Latest / Deep Tech Germany – AI, Robotics & Frontier Innovation by Startuprad.io™ / Healthcare AI in the Emergency Room: Inside Dianovi
Transcript
- WEBVTT 00:00:04.897 --> 00:00:12.737 Welcome to StartupRed.io, your podcast and YouTube blog covering the German 00:00:12.737 --> 00:00:17.657 startup scene with news, interviews and live events. 00:00:13.040 --> 00:00:19.600 Music. 00:00:20.297 --> 00:00:23.037 Hello and welcome everybody this is 00:00:23.037 --> 00:00:26.217 joe from startup rate.io your startup podcast and youtube 00:00:26.217 --> 00:00:29.557 blog bringing you an english world 00:00:29.557 --> 00:00:37.377 premiere together with elias from we just uh sorted this out dianovie here from 00:00:37.377 --> 00:00:41.897 lovely hessen and this interview is as always supported by hessen trade and 00:00:41.897 --> 00:00:48.637 invest more about them later elias glad to have you here thanks for having me As people know, 00:00:48.797 --> 00:00:51.917 your LinkedIn profile will be linked down here in the show notes in the blog. 00:00:52.377 --> 00:00:58.317 I've seen you worked with pretty well-known names like Arthur D. Little in consulting. 00:00:59.057 --> 00:01:04.397 You've been working with Bosch. But can you share a little bit about your background? 00:01:04.797 --> 00:01:10.077 What have you done? Introduce yourself just a little bit before founding the INOV. 00:01:10.517 --> 00:01:15.657 Yeah, sure. So as you already mentioned, I live in Hessen in Darmstadt, 00:01:15.837 --> 00:01:21.417 to be exact. I did my bachelor and then also my master here at TU Darmstadt. 00:01:21.757 --> 00:01:28.777 I studied industrial engineering with the focus already on innovation and entrepreneurship. 00:01:29.257 --> 00:01:34.037 And then when I've done my exchange semester in Finland, in Helsinki, 00:01:34.317 --> 00:01:38.797 I started to shift the focus more and more towards starting a company. 00:01:38.797 --> 00:01:44.097 But as you said before, during my studies, I also worked in consulting, 00:01:44.757 --> 00:01:52.997 tried to get an overview of a very different kind of industry to see what interests me most. 00:01:53.397 --> 00:01:57.337 And also tried to, let's say, more corporate world with Bosch, 00:01:57.477 --> 00:02:00.317 but also worked in a startup already. 00:02:01.277 --> 00:02:05.577 Quantico, you mentioned already. So, yeah, these were basically my professional 00:02:05.577 --> 00:02:12.157 career stations so far. A question about Alto University in Finland. 00:02:12.757 --> 00:02:16.977 I assume you, because you've been there from August to December, 00:02:17.317 --> 00:02:20.277 and I assume in December you had to wear pretty warm socks there, right? 00:02:20.852 --> 00:02:24.932 That's actually true, yeah. And I also didn't add that much light. 00:02:25.092 --> 00:02:26.112 That was the other thing. 00:02:26.752 --> 00:02:31.352 How good is your finish? Oh, that's a tough question. 00:02:31.632 --> 00:02:37.752 I think I tried maybe for three lessons or something, and then I basically gave 00:02:37.752 --> 00:02:40.552 up because it's a really hard language, to be honest. 00:02:41.012 --> 00:02:47.632 And I'm more of a numbers guy than a language guy, so I focused more on this part. 00:02:48.952 --> 00:02:52.052 Okay what inspired you to transition 00:02:52.052 --> 00:02:55.452 to transition from your previous roles at starting 00:02:55.452 --> 00:02:58.652 your own venture so we 00:02:58.652 --> 00:03:01.292 basically started the startup out of 00:03:01.292 --> 00:03:04.372 university so we did a lot of research in this 00:03:04.372 --> 00:03:07.792 field ai and medicine in general especially my 00:03:07.792 --> 00:03:10.732 my co-followers nils and nicholas and as we 00:03:10.732 --> 00:03:14.472 not only wanted to deliver like a theoretical value 00:03:14.472 --> 00:03:17.472 but also transfer it to the practical 00:03:17.472 --> 00:03:20.552 world we um yeah we said 00:03:20.552 --> 00:03:23.272 that we wanted to found a startup and we all know each other 00:03:23.272 --> 00:03:30.112 since a really young age so for me it was quite clear already during my or during 00:03:30.112 --> 00:03:35.612 the beginning of my master that we wanted to do this and even though i still 00:03:35.612 --> 00:03:40.552 went into these other fields like strategy consulting to gain experience that 00:03:40.552 --> 00:03:43.212 would then help me by with finding a startup. 00:03:44.024 --> 00:03:51.004 Did you have any pivotal experiences or like mentors that shaped your entrepreneurial journey? 00:03:52.964 --> 00:03:56.864 I wouldn't say that there's necessarily one 00:03:56.864 --> 00:04:00.104 person in particular but rather many people 00:04:00.104 --> 00:04:03.484 that kind of inspired me or whatever great sparing 00:04:03.484 --> 00:04:06.424 so starting in in finland 00:04:06.424 --> 00:04:09.464 when i had teachers that yeah brought me 00:04:09.464 --> 00:04:12.904 closer to this entrepreneurship area and 00:04:12.904 --> 00:04:16.244 but then also people i've worked with especially in 00:04:16.244 --> 00:04:19.804 consulting there were a lot of people that yeah 00:04:19.804 --> 00:04:22.844 that taught me a lot when it comes to soft skills but 00:04:22.844 --> 00:04:26.604 also finding one's own way um and 00:04:26.604 --> 00:04:29.724 also then that's always super valuable other startup 00:04:29.724 --> 00:04:33.024 founders they most likely will you 00:04:33.024 --> 00:04:36.544 know yeah most likely you will find someone that had the same problem already 00:04:36.544 --> 00:04:44.724 but it's not one specific person for me i see i see um what unique skills or 00:04:44.724 --> 00:04:51.084 perspectives from your past have proven most valuable in building Genovi? 00:04:52.644 --> 00:04:56.804 Well, I'd say it definitely helps if you don't mind working a lot. 00:04:58.364 --> 00:05:03.544 Joking. I mean, this is definitely a thing, but I would say it will come from 00:05:03.544 --> 00:05:05.784 loan if you're passionate about something. 00:05:06.704 --> 00:05:10.324 But other than this, I think acquiring 00:05:10.324 --> 00:05:13.764 a structured way of working is super 00:05:13.764 --> 00:05:16.564 important as you have so many different topics coming to 00:05:16.564 --> 00:05:20.064 your table and maintaining an overview not 00:05:20.064 --> 00:05:24.784 getting overwhelmed sometimes and then prioritizing i would say this is key 00:05:24.784 --> 00:05:29.684 and um there's something where a structured way of working definitely helps 00:05:29.684 --> 00:05:34.964 and where my time and consulting again helped a lot i'd say because this is 00:05:34.964 --> 00:05:39.584 when i started to to yeah kind of get to know this way of working. 00:05:40.270 --> 00:05:49.030 Because in general I did many things in parallel, so that was kind of necessary 00:05:49.030 --> 00:05:50.470 then and it still helps me. 00:05:51.270 --> 00:05:58.810 And other than this, maybe naivety, because otherwise I don't think we would 00:05:58.810 --> 00:06:03.290 be there where we are right now if we would have approached everything too rationally, to be honest. 00:06:03.290 --> 00:06:06.270 So many people say it's 00:06:06.270 --> 00:06:09.690 it's resilience that is super important and i agree but 00:06:09.690 --> 00:06:12.610 for me resilience is kind of 00:06:12.610 --> 00:06:15.230 positively framed and i 00:06:15.230 --> 00:06:20.550 think there's also this part of naivety that is rather a thing that you can't 00:06:20.550 --> 00:06:25.290 really control but still helps a lot if you if you have this kind of character 00:06:25.290 --> 00:06:31.750 I actually do believe it's one of the few essential pillars of entrepreneurship 00:06:31.750 --> 00:06:34.970 to be really, really structured. 00:06:35.730 --> 00:06:41.610 That helps you out a lot because you get thrown things to your head like from 00:06:41.610 --> 00:06:46.530 your competition, most of the time from your clients, from your investors, 00:06:46.770 --> 00:06:49.510 from the authorities, maybe tax or other regulations. 00:06:49.510 --> 00:06:55.150 And you always have to put it into a structured way to see what are the priorities, 00:06:55.390 --> 00:06:56.950 how can you work through it. 00:06:57.310 --> 00:07:03.210 Plus, you're also, for me personally, not only a to-do list did the trick, 00:07:03.350 --> 00:07:13.570 but when I kind of transponded the to-do list to times assigned to do my to-dos on a daily, 00:07:13.750 --> 00:07:16.410 weekly, and monthly basis on my calendar. 00:07:16.410 --> 00:07:23.130 That was like the most important step for me to get StartUpRate.io on the ground. 00:07:23.410 --> 00:07:28.390 Yeah, I definitely agree. And I think you can perfectly relate to this as you 00:07:28.390 --> 00:07:32.290 have different projects going on. So yeah, 100% agree. 00:07:34.229 --> 00:07:37.089 Let's talk about your startup, Adir. 00:07:37.929 --> 00:07:43.909 What problem are you trying to solve when you started Dianovi and how did you 00:07:43.909 --> 00:07:46.789 identify this opportunity? Yeah. 00:07:47.569 --> 00:07:52.489 So the problem we're addressing is basically that in the emergency room, 00:07:52.569 --> 00:07:57.009 so that's where we operate or our software operates in the emergency room that 00:07:57.009 --> 00:07:59.529 you have basically two worlds that collide. 00:07:59.529 --> 00:08:05.009 So on the one side, you have really young, inexperienced junior doctors that 00:08:05.009 --> 00:08:10.209 have to work with complex cases from all kinds of backgrounds and disciplines. 00:08:10.569 --> 00:08:16.489 And in this stressful setting of the emergency room, that means it really creates 00:08:16.489 --> 00:08:19.889 a fertile ground for mistakes, so to say. 00:08:20.109 --> 00:08:25.329 And then in numbers, that means millions of error diagnosis and false treatments 00:08:25.329 --> 00:08:29.429 that we have in Germany alone every year. And then, of course, 00:08:29.549 --> 00:08:34.769 this leads also to high costs for the hospitals, but also for the healthcare system in general. 00:08:35.749 --> 00:08:41.849 And here we're talking about billions in costs. And as already touched before, 00:08:42.109 --> 00:08:47.669 the basic idea of delivering value to the healthcare system by utilizing the 00:08:47.669 --> 00:08:49.269 technological knowledge we had, 00:08:49.749 --> 00:08:54.369 that came up during university or during our studies. 00:08:54.369 --> 00:08:59.089 And then we started talking to many stakeholders, so hospitals, 00:08:59.569 --> 00:09:01.249 physicians, insurance companies. 00:09:01.489 --> 00:09:03.989 So the idea got more and more concrete. 00:09:04.669 --> 00:09:10.749 And from beginning on, actually, we worked super close with hospitals and they 00:09:10.749 --> 00:09:15.369 helped a lot with the product development and also already in the ideation phase. 00:09:15.589 --> 00:09:18.729 And that's how Dianovey basically was created then. 00:09:19.403 --> 00:09:26.743 Also, in an emergency room, talking here about an EMT with several years of 00:09:26.743 --> 00:09:32.743 experience, you always have the problem that you have incomplete data. 00:09:32.743 --> 00:09:39.723 So you don't know from the blood type of the patient to their story, 00:09:40.003 --> 00:09:45.943 medications, allergies, whatever important stuff that you don't have. 00:09:45.943 --> 00:09:52.543 And as you said, even if the doctor is very experienced, they cannot foresee everything. 00:09:52.703 --> 00:09:56.563 So there's a lot of information you need at very short notice there. 00:09:57.563 --> 00:10:02.103 Was this your original idea or did it evolve over time? 00:10:03.023 --> 00:10:06.163 That's actually a good question. It evolved. It definitely evolved. 00:10:06.403 --> 00:10:10.243 So we started more and that's also why we changed our name at some point. 00:10:10.463 --> 00:10:13.863 So we started more as a symptom checker basically. 00:10:13.863 --> 00:10:22.183 So we tried to prevent people going to the emergency room when they had, let's say, 00:10:22.343 --> 00:10:26.403 minor issues, because that's a big thing as well, that we have overcrowding 00:10:26.403 --> 00:10:30.983 in the emergency rooms and there would be also alternative treatment options. 00:10:31.203 --> 00:10:34.243 And we first focused more on this kind of problem. 00:10:34.923 --> 00:10:40.823 And then out of several reasons, we pivoted and focused more on the professional side. 00:10:41.043 --> 00:10:49.643 So really helping the physician and providing them with support during their daily work. 00:10:50.003 --> 00:10:57.203 And this was basically how we evolved from more patient-centric software to 00:10:57.203 --> 00:10:59.643 a more physician-centric software, I'd say. 00:11:00.703 --> 00:11:06.243 Ah, I see. I see. Can you like wrap up in like one sentence? 00:11:06.543 --> 00:11:11.423 What's your final goal, your mission, your vision for Yanovi? 00:11:11.903 --> 00:11:16.223 And by the way, how did you come up with the name? It sounds like more like 00:11:16.223 --> 00:11:19.323 an Italian food brand. To me at least, sorry. 00:11:20.503 --> 00:11:22.563 That's funny. I never heard this. 00:11:24.883 --> 00:11:29.903 I see it. Now, actually, we changed the name because of a lot of feedback from 00:11:29.903 --> 00:11:36.323 customers and other people because they were kind of confused when we still had the name MySymto. 00:11:36.523 --> 00:11:41.523 So this was a name before, which kind of obviously relates to a symptom checker. 00:11:41.803 --> 00:11:46.343 They started asking, you're not a symptom checker, so why would you use that name? 00:11:46.483 --> 00:11:51.843 And then we decided during the incorporation that we will change the name to 00:11:51.843 --> 00:11:57.563 Dianove, which is basically a composition of the word diagnosis and the word novum. 00:11:57.563 --> 00:12:03.743 And basically reflects our vision of enabling the best medical care possible 00:12:03.743 --> 00:12:09.943 by utilizing technological brokers we see, especially with AI, 00:12:10.183 --> 00:12:12.303 which is core for our software. 00:12:12.303 --> 00:12:19.623 And as I said, we're trying to enable physicians to really deliver the best 00:12:19.623 --> 00:12:26.083 treatment possible by giving them personalized decision support and the power 00:12:26.083 --> 00:12:29.983 of the modern technology data analytics, basically. Mm-hmm. 00:12:31.080 --> 00:12:35.480 I see. Let me take a little second to thank our sponsor. 00:12:35.880 --> 00:12:40.040 Our enabler today is Hessen Trade & Invest and the Enterprise Europe Network Hessen. 00:12:40.360 --> 00:12:45.600 This recording was made possible by HTAI and the Enterprise Europe Network Hessen. 00:12:45.920 --> 00:12:50.560 These organizations have made tremendous contribution to helping startup businesses 00:12:50.560 --> 00:12:57.120 succeed and thrive, providing a range of services from helping to find grants 00:12:57.120 --> 00:12:58.320 to ongoing partnerships. 00:12:58.320 --> 00:13:03.080 By taking advantage of these resources, startup companies can network and develop 00:13:03.080 --> 00:13:06.800 innovative strategies for success on the international stage. 00:13:07.000 --> 00:13:12.260 The dedicated support of HTII and the Enterprise Europe Network Hessen is paramount 00:13:12.260 --> 00:13:16.260 in providing startup businesses with the tools for lasting success. 00:13:16.460 --> 00:13:23.180 You can learn more at htii.de, EEN Hessen, and on our sub-podcast together with 00:13:23.180 --> 00:13:25.080 them, Tech Startups Germany. 00:13:26.500 --> 00:13:34.640 That out of the way, let's talk about Dinovi, about the startup itself. 00:13:37.318 --> 00:13:47.198 Can you get a little bit more specific how your tool is used, where it is today? 00:13:47.398 --> 00:13:51.878 And then we're talking a little bit about KPIs, clients, use piece and so on and so forth. 00:13:52.838 --> 00:13:59.998 Yeah. So you basically can think of Dinovi as a digital assistant to the physician 00:13:59.998 --> 00:14:01.678 working in the emergency room. 00:14:01.678 --> 00:14:09.118 So it's a software running on their whatever device they would have and basically 00:14:09.118 --> 00:14:15.478 accompanies them throughout the whole process where the patient is in the emergency room. 00:14:15.578 --> 00:14:19.858 So it helps them to make the right decisions from a medical perspective. 00:14:19.858 --> 00:14:23.358 So for example, what is the most likely diagnose? 00:14:23.718 --> 00:14:28.538 Which treatments should I do as a doctor to find out or to figure out which 00:14:28.538 --> 00:14:35.638 diagnose is the most likely one? and then also how to pursue with the patient. 00:14:35.918 --> 00:14:38.598 And then, so this is basically a medical side and 00:14:38.598 --> 00:14:42.178 then also from an economic perspective as 00:14:42.178 --> 00:14:48.418 hospitals to have this reimbursement system in the emergency room and we help 00:14:48.418 --> 00:14:53.898 the hospital to get the most out of this reimbursement as well because this 00:14:53.898 --> 00:15:00.278 was a thing that basically a lot of decision support tools neglect when providing decision support. 00:15:00.458 --> 00:15:05.718 It's mostly medical and we combine it because this makes it basically a no-brainer 00:15:05.718 --> 00:15:09.638 for hospitals to adapt the software also from an economic perspective. 00:15:10.458 --> 00:15:18.938 I see plus a very likely limitation of potential liabilities because otherwise 00:15:18.938 --> 00:15:23.318 the insurance companies would not back it from my understanding. 00:15:23.658 --> 00:15:29.718 I see a CC, smart thing. We're talking on Startup Radio a lot about success. 00:15:30.638 --> 00:15:37.758 What KPI, what measures do you use to define success for you as a startup? 00:15:38.813 --> 00:15:42.113 Yeah as i'd say that we are still quite 00:15:42.113 --> 00:15:45.253 in an early phase so we we finished our pilot projects 00:15:45.253 --> 00:15:48.133 last year and um so two months 00:15:48.133 --> 00:15:50.893 ago basically and we'll we'll launch the 00:15:50.893 --> 00:15:54.113 software in a couple of weeks um from a commercial point 00:15:54.113 --> 00:15:57.273 of view uh it's it's all about the customer so 00:15:57.273 --> 00:16:02.273 we have a we have a great sales pipeline and now we're converting them one by 00:16:02.273 --> 00:16:07.133 one and also got the first written agreements which basically is the main kpi 00:16:07.133 --> 00:16:13.053 for us right now and then we also looked at the sales cycles don't get too long 00:16:13.053 --> 00:16:16.233 because this is something that is sometimes kind of challenging, 00:16:16.793 --> 00:16:23.133 with hospitals so we try to reduce these these sales cycles to a minimum and 00:16:23.133 --> 00:16:29.393 yeah and then of course we have a lot of software development kpis to ensure 00:16:29.393 --> 00:16:33.333 stable operations and safe development which is quite important in our field. 00:16:34.433 --> 00:16:40.313 Yeah, I would assume so. By the way, when you talked about on whatever device 00:16:40.313 --> 00:16:46.093 the physician uses, what came to my mind right from the start was something like a tablet. 00:16:46.373 --> 00:16:52.473 Is this the primary device they are using your software on? 00:16:53.353 --> 00:17:00.333 Yes and no. It depends a bit on the hospital. So some are super great in digitization. 00:17:00.333 --> 00:17:03.993 Others lag behind really really 00:17:03.993 --> 00:17:07.653 far so you will find every different setup 00:17:07.653 --> 00:17:10.913 possible but most of the time it's it's 00:17:10.913 --> 00:17:14.213 a computer um in the room and then 00:17:14.213 --> 00:17:17.373 you also have the more digitized ones where they use tablets 00:17:17.373 --> 00:17:20.213 but actually for us or for the software it 00:17:20.213 --> 00:17:25.273 doesn't matter we would run on all these devices i see 00:17:25.273 --> 00:17:28.713 and and then could you also like share uh 00:17:28.713 --> 00:17:31.653 it's is it seamless that the physician could 00:17:31.653 --> 00:17:34.373 access from the computer in the emergency room and then 00:17:34.373 --> 00:17:37.233 later um when the patient is uh when. 00:17:37.233 --> 00:17:40.133 The patient is in the bed visit the bed with the tablet 00:17:40.133 --> 00:17:43.133 does it work like that yeah exactly and that's that's 00:17:43.133 --> 00:17:46.333 a really good and important question for us because this 00:17:46.333 --> 00:17:49.513 seamless integration also the integration with other 00:17:49.513 --> 00:17:53.053 software solutions already in the hospital it's super 00:17:53.053 --> 00:17:55.953 important for the actual adoption of the of 00:17:55.953 --> 00:17:59.173 the software yes has 00:17:59.173 --> 00:18:02.253 to be um you you said last year 00:18:02.253 --> 00:18:05.213 we're talking uh late 2024 if i'm 00:18:05.213 --> 00:18:09.073 not wrong you achieved the milestone finishing the 00:18:09.073 --> 00:18:12.173 pilot projects as you already said you already 00:18:12.173 --> 00:18:15.833 signed how many contracts so right 00:18:15.833 --> 00:18:19.333 now we have three written agreements and 00:18:19.333 --> 00:18:25.613 the fourth is coming right now so yeah as I said day by day we try to onboard 00:18:25.613 --> 00:18:32.853 more hospitals so the pipeline gets gets bigger and bigger and we have to start 00:18:32.853 --> 00:18:36.933 like getting them or converting them into actually paying customers. 00:18:37.787 --> 00:18:45.067 I see. That's pretty good. I think most of my question now we already discussed. 00:18:45.327 --> 00:18:52.147 So your primary customer are the hospitals because they can increase revenue 00:18:52.147 --> 00:18:58.247 and increase safety with your software for the emergency room. 00:18:58.247 --> 00:19:06.407 I was wondering, your primary clients are the hospitals or are you in closer 00:19:06.407 --> 00:19:14.027 with insurance companies that then volunteer the hospitals to use your software? 00:19:17.527 --> 00:19:23.207 It's definitely the hospitals, but insurance companies will maybe get more and 00:19:23.207 --> 00:19:24.587 more important in the future. 00:19:24.587 --> 00:19:30.067 But usually in the healthcare system, it makes sense to first have a couple 00:19:30.067 --> 00:19:32.707 of customers, in our case hospitals, 00:19:33.407 --> 00:19:37.487 where you can show what the solution is capable of and then, 00:19:37.607 --> 00:19:39.587 again, approach the insurance companies. 00:19:40.247 --> 00:19:44.667 And then we also have another important stakeholder for us, which are these 00:19:44.667 --> 00:19:48.987 other software providers that already have their solutions in the hospitals. 00:19:48.987 --> 00:19:54.247 And when we partner with them, because we need this from a technical perspective 00:19:54.247 --> 00:19:59.127 anyways, then we also get access to their existing hospital network. 00:19:59.127 --> 00:20:02.027 So those are important partners for us as well. 00:20:02.976 --> 00:20:07.296 I see, I see. So very interesting construction there. 00:20:08.036 --> 00:20:11.116 You kind of hinted already at it. 00:20:11.196 --> 00:20:15.476 So there are other emergency room softwares out there. 00:20:15.536 --> 00:20:21.436 But my understanding is your USP right now that is working is basically that 00:20:21.436 --> 00:20:27.216 you tell the hospitals and insurance companies, we're not only here to limit 00:20:27.216 --> 00:20:30.396 your liability to get better treatment for the patients. 00:20:30.396 --> 00:20:37.136 We are also here to help you maximize revenue on this, like build all the stuff you're actually doing. 00:20:37.356 --> 00:20:42.376 We may tell the audience out there that there has been a dying of hospitals 00:20:42.376 --> 00:20:45.536 here in Germany due to insufficient revenue. 00:20:45.536 --> 00:20:49.796 A lot of insolvencies, including a hospital here not far from me. 00:20:49.796 --> 00:20:56.116 They keep operating, but the funding of hospitals is right now a pretty hot topic in Germany, 00:20:56.376 --> 00:21:02.016 especially like the smaller ones in the smaller places where you would need 00:21:02.016 --> 00:21:06.936 to try for quite some time until you get to a bigger. 00:21:07.416 --> 00:21:08.876 Better funded hospital. 00:21:08.876 --> 00:21:11.216 Yeah, that's definitely correct. 00:21:11.516 --> 00:21:17.076 And that's exactly why we're doing this to support from medical and economic 00:21:17.076 --> 00:21:22.276 perspective, because, of course, every hospital would want to improve their 00:21:22.276 --> 00:21:25.636 medical performance and their treatments for the patient. 00:21:25.636 --> 00:21:29.676 But at some point they are limited because of their financial resources. 00:21:29.856 --> 00:21:35.116 And as you said, if they have an incentive to buy your solution also from an 00:21:35.116 --> 00:21:38.256 economic perspective, then it gets a no-brainer. 00:21:38.416 --> 00:21:42.376 You increase quality and you increase revenue. Why wouldn't you do it? 00:21:42.596 --> 00:21:45.456 So that's exactly what we're targeting at. 00:21:46.096 --> 00:21:52.276 In terms of the apprechnung system, so the billing system of the hospital, 00:21:52.276 --> 00:21:58.036 I've heard it can be quite a bit complicated and arcane, is that true? 00:21:58.216 --> 00:22:01.696 And how did you get through all the stuff there? 00:22:02.016 --> 00:22:08.836 Yeah, that's a huge thing and it's really specific and also kind of strange 00:22:08.836 --> 00:22:14.316 and you can talk to many, many people that work inside this area for quite some 00:22:14.316 --> 00:22:16.696 time and you will still find, 00:22:17.677 --> 00:22:22.437 Parts where not everybody knows what's happening, actually. 00:22:22.577 --> 00:22:26.577 So it's really complicated. And it also took us quite a while to understand 00:22:26.577 --> 00:22:28.497 how this basically works. 00:22:28.717 --> 00:22:32.097 And we did a lot of talking with different people. 00:22:32.237 --> 00:22:35.497 So as I already said in the beginning, it helps a lot if you talk to different 00:22:35.497 --> 00:22:38.917 stakeholders, meaning hospitals, meaning insurance companies, 00:22:39.197 --> 00:22:44.937 meaning the reimbursement companies, meaning people that consult these companies and hospitals. 00:22:44.937 --> 00:22:51.737 So to get different viewpoints on this, to understand these reimbursement processes. 00:22:52.697 --> 00:22:54.917 And that's basically how we did 00:22:54.917 --> 00:22:59.877 it. You can, of course, also look out for webinars and stuff like this. 00:22:59.997 --> 00:23:04.617 We still do it because there's also a lot of changes going on and politics tries 00:23:04.617 --> 00:23:07.897 to change quite some things also. 00:23:08.197 --> 00:23:12.137 So it's always important to stay up to date on this topic as well. 00:23:13.137 --> 00:23:18.637 Where we may also add for our audience that we're currently in an election cycle, 00:23:18.817 --> 00:23:22.037 less than a month from today, there will be new elections. 00:23:22.037 --> 00:23:26.277 There will be, as it looks right now, a new government. There will be new policies, 00:23:26.277 --> 00:23:29.757 which may or may not hit you in 2025, 00:23:30.077 --> 00:23:38.317 but 26, 27 for sure, because there'll be some areas where they need to fix the healthcare system. 00:23:38.317 --> 00:23:45.797 Are you actually kind of actively looking at the policies the different parties have. 00:23:47.015 --> 00:23:51.455 Yeah, I mean, definitely also from a private perspective, I do. 00:23:51.695 --> 00:23:57.135 But yeah, then also when it comes to the company, of course, it's interesting. 00:23:57.555 --> 00:24:05.955 But it's also, of course, they have the ideas of how to do the healthcare system 00:24:05.955 --> 00:24:07.735 or maybe how to restructure it. 00:24:07.875 --> 00:24:12.835 But in the end, we will have to see what really happens. And it will always take such a long time. 00:24:12.835 --> 00:24:17.515 So we don't really try to estimate what will happen. and already adapt, 00:24:17.815 --> 00:24:23.235 we will do what we're doing right now and focus on where we're strong at, 00:24:23.335 --> 00:24:25.295 and then we'll see what changes. 00:24:25.595 --> 00:24:31.055 We definitely have our eyes on this, so we don't get overwhelmed by it or something, 00:24:31.295 --> 00:24:37.115 but it will, and I'm pretty sure about this, it will take quite some time until 00:24:37.115 --> 00:24:39.395 changes will be implemented. 00:24:39.995 --> 00:24:43.375 But, yeah, we're cautious because it's not to neglect. 00:24:43.375 --> 00:24:46.395 Mm-hmm um for everybody 00:24:46.395 --> 00:24:49.995 who's listening to this on the day of publication uh 00:24:49.995 --> 00:24:53.095 by the way go out and vote and also 00:24:53.095 --> 00:24:56.475 for all the people who forgot it tomorrow is valentine's 00:24:56.475 --> 00:25:03.915 day still time to get some flowers so i have to get this out um even though 00:25:03.915 --> 00:25:09.415 um one third of our audience is women i'm not sure what the usual uh present 00:25:09.415 --> 00:25:14.855 for women is on valentine's day is supposed to be but that's a completely different topic. 00:25:15.855 --> 00:25:19.995 Let's do a little bit of an ad break. And then when we come back, 00:25:20.175 --> 00:25:24.755 we'll talk about the outlook, funding growth, and talent perspective. 00:25:33.515 --> 00:25:37.835 Welcome back to our interview with Elias from Dinovi. 00:25:38.495 --> 00:25:41.995 We are here in an interview supported by Heson Trade & Invest. 00:25:41.995 --> 00:25:46.515 And we are in the last third of our interview here. 00:25:46.675 --> 00:25:51.675 I'm talking now a little bit outlook with Elias, the co-founder of Dinov. 00:25:54.451 --> 00:25:58.911 Always, there is a question on venture capital when we are at this stage. 00:25:59.211 --> 00:26:03.111 Are you currently raising or planning to raise funding? 00:26:03.411 --> 00:26:07.411 And what's your primary focus for the investment? 00:26:08.291 --> 00:26:13.871 So right now, we just closed a convertible loan with a couple of investors. 00:26:14.171 --> 00:26:20.811 So that's what we've done recently. But we're definitely looking to raise soon 00:26:20.811 --> 00:26:26.111 again as we have this growth. and we need to get this funded somehow. 00:26:26.651 --> 00:26:31.451 So we're always open to have these conversations, build up relationships, 00:26:31.971 --> 00:26:35.231 and then in a couple of months, race the next round. 00:26:36.831 --> 00:26:43.951 You're talking about a couple of months. What are the expectations for the Inovie 00:26:43.951 --> 00:26:47.031 in the next 12 to 18 months? Yeah. 00:26:48.071 --> 00:26:52.851 So basically, as we said, we're entering the market right now. 00:26:53.231 --> 00:26:58.511 From a commercial perspective so establish ourselves in the emergency room the 00:26:58.511 --> 00:27:04.451 emergency room won't be the end of the road for us that's for sure um but i 00:27:04.451 --> 00:27:09.631 think for the next 12 months it's it's fair to say that we want to ensure successful 00:27:09.631 --> 00:27:11.811 utilization then also of the software, 00:27:12.351 --> 00:27:21.871 and then see if if our thesis hold ground and then as i said we order the emergency room won't be the 00:27:21.991 --> 00:27:25.691 end of the road for us so we will ship more features and look 00:27:25.691 --> 00:27:28.951 to also expand maybe to the outpatient sector 00:27:28.951 --> 00:27:31.971 are you 00:27:31.971 --> 00:27:35.211 actively hiring or uh 00:27:35.211 --> 00:27:38.331 you you're planning to hire i i mean you just closed 00:27:38.331 --> 00:27:41.731 the convertible note you did some fight tracing uh congratulations by 00:27:41.731 --> 00:27:45.291 the way can you give us a rough idea of how much you raised uh 00:27:45.291 --> 00:27:48.211 yeah i can't name the exact number because it's also not uh 00:27:48.211 --> 00:27:51.171 not like all over yet but uh 00:27:51.171 --> 00:27:58.691 we will be uh below the 500 000 uh somewhere there and yes with this money we 00:27:58.691 --> 00:28:04.331 we are actively hiring right now and this will also uh not change probably for 00:28:04.331 --> 00:28:10.131 the next couple of months as we need to get the personal resources for. 00:28:11.097 --> 00:28:16.717 Watch out buzzword scale the software and scale the the company so uh yeah for 00:28:16.717 --> 00:28:23.897 the next month you can expect us to hire a couple of more people especially from a technical part, 00:28:24.857 --> 00:28:29.877 the software developers we're growing the team now they're especially in this 00:28:29.877 --> 00:28:34.997 area for everybody who'd like to learn more we'll also link the career website 00:28:34.997 --> 00:28:43.977 of you guys down here in the So you already did some startup buzzword bingo. We checked the scaling. 00:28:44.597 --> 00:28:48.717 How do you plan to scale and kind of adapt? 00:28:48.937 --> 00:28:52.837 We just talked about the upcoming election, the changes of policies. 00:28:53.077 --> 00:28:57.537 How do you keep track of that and how you're looking to manage all of that? 00:28:58.217 --> 00:29:05.537 Yeah. So for now, and maybe the important thing for us is the technological perspective as well. 00:29:05.537 --> 00:29:08.517 There's a lot of happening there as well you can read 00:29:08.517 --> 00:29:12.017 the new ai news basically every day or twice 00:29:12.017 --> 00:29:14.877 a day and so we will 00:29:14.877 --> 00:29:17.997 still try to continuously improve our 00:29:17.997 --> 00:29:22.177 models utilize the newest advancement and see 00:29:22.177 --> 00:29:25.077 that we can utilize also the data that are 00:29:25.077 --> 00:29:28.337 generated then through our software and then 00:29:28.337 --> 00:29:31.677 as you mentioned also the the more 00:29:31.677 --> 00:29:34.757 policies that come and 00:29:34.757 --> 00:29:37.677 the regulatory field which is super important in 00:29:37.677 --> 00:29:44.037 healthcare and also there we will stay stay ahead of these changes there and 00:29:44.037 --> 00:29:48.657 then yeah of course the the customers put them in the center they are the most 00:29:48.657 --> 00:29:54.157 important ones for us see how the hospitals and the the processes change because 00:29:54.157 --> 00:29:56.617 there will be changes also, again, 00:29:56.977 --> 00:30:01.677 due to the government, and then see how we can best support physicians working 00:30:01.677 --> 00:30:03.397 there under these circumstances. 00:30:04.687 --> 00:30:13.067 I see. So you already hinted at incorporating AI into your tool. 00:30:13.227 --> 00:30:16.707 I hope you've seen the episode we had on the AI Act here. 00:30:18.067 --> 00:30:22.467 I have two final questions. So the first final question is, what is your long-term 00:30:22.467 --> 00:30:26.227 vision for the startup and what impact do you hope to make on the industry? 00:30:28.107 --> 00:30:34.267 So, yeah, as I said, the end of the journey isn't there with the emergency room. 00:30:34.267 --> 00:30:36.167 We will explore further areas. 00:30:36.507 --> 00:30:41.707 So long term vision really means that we provide this decision support not only 00:30:41.707 --> 00:30:46.807 for physicians in the emergency room, but then also for physicians in the outpatient 00:30:46.807 --> 00:30:50.187 area and also in other parts of the hospital. 00:30:50.187 --> 00:30:58.967 So the software basically provides a comprehensive solution that transforms 00:30:58.967 --> 00:31:02.987 the complex healthcare data into concrete, actionable insights. 00:31:03.147 --> 00:31:06.827 And that's something you don't only need in the emergency room, 00:31:06.887 --> 00:31:08.427 but everywhere in healthcare. 00:31:08.427 --> 00:31:15.347 So the focus is on really gaining a deep understanding of patient care and then 00:31:15.347 --> 00:31:21.287 pave the way for personalized medicine because that's what we are actually doing. 00:31:21.487 --> 00:31:26.527 And that's then basically also the impact. So, of course, we want to see less 00:31:26.527 --> 00:31:31.747 mistakes made and then also better access to health care. 00:31:31.747 --> 00:31:37.747 As you mentioned already, hospitals are shutting down, especially on the more rural side. 00:31:37.887 --> 00:31:43.267 And we want to still have patients having a great access to health care, 00:31:43.427 --> 00:31:48.447 which also comes with digital solutions, we guess at least. 00:31:49.627 --> 00:31:57.107 Mm-hmm, mm-hmm, I see. By the way, buzzword check for actionable insights. 00:31:58.667 --> 00:32:04.447 And the final, final question, because this is from HessenTradenInvest sponsored. 00:32:06.147 --> 00:32:09.527 You have now the unique opportunity to address the 00:32:09.527 --> 00:32:12.367 decision maker in the States and 00:32:12.367 --> 00:32:15.987 ask for improvement uh 00:32:15.987 --> 00:32:19.167 give some praise and something you always 00:32:19.167 --> 00:32:22.027 want to address to them yeah so if 00:32:22.027 --> 00:32:25.167 i would have one wish as well then this 00:32:25.167 --> 00:32:29.907 would definitely go to the regulatory side 00:32:29.907 --> 00:32:34.527 because i i understand and everybody understands that it's an important topic 00:32:34.527 --> 00:32:38.967 especially when you operate with sensible data and everything but sometimes 00:32:38.967 --> 00:32:44.827 it's it's really annoying how long processes take and it's especially for startups 00:32:44.827 --> 00:32:49.827 that the advantage is that they can operate quite fast. 00:32:50.027 --> 00:32:57.447 And then you have these super long regulatory cycles and processes that kind of slow you down. 00:32:57.447 --> 00:33:03.807 So this is not optimal. And I know it's hard, but maybe there could be a bit 00:33:03.807 --> 00:33:09.247 of an improvement, which then would also come from a more political side. 00:33:09.827 --> 00:33:13.167 But we also have to definitely thank them a lot. 00:33:13.627 --> 00:33:16.547 I hasn't traded invest and we we 00:33:16.547 --> 00:33:19.347 got a great network here in in Hessen 00:33:19.347 --> 00:33:22.127 we always have great support when it 00:33:22.127 --> 00:33:25.167 comes to any topics we can ask for contacts 00:33:25.167 --> 00:33:27.887 might be from a regulatory point might be 00:33:27.887 --> 00:33:31.747 from a financing point it might be from the 00:33:31.747 --> 00:33:35.527 incorporation we got a lot of help there as well so and there's 00:33:35.527 --> 00:33:40.407 definitely a strong network and strong support for startups here in Hessen great 00:33:40.407 --> 00:33:45.587 I also want to slide in at the very end I was actually sitting in the audience 00:33:45.587 --> 00:33:53.487 when at the federal government digital gipfel late last year you won a founding award for startups. 00:33:55.047 --> 00:33:59.987 For handed out here by the federal government congratulations to that and I 00:33:59.987 --> 00:34:04.647 think that's a really nice closing message here thanks a lot we were really 00:34:04.647 --> 00:34:09.167 proud of winning this and as you mentioned this is not, 00:34:09.827 --> 00:34:11.847 a bad title to receive definitely, 00:34:13.327 --> 00:34:18.547 great Elias thank you very much hope to have you back in a few years talking 00:34:18.547 --> 00:34:23.207 about your successes there I hope so too thanks for having me Joe it was my 00:34:23.207 --> 00:34:25.247 pleasure goodbye bye bye. 00:34:25.040 --> 00:34:34.320 Music. 00:34:30.467 --> 00:34:39.787 That's all folks find more news streams events and interviews at www .startuprad.io, 00:34:40.487 --> 00:34:42.267 Remember, sharing is caring. 00:34:42.960 --> 00:34:55.808 Music.