What investors are saying about startups in the age of coronavirus
The novel coronavirus represents a global pandemic the likes of which haven’t been seen for roughly a century, and has put enormous pressures on the healthcare system and the economy alike.
To date the World Health Organization reports 209,839 confirmed cases and 8,778 deaths due to the virus. Healthcare providers and government agencies have scrambled to find ways to treat and stop the spread of the disease.
Digital health has quickly come onto the world stage – with telemedicine acting as a substitute for in-person visits, and chatbots filling in for nurse triage lines. However, like the rest of the world, the industry still faces an unknown financial future.
The pandemic has also caused major economic ripples. With the bulk of shops, restaurants and bars closed in the United States, the country could be facing soaring unemployment rates within the next year. Additionally, yesterday the stock market closed at a three-year low.
So what does the healthcare demand and the shaky financial footing mean for health tech startups? MobiHealthNews spoke to digital health investors, stakeholders and consultants about what the coronavirus will mean for startup investment, as well as about the opportunity and responsibility to contribute to this global crisis.