I'm in the Health IT space but we took a different approach. Early on we realized most Health IT companies are really pharmaceuticals but they don't realize it.
What I mean by this is, you need to have the budget of a pharmaceutical to play in this space: 1 - you need to spend millions to win over consumers and 2 - you need to have an existing network of connections into doctor's offices to convince them of your solution. Big Pharmas have both of those. They have reps that constantly visit doctors or hospitals to engage them and they have a well spent marketing budget to build awareness for their product. Most startups can't do either of those.
Then there is the long cycles. We signed some global Big Pharma brand (can't disclose). They actually approach us and were very eager to work with us. But even with that, it took exactly 2 years before we were able to roll out our pilot partnership.
Basically you need to go into this knowing it'll take 3-4 years before you can show any traction.
Then there is the long cycles. We signed some global Big Pharma brand (can't disclose). They actually approach us and were very eager to work with us. But even with that, it took exactly 2 years before we were able to roll out our pilot partnership.
Basically you need to go into this knowing it'll take 3-4 years before you can show any traction.