‍With Wellington Partners, Dr Regina Hodits focuses on early-stage deals in the life sciences sector and has built up a second mainstay in digital medicine over the last ten years. She is convinced that health tech will become mainstream.

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‘Imagine your grandma can suddenly no longer move her fingers. She goes to the doctor, who diagnoses rheumatoid arthritis, prescribes a packet of tablets, and says: “Come back in three months and we'll see how you're doing”. Suddenly, her life has changed – nothing is as it was. 

Questions then arise for your grandma: What is happening to me? What is happening to my body? What do I do now? How can I learn to live with this illness? 

To adapt, she needs access to a network that provides her with information. And she needs someone to monitor her in case she takes a turn for the worse. But a doctor doesn't have time for that in the current healthcare system. So why not use AI? If she knows there's a human on the other end during an emergency, she’ll likely be more comfortable with that rather than being left alone with a serious diagnosis.

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In a society with varying chronic health conditions, we should look for ways to support both individuals and the system as a whole. The demand for the availability of such solutions is certain to increase.

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One success story is Sidekick Health which began its search for international investors and distribution partners at the Health Hub in Vienna (Batch 3 in 2019, note). Today, Sidekick Health is a leading provider of digital solutions for chronic diseases and offers a wide range of therapies in several markets.

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The fact that Vienna plays an important role on the path from idea to health tech product is not a coincidence.

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When it comes to prototypes, we can provide millions in funding here in Austria, something which is not possible in many other countries. Universities offer counselling (thanks to INiTS, of which I am a member of the supervisory board), a great incubation system, and – with aws in the seed and pre-seed phases – a universe of opportunities for young companies. We can certainly hold our own on the world stage. 

If we want to continue to promote innovation in Austria and promote products that are tailored to our healthcare system, we need to offer such incentives. I, therefore, believe that we need even more institutional money flowing into early-stage funds. Only if we support companies locally with capital can we ensure that they do not migrate to America despite the innovation having originated in Austria. It would be a real shame if this was to happen.

Austria is a great country for testing market launches due to its manageable size. This is aided by the healthcare system which is available to all, and private healthcare, which is in the reliable hands of a few insurance companies open to innovation. There are great success stories coming out of Vienna in particular and many founders have already successfully sold their companies.

The first wave of exuberance is behind us, and now we can witness exponential growth. As an investor, I must no longer solely rely on a good idea but can instead concentrate on successful, existing business models. I think it's a great time to invest in the health tech sector. And our colleagues at Calm/Storm are in a great position with their early investments and their diverse portfolio.’

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