TechCrunch - Startup Battlefield winner Salva Health is changing the game in breast cancer detection
Salva Health, led by CEO Valentina Aguodelloo, focuses on improving healthcare access for women in rural areas through early disease detection. Their flagship product, Julieta, is a portable, painless device designed to detect breast cancer early by measuring tissue density using electrodes. This device provides results in minutes without the need for specialized personnel or radiation exposure, making it accessible to underserved communities. Salva Health's business model involves distributing devices to healthcare centers and charging per screening, which eliminates the purchase burden for service providers. The company has achieved regulatory approval in Colombia and is expanding into other countries like Peru and Mexico. They are also exploring applications of their technology for other diseases such as osteoporosis and pulmonary cancer. Valentina emphasizes the importance of understanding investor incentives and aligning them with the company's mission, especially in the context of women's health and emerging markets.
Key Points:
- Salva Health's Julieta device offers early breast cancer detection without radiation or specialized personnel, making it accessible for rural areas.
- The device measures tissue density changes and provides results in minutes, facilitating early intervention.
- Salva Health's business model charges per screening, reducing upfront costs for healthcare providers.
- The company has regulatory approval in Colombia and is expanding to other countries, aiming for global reach.
- Valentina Aguodelloo stresses aligning with investors who understand the mission, particularly in women's health and emerging markets.
Details:
1. 🎙️ Affinity CRM Sponsorship and Podcast Introduction
1.1. Affinity CRM Sponsorship
1.2. Podcast Overview
2. 💡 Exploring Salva Health: Mission and Innovations with Valentina Aguadelloo
2.1. Salva Health Mission
2.2. Technological Innovations - Julieta Device
3. 🔍 Inside Julieta: A Revolutionary Breast Cancer Detection Device
- Julieta's software currently achieves a precision of 82%, with sensitivity rates at 81% and 84%.
- The company is focused on improving these metrics further to approach 100%, highlighting a commitment to continuous technical advancement.
- Julieta has undergone a series of clinical trials aimed at refining its precision and reliability, demonstrating proactive engagement in rigorous testing processes.
- The device received approval for medical device manufacturing and commercialization in Colombia, including achieving an FDA-equivalent approval, indicating a significant milestone in regulatory compliance.
- Julieta is actively conducting real-world trial testing by partnering with healthcare providers and insurance companies to validate the device's effectiveness in rural areas, emphasizing strategic partnerships to enhance device reach and applicability.
- Current revenue from these activities is symbolic as the focus is on validating the device's effectiveness rather than on generating income, reflecting a strategic prioritization of long-term success over immediate financial gains.
4. 🌟 Founding Journey and Overcoming Challenges in Women's Health
- Over 90% survival rate for early-detected breast cancer contrasts sharply with a 30% rate for late-stage detection, which is prevalent in underserved areas like Colombia.
- Founders reframed the lack of early diagnosis access from a medical issue to an entrepreneurial challenge, prompting innovative solutions.
- Securing funding for women's health initiatives was difficult; founders leveraged partnerships with major Latin American insurance companies and entered equity-free competitions to mitigate this.
- Investment was predominantly sourced from family offices and impact investors, focusing on social impact rather than financial return.
- Challenges in funding were compounded by the focus on women's health, emerging markets, and the presence of a female founder, necessitating unique strategic approaches.
5. 💼 Securing Funding: Strategies for Female-Led Startups in Emerging Markets
- Identify and target ideal investors by understanding their incentives and goals, focusing on those aligned with your startup's mission.
- Focus on investors in Latin America or Asia, especially those familiar with challenges faced by female-led startups and those focusing on healthcare.
- Conduct due diligence on potential investors just as they do on startups, ensuring alignment of goals and values.
- Consider non-equity financing options like grants and competitions to avoid the high cost of equity funding.
- Plan funding rounds early, ideally starting a year before funds are needed to ensure better negotiation terms.
- Recognize that fundraising can take up to 50% of a founder's time and be patient with the process.
- Examine successful case studies of female-led startups that secured funding, such as Company X in Latin America, which leveraged local networks and grant competitions to raise $500,000.
- Research specific grants and competitions tailored for female entrepreneurs, like the Cartier Women's Initiative, which provides up to $100,000 in funding.
- Develop a detailed due diligence checklist to evaluate investor alignment, including past investments, success stories, and feedback from other founders.
6. 🚀 Scaling Salva Health: Expansion and Future Prospects
6.1. Hardware Scalability and Production
6.2. Distribution and Partnerships
7. 🏆 TechCrunch Disrupt Victory: Impact and Reflections
7.1. Commercial Growth Plans
7.2. Regulatory Approval Process
7.3. Technology Expansion
7.4. Impact of TechCrunch Disrupt Victory
8. 👋 Final Thoughts and Listener Engagement
- Belief in the mission and purpose is crucial for startups to succeed, especially when anticipating questions and challenges.
- The initial challenge for startups is to confidently participate and engage, as demonstrated by Salva Health's successful pitch and delivery.
- Listeners interested in startup competition insights can view Salva Health's video linked in the show notes.
- For networking and further engagement, Salva Health can be found on their website salvahalth.co, Instagram, and LinkedIn.
- The show encourages listener interaction and provides host contact information on platforms like X and Blue Sky.