Clinicians Who VC: A New Path for Medical Professionals
A new group, aptly named Clinicians who VC, has emerged, offering an exciting opportunity for clinicians with an interest in the startup and venture capital ecosystem. This initiative has received an overwhelming response from clinicians, leading to two clinician technologists being selected as interns at the Vive Collective, a venture capital firm. The group is actively extending venture opportunities, encouraging clinicians to seize roles at the fund, whether on a short-term or permanent basis.
Actively Investing Venture Capital Firms
As reported by BizJournals, several venture capital firms and funds are actively investing in startups in the Upstate New York region, including Buffalo and Rochester. These firms range from Impact Capital, focusing on Series A investments, to Far Out Ventures, dedicated to investing in companies developing business-to-business software. There’s also the Rich Products Corp venture fund that focuses on food and food tech startups, and Bold Ventures, which invests from seed rounds through Series A rounds in companies trying to solve significant global problems. The St Bona Venture Fund I and Egret are also providing investment opportunities for early-stage companies, particularly those in the medical devices sector.
Current Venture Trends
Despite the active investments, a report from CB Insights reveals that the venture market experienced a downshift in 2023, with dealmaking and funding totals falling to 6-year lows. Q4 23 was particularly harsh for global venture capital. However, sectors such as AI and sustainability-focused startups remain resilient. There was also a noted decline in mega funding rounds, which sent shockwaves through the venture system.
Healthcare Startups: A Growing Ecosystem
The healthcare startup ecosystem is also seeing significant growth. Atlanta, for instance, is becoming a hotspot for healthcare and MedTech startups, as reported by Hypepotamus. The city is home to the CDC, two medical schools, top-ranked biomedical engineering programs, and a significant number of venture-backed healthcare-related startups. Large healthcare organizations, such as Catalyst by Wellstar, are also investing in local healthcare innovation. The official launch of Science Square, along with new sources of capital, is set to make 2024 a breakout year for local healthcare startups.
Conclusion
In conclusion, the formation of groups like Clinicians who VC and the growing interest in healthcare startups provide new opportunities for clinicians to engage in the venture ecosystem. Despite the overall downshift in the venture market, it’s clear that there are still areas of resilience and growth, particularly in healthcare and MedTech. Hence, clinicians interested in this space are encouraged to explore these opportunities and contribute their unique perspectives and expertise.
