How do you assess the opportunities for start-ups in the medical market in your country?
Sonntag: Germany is on the rise in the digital health space. Factors such as regulatory advances, the presence of successful accelerators, increasing numbers of HealthTech investors and associations make Germany an attractive ecosystem for digital health start-ups. In Munich, we receive a lot of support from the local start-up community and start-up centers, such as UnternehmerTUM, which is very helpful. In addition, the German medical market is one of the most lucrative healthcare markets in the world. Looking at the U.S., however, Germany still can learn a lot.
What advice would you give future start-ups in the medical market?
Sonntag: In addition to the technical expertise, at least one of the team members should have domain-specific knowledge, good understanding of the industry and, at best, an existing network in the medical field your product belongs to. This field is heavily based on reputation and visibility. It helps to have someone in the team who has that background, rather than building it up from scratch.
Please describe the medical technology industry in three words.
Sonntag: Lifesaving, in transition, regulated
What are your plans for the next two years?
Sonntag: We want to significantly grow into different markets and internationally with expansion to the US and Asia.