Some names to come out of the health startup world we’ve all heard of: Fitbit, Jawbone and, of course, MyFitnessPal. But bubbling away under the surface are a bunch of new companies, many of which are promising exciting innovations, and yet are dramatically undervalued.
Right now, investors don’t seem to all that interested in the health biotech startup arena at all, but that is probably because they don’t understand the seismic shifts that are coming to the industry. Health is changing – it’s becoming digital – and that means it’s likely to explode in the same way that the current software, hardware, and computing industries have done over the last few decades.
The current trend at the moment is towards companies leveraging the hardware and software advances made in the computing industry and using them for tech applications. Precision manufacturers in the electronics industry, like Laser Light, are being repurposed and refitted to deal with the demand from new medical device startups. You can learn about Laser Light here. What it points to is a world that is dramatically different for businesses than anything we’ve seen since the computer revolution arrived.
Check out these up and coming companies.
Neumitra is a startup that is currently focusing on developing some of the most advanced medical devices in the world. Currently, it’s focusing on devices that act as biosensors for the nervous system and the brain. It’s connected them to apps that use advanced algorithms that track physiological parameters. It then combines these with its statistical models and helps users track their stress levels in real time throughout the day. It comes with an app that allows users track their data and offers advice about how to relax and when it is that they appear to be getting the most stressed.
MisFit Wearables is a company currently designing two consumer health monitoring devices, one for fitness and the other for sleep. The most interesting is probably the sleep monitor, which allows users to track how long they’re sleeping, and whether or not their sleep is high-quality. There is also a companion app that users can use to share their data with their friends.
SkinVision isn’t a hardware company. Instead, it’s looking to leverage the power of smartphones and sophisticated software. Currently, it’s focusing on skin cancer. The idea is for patients to take pictures of their moles or patches of skin that they are worried about and then send these images off to the company. SkinVision will then use it’s smart software to give concerned patients feedback about their moles and whether they are potentially cancerous. There’s also advice on the app about how to reduce UV exposure.
The idea behind Wellframe is to build systems that help to transform patient care. The company’s aim is to improve the quality of wellness management by making the entire operation more mobile. They’re developing a system of care checklists, where health providers and patients can stay more connected. The company is also developing intelligent algorithms designed to predict whether a patient might develop a problem.