February 22, 2024.
Swissnex in San Francisco pursues and supports innovation, cultivating an attitude of thinking beyond conventional boundaries. With this idea in mind, we literally crossed our boundaries when we decided that our latest Startup Bootcamp powered by Innosuisse, focused on Health, would take place in Los Angeles. The decision to venture beyond our borders proved to be a successful one. Read more to find out why.
The LA technological ecosystem
San Francisco, our home, and its Silicon Valley surroundings, with their bustling ecosystem of investors, innovators, and cutting-edge technologies, are the obvious choice for a Healthtech startup Bootcamp. However, not necessarily the only one. In fact, Los Angeles presents an equally compelling, albeit different, proposition.
“LA’s burgeoning startup ecosystem is marked by its diversity in industries, including a strong presence in the health and biotech sectors. This diversity offers our Swiss startups a broader spectrum of opportunities for market exploration and validation,” says Sharon Ambrosio who, along with Matteo Cariglia, is responsible for the Startup programs at Swissnex in San Francisco.
The City of Angels, with its unique blend of entertainment, technology, and health industries creates a melting pot of professional networks. This kind of environment, which integrates technology with creativity and lifestyle, offers unparalleled opportunities for our startups worth exploring. “It is important for us to keep an eye on the different upcoming ecosystems. Los Angeles is the 2nd biggest city in the US.” Says Emilia Pasquier, CEO of Swissnex San Francisco. “Some industries like Space, Medtech, and the Consumer goods sector are really interesting, and there is diverse capital for investments, including celebrity-backed venture capital. Moreover, LA will be hosting the Olympics in 2028, so there are a lot of activities and investments happening there.”
The 2-week Bootcamp and our Startups
With this premise, during the 2-week Bootcamp, our goal was to broaden our offer, allowing the startups to immerse themselves in an ecosystem that values innovation but is also open to accepting foreigners and new ideas. This was done thanks to many sessions organized with local industry experts, key opinion leaders, investors, coaches, and regulators. Our 2-week Bootcamp was designed to offer the participants an exhaustive program.
We kicked off the first week focusing on Pitch training and understanding the ecosystem. The participants were coached to get ready to present on stage and pitch in front of a local audience of investors, experts, and partners. During the following days, they engaged in fireside chats with investors and learned about investment trends, fundraising options, regulations, and legal aspects of entering the US market. Moreover, they were guided through the complex American healthcare system, market trends in biotech/Medtech, and longevity.
During the second week, we delved into the legal aspects with specific sessions on incorporation law, taxation law, intellectual property (IP) protection, and FDA regulation. Additionally, the participants were provided with sessions on product-market fit in the US, sales, and go-to-market strategy. A well-rounded approach to preparing them for navigating the intricacies of the market.
We ensured that the startups had an immersive experience to grasp all the nuances of American business culture. To achieve this goal and to enhance networking opportunities, we organized site visits to San Diego Home Lab and Bioscience LA, and invited them to participate in the MD&M West Conference, a major medtech event.
The bootcamp was an incredible opportunity for the Swiss startups, participating in the Innosuisse Coaching Program, to explore their potential in an international setting and gain insights into the challenges associated with expanding into the West Coast market. Additionally, it served as a platform for showcasing their talents to an audience of experts on the West Coast.
We want to thank each participant for the innovative solutions, the vision they brought to the table and for their dedication. We also want to congratulate Maurice Henkel, Founder of Rapmed.net, for winning the Pitch Night, which was hosted by ScaleHealth, and all the startups for presenting innovative ideas and contributing to a vibrant atmosphere. They are shaping the future landscape of Health!
The participating startups
Deep Breathing Intelligence: analyzes exhaled breath by applying ML algorithms for early disease diagnosis and therapeutic drug monitoring.
IMAI: offers solutions on cancer diagnostics with their cutting-edge digital 3D visualization and automated tissue preparation technology, enabling comprehensive 3D biopsy analysis and supporting pathologists with algorithm-enhanced diagnoses.
Healthy-Longer: has discovered first objective biomarkers and treatment design for mental conditions.
Rapmed.net: offers an e-learning platform for radiologists to teach junior doctors in medical imaging.
Surgeons Lab: has designed personalized & predictive treatment planning for microsurgeries and endovascular procedures via Simulation Technology.
Avea Life: develops longevity supplements. Their products make the latest research available to everyday consumers targeting inner workings of cells, slowing down or even reversing aspects of aging.
Comphya: is developing the first implantable neuromodulator to treat erectile dysfunction in patients who do not respond to oral drugs such as Viagra and Cialis.
“This bootcamp focused on market exploration and product validation. Skill acquisition, through a deep dive into the nuances of the U.S. health market, equipping participants with insights specific to navigating and succeeding in this competitive landscape. But most of all this was a journey of discovery, learning, and connection. I appreciated the enthusiastic participation”, says Sharon Ambrosio. “We saw remarkable engagement from both the Swiss startups and the LA business community, fostering an environment of learning and collaboration.”
Conclusion
Los Angeles was a testament to our belief in the power of diverse ecosystems to fuel innovation and growth. This experience not only validated our decision to venture beyond our borders, but also set a new benchmark for future endeavors. We set out to create a bridge between Switzerland and the US, and what we’ve built is a launching pad for future global health solutions.
Even though the Health & Wellbeing Bootcamp in Los Angeles just came to an end, we already have our sights on the next bootcamp. Back in San Francisco, we’ll have some of the most innovative Swiss startups in Climate Tech and Sustainability for the two-week Bootcamp in April.