HealthTech: Critically appraising the innovation ecosystem of a transformative technology
Lead Research Organisation:
Loughborough University
Department Name: Geography and Environment
Abstract
The overall aim of this studentship is to undertake the first critical academic appraisal of the innovation ecosystem around HealthTech, while at the same time providing an importance evidence base for the collaborating organisation, TechNation.
Research Questions
1 What are the motivations of entrepreneurs in starting-up new HealthTech firms? How does this differ between those with a background in the health sector, and those with a tech background? The research will seek to understand their various motivations for starting a tech company, and how they pitch and justify their proposed business models, in order to understand how entrepreneurs spot a gap in the market for a particular technology and seek to fill this gap.
2 What are the characteristics of venture capital investment that fund HealthTech firms? This part of the research will include detailed analysis of tech funding data bases (Crunchbase Pro) to determine historical and geographical patterns of HealthTech investment. The Creative Industries Sector Deal of the UK Government's Industrial Strategy explicitly recognises that the small size of creative businesses and reliance on vulnerable, intangible assets makes it particularly difficult for these firms to attract investment.
3 How are the products and services of HealthTech firms monetised? e.g. free services (including scale-first models), subscription services, and software-as-service models, mirroring those found more broadly in the tech sector. The research will have the scope to explore these in detail from a sectoral-specific viewpoint including the advantages and limitations of particular business models and the logics/business decisions behind them. Further, the research will consider how user data forms part of monetisation strategies, and the privacy, security and equity issues that arise from this.
4 How are ideas realised by entrepreneurs? The research will seek to understand issues faced with recruiting people with the requisite skills (for example health industry experience, software developers), how teams are brought together, what issues of communication and translation may exist within them, and dynamics of innovation.
5 What are the roles played by incumbent firms in fostering innovations in HealthTech? New technologies and platforms are known to "bump up against" traditional industry logics, and incumbent firms have the ability to put-up or remove barriers to innovation and to the success of small HealthTech start-up firms.
Research Questions
1 What are the motivations of entrepreneurs in starting-up new HealthTech firms? How does this differ between those with a background in the health sector, and those with a tech background? The research will seek to understand their various motivations for starting a tech company, and how they pitch and justify their proposed business models, in order to understand how entrepreneurs spot a gap in the market for a particular technology and seek to fill this gap.
2 What are the characteristics of venture capital investment that fund HealthTech firms? This part of the research will include detailed analysis of tech funding data bases (Crunchbase Pro) to determine historical and geographical patterns of HealthTech investment. The Creative Industries Sector Deal of the UK Government's Industrial Strategy explicitly recognises that the small size of creative businesses and reliance on vulnerable, intangible assets makes it particularly difficult for these firms to attract investment.
3 How are the products and services of HealthTech firms monetised? e.g. free services (including scale-first models), subscription services, and software-as-service models, mirroring those found more broadly in the tech sector. The research will have the scope to explore these in detail from a sectoral-specific viewpoint including the advantages and limitations of particular business models and the logics/business decisions behind them. Further, the research will consider how user data forms part of monetisation strategies, and the privacy, security and equity issues that arise from this.
4 How are ideas realised by entrepreneurs? The research will seek to understand issues faced with recruiting people with the requisite skills (for example health industry experience, software developers), how teams are brought together, what issues of communication and translation may exist within them, and dynamics of innovation.
5 What are the roles played by incumbent firms in fostering innovations in HealthTech? New technologies and platforms are known to "bump up against" traditional industry logics, and incumbent firms have the ability to put-up or remove barriers to innovation and to the success of small HealthTech start-up firms.
Studentship Projects
| Project Reference | Relationship | Related To | Start | End | Student Name |
|---|---|---|---|---|---|
| ES/P000711/1 | 01/10/2017 | 30/09/2027 | |||
| 2411788 | Studentship | ES/P000711/1 | 01/10/2020 | 30/09/2024 | George Vincent |