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<ul><li><strong> <keyword id="6365707" type="ORGANIZATION" weightage="60" keywordseo="ubs">UBS</keyword> said that investors will benefit from buying fintech, healthtech, greentech, and 5G stocks as these 4 sectors will disrupt the technology industry and become the dominant investment themes throughout the next decade. </strong></li></ul><ul><li><strong>These themes will dominate the market as last decade's leaders—technology and consumer discretionary—lag behind. </strong></li></ul><ul><li><strong>UBS added that the coronavirus pandemic triggered a permanent shift towards telemedicine and contactless payments, two investment themes with upside ahead.</strong></li><li><a href="https://www.businessinsider.com/?hprecirc-bullet?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest"><strong>Visit Business Insider's homepage for more stories</strong></a><strong style="color: #222222;">.</strong></li></ul><p>If the last decade was about <keyword id="35175" type="ORGANIZATION" weightage="60" keywordseo="investing">investing</keyword> in technology, the "Next Big Thing" in the 10 years ahead will be investing in "disruptors" in sectors ripe for technological transformation, according to UBS. In its "Year Ahead <keyword id="3718131" type="PERSON" weightage="60" keywordseo="2021">2021</keyword>" outlook note released last week, the world's largest wealth manager said that investments in fintech, healthtech, greentech, and 5G will dominate the market as broader technology stocks lag behind. <br /><br />"Since 1973, if a US equity sector was a top two performer over the previous 10 years, it had only an 8% chance of staying there over the next 10 years, and a 25% chance of fall- ing into the bottom two," UBS said. "This pattern suggests that 'the Next Big Thing' probably won't come from the top two sectors of the last decade: technology and consumer discretionary." <br /><br />Here are four up-and-coming investment themes that UBS says have massive upside in the next decade.</p><h3>Fintech</h3><p>The coronavirus pandemic has sparked a shift towards contactless and mobile payments and e-commerce that UBS says will lead to a permanent shift in consumer spending habits. At the beginning of 2020, cash and checks still accounted for 39% of payment flows around the world, indicating the fintech space has further growth ahead.</p><p>"We expect fintech firms to enjoy earnings growth rates in the mid-to- high teens over the next decade, making the industry one of the fastest-growing globally. We think the industry has the potential to expand to USD 500 billion by 2030 from USD 150 billion in 2018," said UBS. </p><h3>Healthtech</h3><p>UBS said the pandemic has simultaneously increased patient focus on health while reducing people's ability to access health care. Because of this, telemedicine will gain rapidly in the next decade. UBS added that investors should seek out stocks in advanced diagnostics as well. </p><p>"We think health technology will play a critical role in improving the efficiency and quality of healthcare in the decade ahead," UBS said.</p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/investing-strategy-top-percentile-fund-manager-how-he-invests-mcgill-2020-11">Brad McGill's fund is beating 99% of its peers this year. The small-cap manager shares how he invests for big wins and where he is finding opportunities amid a 39% return year-to-date.</a></em></p><h3>Greentech</h3><p>Investors should be on the lookout for opportunities in <keyword id="34553" type="ORGANIZATION" weightage="60" keywordseo="renewable-energy">renewable energy</keyword>, especially as more major economies of the world like the EU and Japan pledge to go carbon neutral in the next 30 years, UBS says. Today, only around 8% of global electric power is generated by solar and wind, but that figure will need to rise to around 30% to meet sustainability goals, indicating strong growth prospects for renewable energy. UBS also sees investment opportunities in batteries for electric vehicles and hydrogen energy. </p><h3>5G</h3><p> Following Apple's launch of its first 5G-enabled iPhone, UBS expects a wave of interest in the technology in a wide range of industries including real-time automation, video services, highly-connected smart cities, and connected vehicles. </p>

The world's largest wealth manager breaks down 4 sectors that will disrupt the technology industry and become major investment themes over the next decade

<ul class="summary-list"><li>Economic uncertainty has led to a wave of layoffs in the tech industry.</li><li>After the <a href="https://www.businessinsider.com/2021-has-been-a-record-breaking-year-for-venture-capital-2021-12">2021 boom</a> in venture capital investing, startups are cutting costs and slashing jobs.</li></ul><p>Economists may still be debating whether or not the US is entering a recession, but for the tech industry, the <a href="https://www.businessinsider.com/tech-layoffs-thousands-of-workers-lose-jobs-economic-crash-2022-11">pullback is fully underway.</a> </p><p>Layoffs have dominated headlines since the end of 2022, with big tech giants like <a href="https://www.businessinsider.com/google-layoffs-jobs-alphabet-work-employees-staff-sundar-pichai-2023-1">Google,</a> <a href="https://www.businessinsider.com/meta-layoffs-employees-facebook-mark-zuckerberg-metaverse-bet-2022-11">Meta</a>, and <a href="https://www.businessinsider.com/amazon-laying-off-17000-workers-largest-job-cut-tech-report-2023-1">Amazon</a> all announcing job cuts of thousands of employees. </p><p>The startup world has taken a huge hit as well: According to data from Layoffs.fyi, US startups — categorized as companies that have raised at least seed funding and up to Series J funding — laid off over 3,000 employees in January. Layoff totals for some companies were not available. By contrast, in January 2022, only about 180 startup employees faced layoffs. </p><p>That's about a 1,700% jump in job eliminations year-over-year — a stark illustration of how the <a href="https://www.businessinsider.com/great-hesitation-amazon-meta-alphabet-preparing-for-recession-2022-10">economic outlook in tech</a> has shifted over the course of the past 12 months.</p><p>Many of these companies raised large sums of venture capital funding before the market pullback. While 2021 was a <a href="https://www.businessinsider.com/2021-has-been-a-record-breaking-year-for-venture-capital-2021-12">record-breaking year</a> for venture capital investing, 2022 saw a sharp decline in dealmaking towards the end of the year, and many startups have struggled to raise more funds.</p><p>This has contributed to the wave of cost cutting throughout the industry. In the first month of 2023, 62 US startups laid off staff. And the job cuts have continued into February, with <a href="https://www.businessinsider.com/tech-layoffs-workato-clari-unicorn-startups-headcount-reduction-job-cuts-2023-2">unicorns Clari and Workato</a> among the companies trimming their staff.</p><p>Here's the full list of the US startups that conducted layoffs in January, according to data from Layoffs.fyi.</p><table dir="ltr" border="1" cellspacing="0" cellpadding="0"></colgroup></colgroup><tbody><tr><td><strong>Company</strong></td><td><strong>Industry</strong></td></tr><tr><td>Impossible Foods</td><td>Consumer</td></tr><tr><td>Oyster</td><td>Human resources</td></tr><tr><td>Prime Trust</td><td>Crypto</td></tr><tr><td>CoinTracker</td><td>Crypto</td></tr><tr><td>Ruggable</td><td>Consumer</td></tr><tr><td>Decent</td><td>Health and wellness</td></tr><tr><td>Nate</td><td>Consumer</td></tr><tr><td>DriveWealth</td><td>Fintech</td></tr><tr><td>Plus One Robotics</td><td>Logistics</td></tr><tr><td>Quora</td><td>Consumer</td></tr><tr><td>SirionLabs</td><td>Enterprise</td></tr><tr><td>CareRev</td><td>Health and wellness</td></tr><tr><td>Noom</td><td>Health and wellness</td></tr><tr><td>Innovaccer</td><td>Health and wellness</td></tr><tr><td>Bolt</td><td>Fintech</td></tr><tr><td>Offor Health</td><td>Health and wellness</td></tr><tr><td>Corvus Insurance</td><td>Insurance</td></tr><tr><td>Icon</td><td>Construction</td></tr><tr><td>Ermetic</td><td>Enterprise</td></tr><tr><td>Vox Media</td><td>Media</td></tr><tr><td>Citrine Informatics</td><td>Artificial intelligence</td></tr><tr><td>Cyteir Therapeutics</td><td>Biotech</td></tr><tr><td>Morning Consult</td><td>Enterprise</td></tr><tr><td>Hubilo</td><td>Enterprise</td></tr><tr><td>Hydrow</td><td>Health and wellness</td></tr><tr><td>Fandom</td><td>Media</td></tr><tr><td>Prisma</td><td>Enterprise</td></tr><tr><td>Jumpcloud</td><td>Enterprise</td></tr><tr><td>Addepar</td><td>Fintech</td></tr><tr><td>Cypress.io</td><td>Enterprise</td></tr><tr><td>Luxury Presence</td><td>Real estate</td></tr><tr><td>Snappy</td><td>Enterprise</td></tr><tr><td>Vial</td><td>Healthtech</td></tr><tr><td>Arch Oncology</td><td>Biotech</td></tr><tr><td>Jellyfish</td><td>Enterprise</td></tr><tr><td>Greenlight</td><td>Fintech</td></tr><tr><td>Career Karma</td><td>Edtech</td></tr><tr><td>Lattice</td><td>Human resources</td></tr><tr><td>Rock Content</td><td>Marketing</td></tr><tr><td>Flexport</td><td>Logistics</td></tr><tr><td>Tipalti</td><td>Fintech</td></tr><tr><td>Embark</td><td>Healthtech</td></tr><tr><td>Citizen</td><td>Consumer</td></tr><tr><td>Carta</td><td>Human resources</td></tr><tr><td>Limeade</td><td>Human resources</td></tr><tr><td>ConsenSys</td><td>Crypto</td></tr><tr><td>Parler</td><td>Consumer</td></tr><tr><td>100 Thieves</td><td>Consumer</td></tr><tr><td>Esper</td><td>Enterprise</td></tr><tr><td>Whoop</td><td>Health and wellness</td></tr><tr><td>Scale AI</td><td>Artificial intelligence</td></tr><tr><td>Carbon Health</td><td>Healthtech</td></tr><tr><td>Aware</td><td>Enterprise</td></tr><tr><td>Lantern</td><td>Consumer</td></tr><tr><td>Mojo Vision</td><td>Hardware</td></tr><tr><td>SuperRare</td><td>Crypto</td></tr><tr><td>Socure</td><td>Fintech</td></tr><tr><td>Genesis</td><td>Crypto</td></tr><tr><td>Attentive</td><td>Marketing</td></tr><tr><td>Astronomer</td><td>Enterprise</td></tr><tr><td>Augury</td><td>Manufacturing</td></tr><tr><td>Uniphore</td><td>Artificial intelligence</td></tr></tbody></table>

US startups laid off more than 3,000 workers in January — a 1,700% jump from the same month last year

<br /> Neeraj Joshi, CEO of Thingsmeet Solutions, zeroed down on <keyword id="2094" type="COMPANY" weightage="100" keywordseo="Pune">Pune</keyword> when he first decided to set up a health-tech venture, not only because of the time he had spent in the city as the centre head for Infosys or his network of contacts there. Another huge reason behind his choice of place was the easy availability of the kind of talent that he wanted. <br />
 <br />
"A lot of tech companies like Infosys and Syntel have their healthcare vertical headquartered here, so there is a lot of talent available," Joshi told <a href="http://economictimes.indiatimes.com/small-biz/startups/pune-is-new-hub-for-health-tech-startups/articleshow/53201409.cms">ET</a>. "Also institutes like Symbiosis Institute of Health Sciences and Ashtang Ayurveda ensure access to experts with domain knowledge and expertise."<br />
 <br />
It was only last month that Govin Capital, headquartered in Singapore, announced a health-tech accelerator in Pune, with its CEO Anand Govindaluri saying, "Pune has the best start-up ecosystem because of the natural presence of good medical, engineering and management schools. There is a natural flow of talent that is automatically attracted to Pune, and so identifying management teams for start-ups with diverse backgrounds is also easier." <br />
 <br /> Pune has seen a lot of <keyword id="3492724" type="UNKNOWN" weightage="100" keywordseo="health-tech-start-ups">health-tech start-ups</keyword> rising in the past few years, with companies like Medsonway, which delivers medicines, Docplexus, a doctor's network, Allizhealth, which lets you store your health data, and Medifee, which provides pricing information on tests and hospital procedures, all being founded here. <br />
 <br />
"There is a lot of noise in other cities; we wanted to do our groundwork and Pune provided the best environment to do that and stay under the radar. Pune lacks investor attention, but its better this way - it helps companies focus on the basics and bootstrap. Investors will get involved only when they really want to invest," said Abhijit Gupta, CEO of Praxify Technologies.<br />
 <br />
However, Anurav Rane, CEO of Planmymedicaltrip.com, a medical tourism portal, says that the lack of access to investors is a major problem when it comes to Pune. <br />
 <br />
"Pune is a technology hub but the start-up ecosystem needs to improve. What works for it, however, are factors like proximity to Mumbai, and for us, a large out of-town population of students and professionals, which helps create demand for our services," he said. <br />
 <br />
Abhimanyu Bhosale, CEO of Live Health, is of the opinion that along with easy access to talent because of the educational and tech presence that Pune offers, several other factors like the quality of life and cost of living also make Pune substantial. <br />
 <br />
"The high cost of talent in other cities like Bengaluru can make it difficult to find the right people if you are a start-up. Though Pune lacks investor support, it's not as commercialised, making it easier to manage the cost of operations, management and travel," he added.<br />
<br />
<a href="http://knowstartup.com/wp-content/uploads/2016/06/knowstartup.com-health-tech.jpg"><em>Image source</em></a><br />

Here is why Pune has become the hub of all major health-tech start-ups

<ul><li><strong><keyword id="3851366" type="PERSON" weightage="20" keywordseo="Anthill-Ventures">Anthill Ventures</keyword>, a ‘speed-scaling’ platform, has tied up with Singapore government’s <keyword id="7388424" type="UNKNOWN" weightage="20" keywordseo="enterprise-singapore">Enterprise Singapore</keyword> to give <keyword id="1146406" type="COMPANY" weightage="20" keywordseo="market-access">market access</keyword> to startups from both countries. <br /></strong></li><li><strong>The program will benefit 18 startups every year.<br /></strong></li><li><strong>India has been a rising market for Southeast Asian investors, with many of them setting up shop in the country.</strong></li></ul>Anthill Ventures, an Indian ‘speed-scaling’ platform that funds startups and then helps them scale just got a big thumbs up from the Singapore government. <br /><br />It has partnered with Enterprise Singapore, the government agency responsible for developing enterprises and fostering Singapore’s startup ecosystem. <br /><br />The platform then announced the launch of <keyword id="7421002" type="UNKNOWN" weightage="20" keywordseo="A-scale">A-Scale</keyword>: an Asian market access programme for healthtech, mediatech and urbantech startups based in Singapore. The six-month speed-scaling programme is targeted to benefit 18 startups every year, giving them the required capital as well as access to business scaling use cases. <br /><br />The Asian startup ecosystem has fast evolved to be on that has attracted funds and consumers both. According to a <a href="https://www2.deloitte.com/jp/en/pages/strategy/articles/vs/asian-investment-trends.html">Deloitte</a> report, the number of Asian startups that have raised funds has tripled and the investment amount has gone up five-fold in the last few years. <br /><br />Many <keyword id="982553" type="PERSON" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> are looking at South East Asia as a prime market and vice versa.<br /><br />“Being a startup hub, Singapore was an easy choice to be the gateway to Anthill’s ecosystem. I envision A-Scale as the mothership of all our programs - to bring startups from HealthTech, UrbanTech &amp; MediaTech in, and help then Scale with Speed through market access in Asia,” Prasad Vanga, founder and CEO of Anthill Ventures told Business Insider. <br /><br />But how did a speed scaling platform manage to gain a partnership with the Singaporean government? <br /><br />“In itself, Singapore may not provide the mass market opportunity that India and other Southeast Asian countries are. Anthill is able to provide these startups with market access connections in their target markets to help them scale,” said Vanga. <br /><br />Under the partnership, Anthill has received a grant from Enterprise Singapore, which allows them to fund the necessary events &amp; facilitate the right opportunities for the selected startups in the program. <br /><br />India as a market has also <a href="https://economictimes.indiatimes.com/small-biz/startups/features/for-indian-startups-a-new-surge-of-asian-investors-means-rethinking-everything/articleshow/64991175.cms">attracted investors </a>from South East Asia. While Softbank, Tencent, Temasek and others are the big ones that have entered the Indian market by investing in big startups, many others like Incubate Fund have also built an India office to take on the opportunity that Indian companies present. <br /><br /><strong>See Also:</strong><br /><a href="https://www.businessinsider.in/google-will-groom-these-10-indian-startups-that-use-ai-and-machine-learning/articleshow/68384856.cms">Google will groom these 10 Indian startups that use AI and machine learning</a><br /><a href="https://www.businessinsider.in/large-ticket-deals-drive-rise-in-private-equity-investments-in-india-this-year/articleshow/68296615.cms">Large ticket deals drive rise in private equity investments in India this year</a><br />

The Singapore government is backing this Indian accelerator that promises to be a gateway for startups in the two countries

<p><div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="Flickr/David Goehring" title_caption="White whale, holy grail." class="zoomin" href="https://static-ssl.businessinsider.com/image/55bb8cf3dd089516358b46b8-960/8757020626_ea79952f68_k.jpg"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span>Flickr/David Goehring</span></p><p class="caption">White whale, holy grail.</p></div><p></p></div></div>European tech is heating up: In 2014, <a href="http://www.gpbullhound.com/wp-content/uploads/2015/06/GP-Bullhound-Research-Billion-Dollar-Companies-2015.pdf">13 startups became "unicorns," with valuations of $1 billion or more</a>. It's a huge jump from just a year before, which saw the birth of only three of the mythical creatures. </p><p>Fueling this growth is an ambitious collection of European venture capital funds, investing capital into the ecosystem in the hopes of getting in on the ground floor of the next Spotify or Skype - as well as looking at other sectors, including health-tech, energy, and more traditional business.</p><p>With the help of venture capital tracking company CB Insights, Business Insider has ranked the biggest European funds raised since 2010, by size.</p>

The 19 biggest European tech venture capital firms [ranked]

<ul class="summary-list"><li>We asked hundreds of top venture capitalists to name the most promising startups of 2022. </li><li>VCs were asked to name companies inside and outside of their portfolios.</li></ul><p>Each year, we reach out to hundreds of VCs at nearly 100 firms and ask them to tell us which early stage startups are the most promising of the year.</p><p>VCs were asked to name startups within their portfolio — after all, they liked those startups so much they invested — as well as outside their portfolios — after all, they are the startup experts and can't invest in them all.</p><p>And they were also asked to name startups across all stages, particularly earlier-stage companies that are not widely known.</p><p>This year, our research was particularly insightful because it's been a tumultuous time in startup land. VCs have grown <a href="https://www.businessinsider.com/economic-downturn-venture-capitalists-advice-for-startups-sequoia-a16z-2022-5">tighter with investments</a> and startups that were not well-prepared to weather the cold have struggled.</p><p>Layoffs have even hit some of the darling industries of 2021 like <a href="https://www.businessinsider.com/fintechs-layoffs-job-cuts-tech-bubble-bursts-robinhood-2022-5">fintech</a>, <a href="https://www.businessinsider.com/digital-health-startups-lay-off-employees-2022-6">healthtech</a>, and <a href="https://www.businessinsider.com/real-estate-tech-layoffs-25-companies-that-have-laid-people-off-2022-7">proptech.</a></p><p>Below, we list hundreds of the most promising startups of 2022, sorted by industry.</p><h2>Advertising tech:</h2><p><a href="https://www.businessinsider.com/the-19-most-promising-adtech-startups-of-2022-according-vcs-2022-9?r=startups2022">The 19 most promising advertising and marketing tech startups of 2022, according to VCs</a></p><h2>Artificial intelligence:</h2><p><a href="https://www.businessinsider.com/13-most-promising-earlier-stage-ai-startups-this-year-2022-11">The 13 most promising early-stage artificial-intelligence startups of 2022, according to VCs investing in companies building technical infrastructure and developing tools</a></p><h2>Biotech:</h2><p><a href="https://www.businessinsider.com/list-top-biotech-startups-vcs-investors-new-companies-2022-7">Meet the 23 biotech startups that are set to take off in the next 12 months, according to top VCs</a></p><h2>Boston-area biotech:</h2><p><a href="https://www.businessinsider.com/top-10-biotech-startups-in-the-boston-area-2022-8">10 Boston-area biotechs that VCs say are poised to take off in the next year</a></p><h2>Business-to-business (B2B) marketplaces:</h2><p><a href="https://www.businessinsider.com/most-promising-b2b-marketplaces-according-to-investors-startups-2022-11">23 of the most promising B2B marketplaces of 2022, according to investors</a></p><h2>Climate tech:</h2><p><a href="https://www.businessinsider.com/most-promising-climate-tech-startups-picked-by-top-vcs-2022-8?r=startups2022">The 37 most promising climate-tech startups of 2022, from microplastics to toilets, according to top VCs</a></p><h2>Cloud computing and Software-as-a-Service:</h2><p><a href="https://www.businessinsider.com/most-promising-saas-startups-of-2022-according-to-vcs-2022-10?r=startups2022">The 16 most promising cloud-software startups of 2022, according to VCs</a></p><h2><strong>Consumer tech: </strong></h2><p><a href="https://www.businessinsider.com/most-promising-consumer-tech-startups-of-2022-8?r=startups2022">The 27 most promising consumer startups of 2022, according to VCs</a></p><h2>Creator economy:</h2><p><a href="https://www.businessinsider.com/top-14-creator-economy-influencer-startups-according-to-vcs-2022-9">The 14 most promising creator economy startups of 2022, according to top VCs</a></p><h2>Crypto:</h2><p><a href="https://www.businessinsider.com/most-promising-crypto-web3-startups-of-2022-2022-9?r=startups2022">The 53 most promising crypto startups of 2022, according to VCs</a></p><h2>Cybersecurity:</h2><p><a href="https://www.businessinsider.com/13-most-promising-cybersecurity-startups-security-2022-9">The 13 most promising cybersecurity startups of 2022, according to VCs</a></p><h2>Education tech: </h2><p><a href="https://www.businessinsider.com/23-most-promising-edtech-startups-2022-according-to-vcs-2022-8?r=startups2022">23 of the most promising edtech startups of 2022, according to top edtech VCs</a></p><h2>Fintech:</h2><p><a href="https://www.businessinsider.com/fintech-startups-best-promising-technology-trading-banking-investing-2022-9?r=startups2022">The 61 most promising fintechs changing the world of banking, trading, and investing, according to top investors</a></p><h2>Health tech:</h2><p><a href="https://www.businessinsider.com/21-most-promising-health-tech-startups-2022-according-to-vcs-2022-8?r=startups2022">The 21 most promising healthtech startups of 2022, according to top VCs</a></p><h2>Real estate/property tech:</h2><p><a href="https://www.businessinsider.com/real-estate-promising-proptech-startups-investors-vcs-2022-9?r=startups2022">The 21 most promising proptech startups of 2022, according to VCs</a></p><h2>Retail tech:</h2><p><a href="https://www.businessinsider.com/venture-capitalists-name-most-promising-2022-retail-startups-2022-8?r=startups2022">24 of the most promising retail startups of 2022, according to top VCs</a></p><h2>Supply chain tech:</h2><p><a href="https://www.businessinsider.com/supply-chain-startups-to-watch-2022-8?r=startups2022" target="_blank" rel="noopener noreferrer">VCs reveal 41 supply chain startups they're betting on to help solve global logistics chaos</a></p><h2>Transportation sustainability tech:</h2><p><a href="https://www.businessinsider.com/top-sustainability-startups-according-to-vcs-2022-4">The 36 most promising sustainability startups in transportation, according to top VCs</a></p><h2>Women's health tech:</h2><p><a href="https://www.businessinsider.com/35-most-promising-femtech-startups-investors-women-health-2022-10">34 of the most promising women's health startups of 2022, according to VCs</a></p>

Over 460 of the most promising startups of 2022 in edtech, fintech, crypto, cloud, proptech and more, according to VCs

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Courtesy Health2047</span></p><p class="caption">Health2047 CEO Dr. Douglass B. Given and AMA CEO Dr. James L. Madara</p></div><p></p></div></div>It's no big secret that Silicon Valley is taking its time to disrupt the health care system, though not for lack of trying.</p><p>But from apps to cloud systems to internal computer systems that store patient information in hospitals that work to make patient information easily share-able, there's still a disconnect and sometimes even a seeming unwillingness for doctors to adopt the technology.</p><p> <span>"We have this incredibly fragmented system," Dr. James Madara, CEO of the American Medical Association, America's largest organization of physicians, told Business Insider. "The physician is really at the epicenter of what has to happen around the patient, and in getting services and products into the marketplace, what we've learned is that physicians have relatively little input or guidance."</span></p><p><span>That's why Madara is launching <a href="https://www.health2047.com/">Health2047</a>, a company that hopes to get physician voices into the health-tech picture. Madara, who will serve as chairman alongside CEO Doug Given, a venture capitalist and doctor who specializes in infectious disease</span><span>. The San Francisco-based company says they plan to work with startups and established healthcare and tech corporations to try and build products that physicians will use.</span></p><p><span>Given and Madara told Business Insider that these are the key ways they plan to help bridge the health-tech gap:</span></p><ul><li><span style="line-height: 1.5em;">Collaborating with enterprise and mobile tech companies</span></li><li><span style="line-height: 1.5em;">Working internally to develop health-tech solutions</span></li><li><span style="line-height: 1.5em;">Partnering with startups with the hope that health care technology could go from "Innovation Stage 1.0" to "Innovation Stage 5.0"</span></li></ul><h3>"A lot of noise but not very much signal"</h3><p>The main problem, according to Given, is that while thousands of apps directed at improving health have come out in the past few years, only a tiny portion were assessed by actual doctors.</p><p><span><span>"Among the tens of thousands of initial apps that have emerged, we have a lot of noise but not very much signal," Given said. "Very few of these went through a regulatory process to evaluate how they interact with patient safety and whether or not they were an integral part of the </span>work flow<span>."</span></span></p><p>But there are a lot of physicians out there who Given thinks could be a huge untapped resource.</p><p><span>There are <a href="http://www.bls.gov/ooh/healthcare/physicians-and-surgeons.htm">more than 700,000 physicians and surgeons</a> in America, and they have a big influence over how money gets spent within the $3 trillion healthcare sector. That's a group with a lot of potential influence. Physicians tend to be early adopters when it comes to <a href="http://onlinelibrary.wiley.com/store/10.1002/cncr.26271/asset/26271_ftp.pdf?v=1&amp;t=ij6a6amg&amp;s=b4ceed15b83aa25b64df58b32e5813adc77d8e16">robotic surgery</a> or new treatments, for example. Meanwhile, they haven't been as interested in information technology, and as of 2013, <a href="http://www.cdc.gov/nchs/data/databriefs/db143.htm">only 78% of physicians</a> used electronic health records. </span></p><p>Madara says he thinks the reason for that is because the technology isn't very good. </p><p><span>The AMA is investing </span><span>$15 million to become a founding partner, and the name "Health2047" is a nod to the AMA, which was founded in 1847. </span></p><p><span>"In 1847, medicine in the United States was chaotic in different way," Madara said. Quackery was rampant, education standards weren't in place, which prompted the creation of the AMA to get everything in order. "Today, we're facing a different, sophisticated environment ... but we have a chaos that needs to be resolved by mid-century, and that is converting what's not a system into a system."</span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/therapist-reveals-key-good-sex-life-2015-12">Couples therapist reveals the key to having a good sex life</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="RjMzlycTqwU1VIe--XShYG_2hPREFuio" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

America's biggest group of doctors just launched a startup aimed at solving a growing problem with healthcare

<ul class="summary-list"><li>The healthcare market looks nearly ready for the next wave of IPOs.</li><li>Barclays' Jon Swope says IPO hopefuls should prepare by increasing the awareness of their companies.</li></ul><p>It's been a rough few years for healthcare initial public offerings. But the next wave of public healthcare companies looks to be on the horizon.</p><p>At least two healthcare companies are considering public-market debuts in the not-so-distant future. The diabetes startup <a target="_blank" class="" href="https://www.businessinsider.com/exclusive-omada-health-confidentially-filed-s1-ipo-public-2024-10">Omada Health confidentially filed its S-1 this summer</a>. And the physical-therapy startup <a target="_blank" class="" href="https://www.businessinsider.com/hinge-health-s-1-morgan-stanley-ipo-2024-9">Hinge Health has hired banks including Barclays</a> as it prepares to file its S-1 confidentially.</p><p>Hinge and Omada likely aren't the only healthcare companies <a target="_blank" class="" href="https://www.businessinsider.com/healthcare-startups-ipo-public-markets-reopens-2024-1">weighing an IPO as market conditions improve</a>.</p><p>Jon Swope, a managing director in Barclays' healthtech division, told me he expects a pickup in healthcare IPOs in 2025 after a three-year drought.</p><div type="image" title="A headshot of Jon Swope." height="1200" width="846" msid="114356715" hostid="261" sizebytes="24914"></div><p>I spoke with him about what the next wave of healthcare IPOs could bring — and which healthcare startups are in the best position to test the public markets.</p><p><em>The following has been edited for clarity and length.</em></p><p><strong>In the past few years there have been a number of take-privates and near-delistings in healthcare, as well as plenty of healthcare companies that have otherwise struggled in the public markets. What can we learn from those companies' challenges, and how might they impact the next round of healthcare IPOs?</strong></p><p>The whipsaw of the public markets over the last five years has created a challenging backdrop, even with the overall market improving.</p><p>From 2019 through 2021, nearly 20 companies went public through IPOs or SPACs in healthtech. At its peak, the total market cap for healthtech and digital health was over $300 billion. Through both take-privates and declines in share prices, that's down to just about $90 billion.</p><p>Large take-privates like Change Healthcare, Nuance, Cerner, Inovalon, and others are part of the story. The other part is that, on average, the companies that went public or were already public are down by about 80% — names like Teladoc, Accolade, and Health Catalyst.</p><p>The enthusiasm that supported the last wave, with respect to the positive and innovative business models in healthtech and digital health, is not gone. It's just that these companies haven't been able to achieve growth with profitability. When there's a next set, there's going to be more of a focus on growth and profitability.</p><p>You see that in the IPOs that happened this year: Waystar and Tempus. Waystar is large-scale, profitable, with growth, and Tempus has the promise of AI, high growth, and emerging profitability. Both have performed since their public debut.</p><p><strong>In the private sphere, many investors have leaned away from healthcare services and into healthcare AI. What models do you expect the healthcare market to favor in this next round of IPOs?</strong></p><p>There are three general categories that are investible in healthtech and digital healthcare. One is simply data and then technology and healthcare. Healthcare is arguably two decades behind every other industry in the adoption of technology. Whether it's software, tech-enabled models, or, importantly, the data opportunity and AI opportunity, tech and data infrastructure for healthcare is No. 1.</p><p>No. 2 is consumer-centric models, such as some B2B2C models, the employer and payer digital-health models, or even direct-to-consumer models. Look at <a target="_blank" class="" href="https://www.businessinsider.com/inside-hims-founders-journey-to-go-public-via-spac-2021-1">the performance of Hims</a>, which has emerged from its post-SPAC purgatory.</p><p>Consumer-centric healthcare is the future of healthcare, and it's becoming more of our collective reality. The companies with consumer-centric business models that deliver longitudinal engagement and outcomes, financial and clinical, for consumers and the payers of healthcare, both employers and insurance companies, are certainly on the list.</p><p>No. 3 is value-based care. Much has been made of that as a category, tying together costs and outcomes. And while some of the brick-and-mortar value-based care companies have had their own challenges, support for the adoption of value-based care by providers will continue to be where healthcare is going.</p><p><strong>Are there models in healthcare that you think are perhaps not the best fit for the public markets right now?</strong></p><p>The less complex the elevator pitch, the better. While I can't say there's a model that's not a fit, what we heard from investors as things were bending in the wrong direction last boom cycle was: "Wait, what did I just buy? I'm not sure I fully understand this company's business model."</p><p>Now you have to juxtapose that against the reality of healthcare, which is complex. So it's companies that can articulate a clear and simple story while also navigating the layers of the healthcare ecosystem in executing on their business model.</p><p>That includes riding the existing rails. In the last five-plus years we've seen companies figuring out how to work with the payers and providers that make up the healthcare ecosystem to bring innovation and disruption to how we experience healthcare.</p><p><strong>Given the major slowdown in SPAC deals in the past few years and Nuvo's poor performance (</strong><a target="_blank" href="https://www.bloomberg.com/news/articles/2024-08-22/newly-public-pregnancy-care-firm-nuvo-files-for-bankruptcy"><strong>and bankruptcy</strong></a><strong>) this year, could we see more SPAC deals for healthcare startups next year?</strong></p><p>It's a four-letter word for the foreseeable future. I imagine there will be SPACs created, and there are still others that haven't run out of time, but it's unlikely that we see companies using that vehicle that could go public the regular way.</p><p><strong>For startups that don't go public, will we see M&amp;A pick up in 2025? With large retailers like Walmart pulling away from healthcare, who are the potential buyers?</strong></p><p>M&amp;A is picking up already, as evidenced by volume this year, and it will continue to, particularly in an easing financing environment and macro backdrop where bid-ask spreads are narrowing.</p><p>The consolidation activity is in three categories. First, there are the large-cap consolidators including retailers, payers, and Big Tech. There will be deals there, but there are only so many that will be done by that group, which is not much more than a dozen companies.</p><p>The next is large-cap, and often private-equity-backed, <em>healthtech</em> consolidators. A number of them are private and will continue to be buyers.</p><p>The third category is just smaller mergers of equals. Especially for enterprise sales, selling into payers or selling to providers, scale matters, and so size matters. We'll see small companies merge with other small companies to get there.</p><p><strong>Anything else startups should know that might impact this next cycle of IPOs?</strong></p><p>While these companies that went public in the last cycle may not have fulfilled their promises, they set the stage for an attractive IPO market by going public the right way — executing on the business and growing it, and increasing awareness around the company well in advance of an IPO.</p><p>At the back end of the last boom wave there was a rush to go public, and SPACs were examples of that. I think that in the 2025, 2026, and 2027 IPO classes, there will be a number of companies that think about it the right way, not rushing to get to the public market.</p>

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