Pawan Kohli, a strategic advisor at Redesign Health, spoke at HIMSS24 Venture Connect about learning from failure in the digital health market. Global digital health funding decreased significantly in 2023, with a drop in deals and mega-rounds. Companies like Olive and Pear Therapeutics shut down in 2023. Kohli suggested buying small rural health systems could help tech companies expand. The biggest pitfalls for digital health funding in 2023/2024 include uncontrolled spending, not learning from rejections, focusing solely on revenue growth, and not creating a high-functioning board of directors. Pressure from investors may have also led to closures, but companies can fail for various reasons.
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Learning from funding missteps in the digital health startup ecosystem
