Healthcare problems that Atlanta entrepreneurs can help solve.
About the Event
The morning kicked off with 55 entrepreneurs diving into breakout room sessions. Here, they discussed the question: “Do you have a favorite holiday tradition?” In the rooms, attendees were able to network and take part in meaningful conversations. Following the breakout rooms, A.T., Austin, Becca, and Ryan gave introductions, talked about their firms, then the panel began.
About the Panelists
Becca Shmukler is a Principal of the Laerdal Million Lives Fund. She got into healthcare because of its complexity and the fact that there’s always more to learn.
“Being an investor in the healthcare space, it is so motivating and inspiring to me to hear entrepreneurs who have personal stories and reasons to start companies in healthcare.”— Becca Shmukler
Austin Poole is a Senior Vice President of Panoramic Ventures. He got into healthcare because it touches so many lives and because of the surplus of opportunities for improvement.
“As we as a country shift towards a Value Based Care system, the nature of that is that there will always be room for improvement.”— Austin Poole
Ryan Collins is a Vice President of Noro-Moseley Partners. He came into healthcare through finance and found the challenges/opportunities around the unique barriers to entry in healthcare interesting.
“It’s awesome to work with companies that are helping people.”— Ryan Collins
Key Takeaways From the Event
Know the investor. Not all investors are alike. Each investor has their own criteria for what they invest in and sometimes it won’t be a fit. Do your research beforehand and ensure that their investing criteria lines up with your product/service.
Meet with investors before you need to raise money. Find ways to meet investors before you need money to get advice, build relationships, and position yourself to be seen over a period of time. Investors prefer “lines, not dots” meaning a series of meetings over time showing progress at each meeting (dot) can create a positive line for your company and show proof of your ability to execute.
Know your data. Always have your data ready before you start calls. Come prepared with the numbers and be able to tell a story with them. Having data enables investors to quantify the opportunity and can make it easier to grasp.
Follow up! Investors see hundreds of pitches a week. After pitching, be sure to reach out and stay top of mind for these investors. Following up is a great way to remain in contact with the investors and build the relationship.
Show multiple proof points. Proof points refer to the evidence that shows why a certain product/service is viable. This traction can be demonstrated through customer discovery, signups, usage, engagement, revenue, loyalty, etc. All of these can make your company more attractive to investors.
Demonstrate exit potential. Investors are seeking returns and being able to express how they will get their returns and in what time frame can be a great asset. Showing a plan on how the company plans to exit provides sought after foresight and future planning skills.
STAY INVOLVED. JOIN THE MEETUP.