StartUp Health Co-Founder on Innovation, Failure, and Persistence
Innovation is tough. "Failure is definitely part of the process. It becomes an opportunity if you can transform each failure point into a navigation beacon to solve the next problem," says Unity Stoakes, co-founder and president of StartUp Health.
This week, the conclusion of my conversation with Unity Stoakes, co-founder and president of StartUp Health, which runs a three-year "startup academy" for healthcare technology companies. Read Part I.
HLM: Do you believe the role that an organization like StartUp Health plays will be complemented by the innovation centers I see springing up at healthcare institutions themselves, whether that be Partners or Mayo or whoever? Some of the inventors are coming right out of healthcare – doctors who are tech savvy.
Stoakes: We have to work together. There's been a lot of wonderful innovation centers internally at some of the largest stakeholders in healthcare. Those can be good for intrapreneurship, where there's great talent within these companies that can keep building things. But a lot of the great invention throughout history comes from new startups that think about solutions in completely different ways.
There's a serendipity approach. There's a naiveté approach, where some of the best solutions get created almost by accident, from outsiders. But you'll see a bridging of the gap where those leaders in healthcare will start to acquire some of these companies, will start to invest in some of these companies. We're already seeing this.