How Venture Builders are Transforming Digital Healthcare: Insights from Forbes Health Summit 2024

Updated - 04 Jul 2024 3 min read
BGO Software
Ivan Lekushev and Sylvia Butzke

In June 2024, we participated in the Forbes Health Summit 2024, where industry leaders discussed the future of digital healthcare in Bulgaria and beyond. Our CEO, Ivan Lekushev, and Sylvia Butzke, COO of NLC Health Ventures, shared insights on the role of venture builders and the potential of the Bulgarian IT industry in healthcare innovation worldwide.

Venture Builders: Moving the Digital Health Business to the Next Level

Venture builders have the potential to transform digital healthcare. This may seem like a bold statement, but the more we work with such entities, the more we recognize their vast potential. Venture builders are organizations that create new companies by providing funding, expertise, and support. Our special guest was NLC Health Ventures – a world-leading healthtech venture builder and early-stage investor.

For a solution to be effective, it needs to address a problem, right? The venture builder model is crucial because digital health startups face a high failure rate of 80-90%. Healthcare is unlike any other business field; it involves significant regulatory complexity and uncertainty. Many ideas fade away as product development takes a long time, often fraught with uncertainty. Venture builders help turn promising ideas into successful businesses by tackling these challenges. Typically, they collaborate with academia and researchers as primary sources of innovative ideas, products, or services in healthcare. The venture builder model accelerates the development and testing of new digital health solutions, ensuring that only the best technologies reach the market. By supporting multiple projects simultaneously, venture builders can create value faster and more efficiently. This approach could provide the healthcare industry with the speed it needs to keep up with other sectors where technological advancements are already in place.

Sylvia Butzke

The Bulgarian-Dutch Partnership: The Story Behind

How did we end up partnering with NLC Health Ventures? Instead of promoting ourselves, let’s give you some background on our development as a company. Over the past 15 years, we’ve worked with some of the largest healthcare companies, treating their challenges as our own. Being deeply involved in healthcare technology for so long has made us care more about healthcare than a typical IT company. This commitment led us to our next evolutionary step—investing in digital health companies that drive societal value. Besides funding, we provide technological expertise and strategic guidance to help our partners excel in creating impactful digital health solutions.

Our paths crossed with NLC Health Ventures at a pivotal moment. This strategic partnership helps digital health ideas advance quickly and confidently by scaling solutions and reducing risks. We have extensive knowledge of healthcare technology development and a proven track record in digital health investments, while they understand the healthtech business. It’s a perfect match.

Our ultimate goal is to make the region a hub for digital healthcare investments, spreading solutions across Europe and globally. This goal is supported by our dream – to bring more IT professionals into healthcare by building the necessary skills for growth. We believe this partnership creates an environment where digital healthcare solutions can thrive, benefiting patients and healthcare systems.

The Future of Digital Healthcare in Bulgaria

Central and Eastern Europe (CEE) has great potential due to its talented IT professionals and expertise. By working with the right partners, we can scale digital healthcare solutions quickly, positioning Bulgaria as a leader in this field. The country’s strong technical education and entrepreneurial spirit are key advantages.

 

Ivan Lekushev

Despite challenges, Bulgaria offers many opportunities for digital healthcare innovation. Our network and technical skills support the ecosystem and accelerate healthcare digitization – great news. With supportive regulations and continued investment in technology and talent, Bulgaria can set a benchmark for digital healthcare transformation in the region – another positive aspiration and news. With all this good news, we look forward to bringing more successful digital health solutions to the world, showcasing Bulgarian technology.

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