Reality Check Talk II: Dr. Sofoklis Kyriazakos on Healthcare Startups

On Wednesday June 24, 2020 the Alba Hub for Entrepreneurship and Development (AHEAD) welcomed Dr. Sofoklis Kyriazakos for the second Reality Check Talk. Each Reality Check Talk is organized exclusively for Alba Students to bridge the classroom with entrepreneurial experience and action. These talks include a short introduction by our guests and then students ask questions. They follow Chatham House Rules to ensure that participants get the most out of the discussion

The discussion touched upon challenges and opportunities for startups in the healthcare industry. Sofoklis went through the startup life-cycle to underline key differentiations for such a challenging sector. He identified MedTech and Digital Therapeutics opportunities in patient empowerment, wellness and personalized health. Our speaker also talked about the Innovator’s Dilemma and drew from the Lean Startup Methodology.

The key takeaways from the Talk were:

• Healthcare market is very promising
• Niche markets, such as MedTech and DTx offer lots of opportunities
• Small players and newcomers have a good track record
• Beware of the regulations and the barriers to entry

Dr. Sofoklis Kyriazakos, a serial entrepreneur and academic, shared his insights from setting up businesses in the health industry. Sofoklis earned his Master’s degree in Electrical Engineering and Telecommunications in RWTH Aachen, Germany, and his Ph.D. in ICT systems and an MBA degree in Techno-economic systems in the National Technical University of Athens. He holds the position of Associate Professor in the University of Aarhus in Denmark, where his activities focus around Innovation Management and Entrepreneurship in the eHealth domain. He has managed, as both technical manager and coordinator, a large number of multi-million ICT projects, at both R&D and industrial level. In 2006 Sofoklis founded Converge SA, an ICT startup with specialization in software integration. In 2016, after having steered successfully the company from the position of Managing Director, he resigned to co-found Innovation Sprint Sprl, a company in the eClinical sector, where he is currently the CEO.