How Does AWS Support Startups Through the AWS Health Innovation Podcast
AWS Health Innovation Podcast showcases startups that are advancing healthcare & life science by leveraging cloud computing technology.
The host of the show is Alex Merwin - Head of Growth, Healthcare & Life Sciences Startups at Amazon Web Services (AWS).
AWS is a cloud infrastructure provider, giving startups is a platform that can be used to create an agile, scalable, and compliant technology infrastructure, for any sort of product, explains Alex Merwin.
In this episode, Alex and Tjasa Zajc, host of Faces of digital health podcast, talk about AWS Health Innovation Podcast and Faces of digital health, their findings on the podcasting journey, Alex also shared his insights from working with startups.
7 things startups should be mindful of
Be Cautious with Capital:
Be mindful about where you take capital from.
Understand the implications of accepting institutional funding, especially from venture capitalists (VCs).
Realize that investors, particularly VCs, will have expectations and may want a seat on your board.
Consider Alternative Funding:
Explore public investment and grants, especially in sectors like healthcare.
Consider spending initial years utilizing public grant capital and deeply engaging with customers.
Be aware that while public grants may not demand immediate returns or equity, they may have their own stipulations and requirements.
Understand Investor Expectations:
Recognize that investors will expect returns on their investment.
Be aware of the growth expectations from VCs and how it aligns with your startup’s goals and capacity.
Investigate the profiles of other companies within a VC's portfolio to understand their investment and growth patterns.
Adopt a Customer-Centric Approach:
Engage deeply with your customers and understand their needs and pain points.
Consider adopting a customer-centric approach, akin to the "Amazonian approach," to develop solutions that are truly valuable to your target market.
Strategic Growth and Development:
Sometimes, slower, more strategic growth can be beneficial.
Focus on refining your use case, especially if working on project-based grants with institutions.
Ensure that your growth strategies are scalable and can be generalized for broader application in the future.
Passion and Problem Solving:
Ensure that your passion for technology or solutions is matched with a clear understanding and love for solving a real-world problem.
Be wary of accepting substantial funding without a clear path for delivering on growth expectations.
Ensure that the problem you are solving is scalable and applicable to a wider audience to meet growth expectations.
Balancing Ambition and Reality:
Keep ambitions for growth in check with what is realistically achievable.
Ensure that your startup’s growth and development milestones are in alignment with the expectations of your funding sources.
Tune in to the full episode: