the cambia grove - ebpa...healthcare over the next decade.” • provide access to training,...
TRANSCRIPT
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The Cambia GroveA Health Care Transformation Center
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Cambia Grove LaunchOctober 2014
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CHANGE
3 © 2016 Cambia Health Solutions, Inc.
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z
CAUSE
4 © 2016 Cambia Health Solutions, Inc.
Serve as a catalyst to TRANSFORMhealth care, creating a PERSON-FOCUSED and ECONOMICALLY SUSTAINABLE system.
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Lumberyard and text
© 2014 Cambia Health Solutions, Inc.
1917
5 © 2016 Cambia Health Solutions, Inc.
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z
6
Cambia Health Solutions is focused on building a portfolio of innovative health solutions companies to drive change.
1993-2010 2011 2012 2013 2014
Direct Health Solutions
2015-2016
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Seattle is often overlooked, but it is quickly becoming a key epicenter for entrepreneurship in the United States
Top 5 fastest growing cities and rated as a top 3 city for startups in the US
Viewed in nearly every reliable source of information as one of the top 4 startup clusters in the US
Along with Silicon Valley, an epicenter of cloud-computing, datacenters and healthcare innovation
Rapidly increasing number of accelerators, co-working spaces, and incubators based in the region
Home to several top universities, including a top 10 school for computer science and engineering
Seattle, USA
Ecosystem Benefits
Source: Jones Lang LaSalle United States High-technology Office Outlook 2013
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US Innovation Hubs rely on business models ranging from co-working spaces to accelerator programs with investment arms
Innovation Hub Mission Statement Value Proposition Business Model
“Help startups who make the world better.”
• Help startups set up and manage their office so they can focus on making the world better
• Members pay between $425-$1,500 per month for co-working space
“Foster innovation and entrepreneurship by turning ideas into investable businesses.”
• Provide an accelerator and mentor network to high-potential startups in Nashville
• Members pay between $15-$100 per month for co-working space
“Our goal is to build the healthcare community and help local startups accelerate their growth.”
• Provide a community of innovators and leaders working together to improve healthcare
• Members pay between $150-$450 per month for co-working space
“To create a world where people work to make a life, not just a living.”
• Provide space, community and services entrepreneurs need to run a business
• Members pay between $45 -$450 per month for co-working space
“Get founders through the first phase.”
• Create an environment where hackers can focus exclusively on building their initial product
• Y Combinator invests $120k in return for 7% of the company’s equity
“Help entrepreneurs build great businesses.”
• Open doors to capital, mentorship, marketing, BD, acquisition, and recruitment
• $20k in return for 6% of the company’s equity and offers a $100k convertible note
“Help build, launch, and raise financing for defensible and scalable businesses.”
• Provide funding, office space and access to an extensive mentor network
• MuckerLab invests between $21k to $150k in exchange for a 7% to 15% equity stake
“Help 1,000 health startups to reimagine and transform healthcare over the next decade.”
• Provide access to training, advice, and a peer network to digital health startups
• 36 month accelerator in exchange for between 2-10% of the company’s equity
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THE REGIONAL OPPORTUNITYEstablish the Pacific Northwest as the epicenter for health care innovation
Employers of all sizes are hungry for new health care solutions
Regional health care cluster has limited connection to national stage
Untapped economic development potential
Innovative regional providers have strong brands individually but limited awareness of their geographic cluster
Regional entrepreneurs have much less access to local venture capital compared to those in other innovation clusters
Positioned to lead consumer-centric future of health care services
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The Cambia GroveThe Cambia Grove is a health care industry focused hub where the Cascadia region's
innovators can convene and catalyze the development of tomorrow’s health care solutions.
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WA State Healthcare Innovation Report
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WA Healthcare “Startup Census” – roughly 100 businesses
Released in 9/15, with ambitions to census PDX, Vancouver BC and SLC next.
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Even more action…
Genomics pioneer Lee Hood to unveil new startup Arivale, breaking new ground in ‘scientific wellness’(GeekWire - June 2015)
Concur co-founders join health-care tech company, open HQ in Seattle(The Seattle Times – November 2015)
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The Cambia Grove commissioned an Economic Development Report focused on the Health Care Innovation Sub-Sector
HEALTH CARE INNOVATION IN
WASHINGTON STATE
The Health Care Innovation Sub-Sector is alive in WA and making significant contributions to the state’s health care economy
1
The Health Care Innovation Sub-Sector supports urban and rural employment with 22,500 direct jobs across 25 counties in Washington state
2 3
On average, Health Care Innovation Sub-Sector workers earn 8% more than the average works in Washington state and produce 300% more
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HealthCare Innovation Sub-Sector
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2015 in Review – Big Names & Big Achievements!
Official Ribbon Cutting March 13, 2015
GeekWire’s Newcomer of the Year May 7, 2015
Senator Murray Visit June 30, 2015
Governor Inslee Visit May 1, 2015
Launch Economic Development Reportw/ Lee Hood
October 26, 2015
First BirthdayMarch 14, 2016
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Tremendous community participation Pledge signatures from marquee influencer orgs
~900 Twitter
Followers
35 Press
Articles
350Unique Pledge Signees
1,400Cambia
Grove Video Views
56# External People Utilizing the Space
Every Week
15.3MImpressions
Through Publications
1621Unique
Monthly Visitors
390 LinkedIn
Followers
The Cambia Grove has successfully rallied the community around our cause, as evidenced by outstanding participation in 2015
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Anchor Partners To-Date
Surpassing expectations, the Cambia Grove has locked in 8 Anchor Partners to date
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Publications Featuring the Cambia Grove to date
The Cambia Grove has thus far been featured in 35 articles in 24 unique publications across the PNW and the broader US
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The Cambia Grove has an impressive list of advisors on its Board, all of whom are active supporters and advocates
Connie Bourassa-Shaw• UW Buerk Center for Entrepreneurship, Director
Dr. Bob Crittenden• WA Governor Inslee , Sr. Health Policy Advisor
Nancy Giunto• Washington Health Alliance, Executive Director
Vikram Jandhyala• CoMotion: UW's Collaborative Innovation Hub, Vice
Provost for Innovation
Maura Little• WA Dept of Commerce, Director of Economic
Development for the Life Science and Global Health Sector
Karl Stickel• City of Seattle Office of Economic Development,
Global Health and Life Sciences lead
TBA• Washington Biotechnology & Biomedical Association
(WBBA), President & CEO
Rick Rubin• OneHealthPort, CEO
Dorothy Teeter• Washington State Health Care Authority,
Director
Carol Wagner Washington State Hospital Association, SVP, Patient
Safety
Each of our Advisory Panelists is a major industry influencer. Offering
their effort and expertise, each works tirelessly with us to cultivate a community of openness and
transparency. Their contributions compel others to leverage the Cambia
Grove, participate in the broader community, and help further the
future of Seattle’s own health care Third Place.
Our Advisors bring unique knowledge and insights about the region’s health
care or startup sector that will help entrepreneurs successfully navigate
what traditionally has been a difficult industry in which to find success. We are very proud of this rock star team.
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Cambia Grove established the “Sounding Board” to provide guidance to new and emerging health care entrepreneurs
Geoff Baker Eric Fogel Lynne Gregg
To provide more guidance for new and emerging health care entrepreneurs in the region, the Cambia Grove now offers access to its Sounding Board advisory panel.
Sounding Board members bring a wealth of experience from within the trenches with successful startups and industry experience. They volunteer their time for the betterment of the ecosystem, offering their expertise to the entrepreneurial
community at large. Members include major industry influencers who share a deep engagement within the sector and a passion for issues that can help move the needle
on health care transformation. As partners of the Cambia Grove, the Sounding Board works to cultivate collaboration, openness and transparency. Go
to our calendar to sign up for the next Sounding Board Pitch Clinic.
Tom Lang Eric Meyer Gwen O’Keefe
Jeff Smith Steve Tarr Michael Wood
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Case Study: Anchor Partner Program
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Case Study: EvergreenHealth’s Anchor Partner ProgramReverse Pitch Day was a huge success, drawing in nearly 200 people from diverse backgrounds
“I’ve been in venture in Seattle since ’98, and it’s
been Groundhog Day, until today – this is different.”
- Joe Piper, Managing Director, Point B Capitol
“Seattle, even though it has less overarching digital
health investment, has one of the highest rates of
successful exiting companies.”
– Chris Edell, CEO Elevar
“Consumers are asking to be treated as individuals, to
have individualized care in service similar to other
consumer experiences, and they want to be respected in
the intimacy of a health care experience.”
– Kay Taylor, VP, Marketing & Communications,
EvergreenHealth
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Event Overview The Pitch & The Panel
The event was broken into two components: a robust panel discussion from experts and the Reverse Pitch itself
The Pitch: The primary component of EvergreenHealth’s Reverse Pitch Day was the presentation of the provider’s problem statements. Questions were kept intentionally open-ended, in an effort to not be over prescriptive. Challenges presented to companies in attendance included:
The Panel: The day’s program also included a panel on innovation in health care. The free-ranging discussion touched on:
− The biggest issues facing consumers in the health care system
− The promise of “disruptive” digital health tools
− The biggest challenges facing providers
− The current state of health care in the Pacific Northwest
− The work still needed to connect startups with large, established companies
− Investors’ role in supporting innovation in the industry and their current priorities
RPD attracted ~175 guests, including:
− Entrepreneurs (between 75 and 100 companies in attendance)
− Cambia Grove anchor partners (Qliance, MultiCare, EvergreenHealth)
− DHS companies (SpendWell, LifeNexus, Carena)
− Cambia Grove Advisors (Maura Little, Nancy Giunta)
− Keiretsu Incubator
− WBBA
Partner organization Elevar directed the event as a kick off to their lab series, which connects entrepreneurs and emerging startups with established organizations interested in driving industry innovation.
The atmosphere in the room was energetic and engaged with the audience asking a high volume of questions
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After Reverse Pitch Day, the EvergreenHealth Lab received over 95 startup applicants from all over the US (and Finland!)
Greater Seattle
Area
44
S. CA
N. CA
12
4
OR
6
NY
6
TN
3
IA
2
MO
2
TX
2
IL
2
UT
2
MA
2
KS
1
ID
1
PA 1
NV
1OH
1
MD
1
MI
1
BC1
Finland
1
Startup Applications by Location(96 Total)
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1 startup
96 startups
16 startups
Applications Enterprise Challenge LOIs
Over 190 attendees attended the Reverse Pitch at the Cambia Grove
Nearly 100 startups, representing over 300 entrepreneurs, applied to
solve Evergreen’s challenges
14 EvergreenHealth execs, including the CIO and CMO,
filtrated the innovations
Of the 96 health startups applications to the Lab, one startup, EHR.Works has formalized a relationship with EvergreenHealth
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How can employers get involved?
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Employer Pain Points
You are trying to manage rising health care expense
You are trying to improve the health and productivity of your population
You have tried multiple solutions but often they have been unsuccessful as they are not tailored to your unique workforce needs
As an enterprise executive, you face challenges that require out-of-the box thinking
You want to innovate, but where do you begin?
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WHAT IF…..
You could provide your input and expertise to help develop solutions that would meet your unique workforce?
You could be matched with top innovative startups that are designing solutions for the issues you care about?
You could test drive top startups that align to yourspecific needs?
You could assist in the development of pilot projects designed to improve the health and productivity of your organization?
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Problem Solution
Illustrative concepts
Digital and mobile health
Transparency in health care shopping
Wearables/telemonitoring
Artificial Intelligence
Next gen diagnostics
Telemedicine
Novel primary care models
Addressing high medical cost trend
Aging workforce
“Sandwich generation” needs
Engaging millennials
Dependents
− Women’s Health
− Newborn/Kids
Combatting depression
Obesity, pre-diabetics
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To learn more about the Cambia Grove and all the work that is being done in Seattle, please see some of the links below
Some Useful Links to Learn More
Cambia Grove at a Glance: https://www.youtube.com/watch?v=O5ifRbAiUMA
Cambia Grove Video Tour: https://www.youtube.com/watch?v=zPx27zag28k
Cambia Grove Grand Opening: https://www.youtube.com/watch?v=aLCutaHyNw8
WA State Health Care Economic Impact Report: https://Cambiagrove.com/WAHealthCareEconReport
Why Seattle For Startups: https://www.youtube.com/watch?v=v75G0-ifwQQ
Seattle’s History of Innovation: https://www.youtube.com/watch?v=NSPL7LIuZYE
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Get in Touch & Learn more about The Cambia Grove:
1. Sign the Pledge & sign up for our Newsletter
2. Use the Cambia Grove for your business meetings and attend our events (spread the word)
3. Share your ideas with us!
WEB: www.cambiagrove.com
EMAIL: [email protected]
TEL: Nicole Bell (206) 332-5103
@CambiaGrove
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Q&A