Innovation house has interviewed Max Polyakov, a famous Ukrainian businessman, partner at Noosphere Ventures. During the interview, Max Polyakov shared his vision of the medical startups that are attractive to venture capitalists.
MBios Challenge is the 1st biomedical startup challenge in Ukraine. 12 people agreed to judge the challenge, including Max Polyakov, partner at Noosphere Ventures, who has a PhD in economics. In an exclusive interview with Innovation house, he shared what biomed technologies he finds have the most potential.
What is the future of biomed technologies?
Answering this question, Max Polyakov replied that there are 3 key problems which should be solved through medical innovations:
– the increase in the number of consumers
– the rising cost of medical treatments
Global digitalization made reorganizing the whole healthcare system more proactive than reactive. The system used to work this way:
1 – the patient asks for help
2 – the system gathers data to determine a diagnosis
The spread of portable devices has simplified proliferated constant monitoring of patients. Hospitals can now get a complete picture within minutes. Also, scientific research has recently made a number of incredible discoveries, like surgical robots and the use of 3D printed organs. This is the future.
Where does Noosphere Ventures invest?
According to CB Insight, the portable device market will be $4.5 billion by 2020 and now Noosphere Ventures focuses on personal portable devices noted Max Polyakov. He added that humanity will eventually be able to cure lung disease, asthma, dysrhythmia, sleep apnoea and even breast cancer. The main advantages of portable devices are constant monitoring and a lower cost for diagnostics and treatment.
Image credit: medicine.uiowa.edu
Do you plan to invest in some projects on the cutting-edge of medicine and biology?
The future of medicine is in bigger data volumes highlighted Max Polyakov. He noted further that patients can gather data themselves through simple diagnostic tools. Sensor and wireless technologies are bringing diagnostics and monitoring out of the hospitals. This kind of development is useful for patients, pharmaceutical businesses and insurance companies. So, currently, they are going to invest in the technologies that will help patients diagnose and treat themselves summed up Max Polyakov.
What technologies have impressed you the most?
There are well known corporate leaders who implement innovations just to boost their reputation. One of the most impressive innovations designs by the companies who don’t have a strong marketing brand and his partners from Firefly Aerospace is a great example of ones. Even though they don’t have SpaceX brand awareness, their technical developments are quite impressive commented Max Polyakov.
He pointed out that Noosphere Ventures has 3 medical projects: Thync, Circle Medical, and Kangaroo Health. They are also keeping an eye on the Vernadsky Challenge winners: Bioton, HeartIn, and Cardiomo. The MUSIC-Med project is another one that is part of the Noosphere Engineering School.
What do you expect from MbioS Challenge?
Max Polyakov hopes and believes that the interest in medicine and integrated medical products within the startup ecosystem will grow and medical startups will be able to produce positive ROI.