Preventing Heart Attacks with AI Imaging

In regulated industries, fundraising milestones should align with achieving regulatory approvals and demonstrating cost-effectiveness.

"You have to prove that it actually influences the patient's life in a good way and can improve the patient health outcomes... on a foundation that demonstrates that you should really reduce the cost of the healthcare system."

• Align milestones with regulatory goals.
• Demonstrate clinical and economic benefits.
• Use data to support fundraising.

Driving adoption in healthcare requires proving that your product improves patient outcomes and integrates into existing workflows.

"Adoption of new technologies need to be proven to actually help, not harm patients, otherwise nobody's going to adopt them."

• Provide evidence of patient benefits.
• Comply with regulations to build trust.
• Integrate into existing workflows.

Deciding what to build first requires balancing completeness with the need to deliver value early.

"We just felt like all of the stuff that was important to doctors and to patients should be included in the platform, and so we spent time to do that."

• Identify critical features for users.
• Include essential functionalities upfront.
• Avoid rushing without comprehensive planning.

Extensive planning is crucial when developing complex AI products, especially in regulated industries.

"We spent time to do that. We had an amazing engineering group... we architected it out from the get-go, and we were extremely diligent in that architecting process."

• Invest time in thorough planning before coding.
• Diligent architecture ensures robustness.
• Early planning avoids issues later.

Being mission-driven provides motivation and purpose, helping sustain startups through challenges.

"We have an extremely mission-driven company and all of us wake up in the morning and go to sleep at night looking in the mirror saying, we are trying to do good for mankind."

• A strong mission unites the team.
• Purpose fuels perseverance in tough times.
• Focus on impact enhances motivation.

Embracing failure is crucial as it fosters learning and growth in the entrepreneurial journey.

"If you cannot tolerate failure... you shouldn't start a company... cause you're gonna fail, and you're gonna fail over and over and over again, and the goal is to fail better and fail faster."

• Accept failure as inevitable in startups.
• Use failures as opportunities to improve.
• Build resilience to overcome challenges.

Startups often face financial crises, and overcoming them requires resilience and support.

"I mean, during the pandemic... we were 17 days away from being out of operating capital. That was a dark month."

• Plan for financial uncertainties with contingencies.
• Leverage support from friends and family during tough times.
• Maintain resilience to navigate through critical moments.

Applying AI in medical imaging requires overcoming unique challenges due to data complexity and the need for precision.

"We have multiple softwares... The most important thing that we could have done is to get all of that actionable data out of the images... The problem with that is like if I hand that over to you, it's like me speaking French."

• AI must handle complex, precise medical data.
• Translate AI results into actionable insights for clinicians.
• Ensure seamless integration into healthcare workflows.

In healthcare, finding product-market fit involves navigating regulations and achieving adoption by both doctors and patients.

"You can feel it as a founder... you start to feel like, OK, maybe the rock's a little bit lighter, and then at some point you feel like, hey, we went from a push to a pull where suddenly some customers are calling you."

• Customers begin to seek out your product.
• Adoption by clinicians signifies true fit.
• Persistence transforms initial resistance into demand.

Fundraising for healthcare startups requires strategic planning due to long development timelines and regulatory hurdles.

"When we did the Series A round, that was led by high net worth individuals and friends and family, and that was really just for product development."

• Start with investors who understand your mission.
• Use initial funds to reach key milestones like FDA approval.
• Align milestones with future fundraising needs.