MedStartr is a crowdfunding platform designed specifically for healthcare. It grew out of the Health 2.0 NYC meetup group organized by our founder, Alex Fair. After trying to list a healthcare project on Kickstarter he learned that they did not allow healthcare projects. A little more research showed that while other sites did allow healthcare projects, they had a dismal track record with an apparent successful funding rate somewhere between 5 and 10 percent. So he partnered up with his friend and previous co-founder Mike Pence, who also happened to be the former lead developer at KickStarter. About a week later they launched an Alpha and sent it out to 71 friends.
Then What Happened?
Would you believe that six of them funded the project? This first video shows how passion trumps perfection in crowdfunding videos! Of the original “crowd” of 71, 22 shared it with thousands more and suddenly there was a groundswell of support, interviews, press, new team members, and applicants. Needless to say, Mike and Alex were enthused and kept at it, launching the private beta on the 4th of July, 2012. Since then we have learned a great deal, gotten tons of press, helped dozens of great ideas get found and funded, and developed our Crowd Challenge and Open Innovation Services to not just help Startups, but to enable great companies become even greater through innovation driven by crowd sourcing and crowd funding. In 2015 we did our first MedStartr Momentum (#MedMo15) Conference in NYC. In July 2016 we relaunched the MedStartr crowd funding platform as a Healthcare Crowd Engagement Platform – designed to facilitate and automate everything healthcare innovators need to do to get to market faster and more sustainably in healthcare.
The MedStartr Model greatly differs from traditional crowdfunding. We mixed in events, mentors, experts, challanges, partners, packaging, promotion, and optimization services to create a model that maximize the changes of success for ideas in heathcare. It works fantastically! Here is what makes that magic happen:
Focus on Healthcare. This means that we know this industry inside and out understand it deeply. Physicians, Researchers, Hospital Administrators, Big Pharma, Medical Device Engineers, Agency folks, Managed Care Execs, Government Policy Wonks, Healthcare Data Jockeys – that is who we are and what is in our DNA.
Crowdfunding Optimization. We know our clients went to Med School and Grad school, not B School or Design School, so we lend a hand. Think of this as packaging for your great idea. Our projects are too important to fail and helping with a little writing and copy editing is what they generally need help with. Startups get our world-class professional optimization services in three levels of service: Facilitated, Partnered, and Accelerated. We also optimize projects for other crowdfunding platforms leading to some of our biggest successes. Learn more here.
Crowds that Care. Our audience is the crowd that cares – doctors, patients, partners, and institutional leaders that care deeply about fixing our healthcare system and systems around the world. We also are a network for spreading ideas to and within patient communities. Unlike most sites that support projects to make art, or a movie, this stuff really matters to people, often literally a matter of life and death.
Events. Our Healthcare Revolution Events bring the crowd to crowdfunding, letting people meet the MedStartrs. We also show these events live on our affiliate HIBC.tv, the Health Innovation Broadcasting network so our clients’ videos and presentations can be seen far and wide. Want to Kickstart healthare innovation in your city, call us and we will bring the Healthcare Revolution.
Mentors. MedStartr engages every project with our Mentor Network consisting of the all stars of healthcare innovation. Whether you need to connect to a Healthcare data structures guru or the designer that brought the handheld EKG to life or the CEO of a fortune 100 healthcare company, very often we can help connect you to exactly the person you need to meet to go to the next level – and they will get involved with your project if they are so inspired.
Partners. We bring partners to the table for all our projects once the wave begins to build, or sometimes earlier. If you can show that the crowd cares about your idea, then we can find the right partners for you. We also will actively seek the types of companies our partners are looking for. We see thousands of ideas come in and are often the first to know what will work and what the market demands, helping both sides of the table.
Press Promotion. We have great relationships with many media outlets and will share our stories with TechCrucch, NYTimes, Forbes, HuffPo, MedGadget, MedCity News, and more. Driving awareness for your company is one of the most valuable aspects of a MedStartr Crowd Round and a key part of our plan for our corporate and startup clients.
Social Media MAP. Social Media is a team sport, especially in healthcare. The MedStartr HCSM Mavens are like a megaphone for your voice, spreading your message where it matters most. From facebook to pinterest to just the right tweetchat to have you guest host, we know what you should do and who to talk to in order to engineer your Massive Exposure Plan and put you on the MAP.
Corporate Innovation Services. We help companies connect and communicate with the healthcare innovation community through events, introductions, targeted campaigns, and challenges. This helps both the BigCo and the startup find just the right partner and works great. We also will crowdfund Optimize a potential partner, enabling market testing with stadiums-full of potential clients and helping determine which partners have the greatest chance of success.
Challenges. Corporations that want to crowdsource innovation in a massively viral format that lets them crowd test before they invest faster and more efficiently than ever will love our new challenge platform which can cut the cost of developing new products by over 1,000x. Call for a demo.
Thanks to our unique model we maintain a success rate in healthcare that is seven times the average for healthcare we see on any other site. While this is a great start, we know it is just the beginning. Stay tuned!