Technology in health & life sciences drives the real transformation of society
Technology, mainly through startups, has brought about a paradigm shift in the health and life sciences sector: accessibility, democratization and personalization of services are concepts that are transforming the relationship between people and the healthcare environment and system, from prevention to treatment and care.
The startup boom in Spain began almost two decades ago, focused on digital services and e-commerce sectors: it was the time of the first ticket reservations or online purchases. We have made a great leap. But the real transformation of society occurs when technological improvements have an impact on strategic sectors for people such as health and healthcare.
Globally, 2021 was a decisive year for the healthtech and biotech sector, ranking second only to fintech in terms of investment raised by venture capital funds, with more than 100 billion dollars raised. According to Biocat data, investment in Catalonia in health startups has broken records with more than 283 million euros raised, and the life sciences ecosystem accounts for 9% of Catalan GDP.
The health sector in the Barcelona ecosystem represents entrepreneurial potential at its best: it was born in the late 1990s, when it began to bear fruit on the conjunction of all the elements of the ecosystem. This is a country of pharmaceutical companies (local, family-owned or multinational), which have become a global industry; there is a tradition of doctors and very good hospitals, and above all, a large network of research centers that are a great pole of attraction for talent, at a global level (from the pioneering Parc Científic de Barcelona to the Caixabank Research Institute that will be operational in 2024).
On this base now converge the new technologies that are transforming the world: artificial intelligence, 3D, blockchain, IoT or virtual and augmented and interactive reality. Moreover, this evolution of the health and life sciences sector expands and interrelates with other industries that a priori are not connected, such as food or construction. It is not so far away that smart homes will integrate prevention or care services that were reserved for hospitals or that we could not even contemplate.
An unlimited field of opportunities has opened up to us. And to respond to them, the flexibility, agility and creativity of startups are key. It is the new technology-based companies that propose and develop disruptive solutions or products in a way that would be much more difficult to approach from large companies.
The concept of trial and error -the concept of risk- is innate in startups and there are already mechanisms -financial- for their progress. And it is in their maturation process that large corporations have to intervene, as they are the ones that know the market extensively and have the resources. This is what an ecosystem consists of: the connection of all the agents, from science to the market, from research to business, so that the processes flow as efficiently and successfully as possible. This is a necessary change of mentality and it is what we promote from Tech Barcelona. Connecting startups with all the players in the ecosystem (investors, corporations, universities, administrations, institutions) and the transfer between the different industries, from health to retail or mobility, with a common goal: to promote a transformative sector that has positioned Barcelona as one of the first digital and technological hubs in Europe.
Mar Galtés Chief Corporate Development Officer Tech Barcelona
Paula Serra BI & Project Manager en Tech Barcelona
