Take a closer look at how Silicon Valley entrepreneurial godfather Paul plays with medical technology (on)

Y Combinator (hereinafter referred to as YC) is the world's top accelerator, founded in 2005 by Silicon Valley entrepreneurial godfather Paul Granham. In the early days, YC paid more attention to the software and hardware fields. In 2011, it began to enter the medical industry. At the beginning, it paid more attention to medical information related enterprises, such as the electronic medical record management platform drchrono. Beginning in 2014, under the general environment of the rise of the medical industry, it gradually began to involve medical equipment , biotechnology and artificial intelligence companies.

According to public data, YC has invested in 1,200 companies. The author has selected 66 medical-related companies that YC has explicitly invested in, including medical informationization, medical insurance solutions, technology outsourcing services, image processing, medical devices, artificial intelligence, Health management platform, intelligent hardware, smart technology, biotechnology, non-profit organizations, doctor tools, medicine and other 13 fields. Some of these companies, such as medigram, Habit labs, and Weave, have closed services (no entry counts), and some have gradually become industry unicorns, such as analyticsMD. In view of the length of the article, it will be divided into two parts.

YC is unique in that it links the roles of investors and entrepreneurs, like a training camp, selected entrepreneurial projects, and will receive intensive guidance from YC partners in a three-month cycle, including the founder of Facebook. Zuckerberg or PalPay founder Peter Tiel, the Silicon Valley entrepreneurial god, best represents the entrepreneurial spirit of Silicon Valley. Peter Till invested in SpaceX and Facebook. He is a sly PayPal gangster. In this year's US election, he blatantly rebelled against his tradition and voted for the controversial Donald Trump. It is conspicuous that in these "heterogeneous" eyes, they consider the advantages and disadvantages of enterprises different from the standards of ordinary people.

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Father of business, the founder of Y Combinator, Paul Graham

Every year, Demo Day is a global event. The selected companies are uniformly displayed to VCs from all over the world. Each period is about 100+ projects (the latest 105 companies). Those who pass the qualifications receive US$120,000 investment, and YC receives a small portion of equity (7%). ). After the Demo Day, YC will continue to pay attention to the companies it invests in, giving technology, consulting and even financial support.

Medical informationization

1.PatientBank

Online medical record system

Established: 2014

Headquarters location: New Haven, Connecticut

Investment time: August 2015

Investment amount: 120,000 US dollars

Investment round: seed round

By digitizing the patient's medical records and placing them online, all the information stored in the PatientBank is combined into a single abstract, so that these records can be shared among patients, medical providers, and researchers. In August 2016, I received a YC $120,000 seed round investment.

Given that traditional procedures for obtaining medical records may have to go to the hospital or make an appointment by phone, PatientBank hopes to use the network to save the patient's medical records at a very low cost, requiring only $30 to easily request medical information from all doctors. PatientBank has collected more than 10,000 medical records from 2,300 hospitals.

2.Locent

Clinic clinical document information service

Established: 2015

Headquarters location: Santa Monica

Investment time: June 2015, February 2016

Investment amount: $630,000, $750,000

Investment round: all seed rounds

Locent is primarily for clinics, allowing doctors to obtain tagged clinical documents that are suitable for reference, reducing phone usage, document misplacement, and fax errors, reducing the time required to filter out unnecessary information, and data security in compliance with the HIPPA Act. In June 2015, YC and Chaac Ventures received $630,000 in financing. In 2016, YC, Chaac Ventures and Mike Benvenuti reinvested in Locent's $750,000 seed round.

3. TrueVault

Open API platform for storing data

Established: 2013

Headquarters location: Redwood City, California

Investment time: May 2014

Investment amount: 2.5 million US dollars

Investment round: seed round

Creating a data center that complies with the HIPAA Act is very expensive and time consuming. TrueVault is designed to help healthcare application developers meet the privacy and security standards required by federal law, enabling them to focus on the development of healthcare applications. Compared to other HIPAA-compliant database vendors such as AWS, FireHost and RackSpace, TrueVault is cheaper. In May 2015, after graduating from the YC incubation class, he received $2.5 million in investment from 10 investment institutions including YC, CRCM Venture Capital and FundersClub.

TrueVault's services not only protect users' data security, but also enable users to query protected data. The company can get JSON files without restrictions, can also query any JSON file of binary fields, and can also directly let TrueVault add search interface to their app. TrueVault provides a simple application programming interface to store and retrieve any data on a web page, so it can store healthcare data from mobile health applications, wireless devices and even genomic research, so users don't have to spend valuable time worrying about data security , performance and scalability issues.

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