On Sunday, April 6th over 130 members of the IPIHD community gathered just outside of Washington, DC at the 3rd Annual IPIHD Forum. Like in past Forum events, the day began with 28 innovators (more than ever before) presenting 3-minute pitches addressing their healthcare innovation, the impact they have had, and the support needed to scale.
The pitches were followed by audience questions and IPIHD Supporter -led panel discussions providing valuable supplemental information about each innovation.
3rd Annual IPIHD Forum opening remarks by IPIHD Executive Director, Krishna Udayakumar
Next, the audience participated in our version of “speed dating” six, 5-minute table conversations allowing everyone to meet and talk with someone new.
Facilitated audience "speed dating" session, 3rd Annual IPIHD Forum
After lunch the energy was high as we entered the afternoon “Smart Failure” panel and break-out discussion lead by Sproxil CFO and Strategist, Alden Zecha. The subject, all too familiar with many audience members and entrepreneurs, seemed to ignite the crowd as panelists from Baxter, SughaVazhvu, and Deutsche Bankrevealed learning experiences from their or others’ past missteps. What were the key takeaways besides the obvious message that every failure leads to a lesson learned? Here are a few highlights:
- Collaborators should maintain open and honest communication regarding ideas and experiences that “failed”.
- Before investing, organizations should learn about the hidden ecosystems in the community’s healthcare system.
- Identify key metrics of failure as well as metrics for success, so that you know when your model isn’t working.
- Don’t scale failure. When you know you’ve failed, stop and reassess, understand what went wrong and adapt your model.
Table discussion during "Smart Failure" breakout session, 3rd Annual IPIHD Forum
We wrapped up the day by presenting innovator awards that the audience voted on throughout the day. The best innovator pitches went to Arogya Finance, North Star Alliance, and Sproxil. These three innovators were the “audience choice” to pitch in front of an elite panel of investors IPIHD invited the following day.
The best presentation delivery was awarded to We Care Solar, and the most interesting innovator (“Who would you want to sit down and meet with?”) was awarded to ClickMedix.
We Care Solar's, Laura Stachel (center) presented with the best presentation delivery award by IPIHD Executive Director, Krishna Udayakumar (left) and IPIHD Chair, Victor Dzau (right)
The Forum continued on Monday in closed sessions for IPIHD network members. Sessions included “Creating Win-Win Partnerships,” “Effective Storytelling,” and “Social Business Strategies.”
IPIHD also held an invite-only Investor Pitch Session, where the aforementioned three winning innovators were given the opportunity to pitch in front of six well known investment firms including Deutsche Bank, Imprint Capital, International Finance Corporation (IFC), Khosla Ventures, Serious Change Investments, and the Sorenson Impact Foundation.
Following the innovator pitches, each innovator was “grilled” by the investors on their model and given feedback on their pitch.
Alden Zecha, Sproxil CFO and Strategist presenting during the Investor Pitch Session, 3rd Annual IPIHD Forum
What did the audience enjoy most about the IPIHD Forum? We’ve included some responses below:
- The infectious nature of the participants and their enthusiasm –IPIHD Supporter
- Innovator presentations were the best I have ever seen. I also loved having the chance to network. – IPIHD Supporter
- Meeting potential partners and inspiring innovators –IPIHD Innovator
- Learning about the innovators and the matchmaking session –Investor
Audience members networking, 3rd Annual IPIHD Forum
On behalf of the entire IPIHD Team, we’d like to thank our network Innovators, Supporters, and other community members for attending the 3rd Annual IPIHD Forum. We are delighted with how many connections and relationships were forged, renewed and strengthened through this event and we look forward to seeing everyone next year.