Last week’s Med Tech Showcase set a new standard for SARTA’s MedStart. Besides the start-ups, entrepreneurs, and others engaged in early-stage med tech industry, besides the couple hundred million in Bay Area venture capital represented on the investor panel, the last two presentations were on behalf of four major health systems and a big med tech company that, among them, account for around $80 billion in annual revenue. That’s billions with a B, close to three percent of the entire US healthcare spending, showing up for our Med Tech Showcase to discuss the future of medicine and healthcare, its transformation through technology. And that was leadership of those organizations: the CEO of Siemens Healthcare North America, the CEO of UCDHS, the CMO of Sutter Health System, and four clinician leaders from the health systems chosen by their health system leadership to represent them in discussing the adoption of new technology. And people were wowed. This is now a happening place in med tech and bioscience. We’ve already been approached by two national organizations wanting to co-produce next year’s conference. We’ve already had leadership from another med tech of similar size to Siemens wondering why it wasn’t their CEO we invited, something we’re working to rectify next year.
At SARTA, our humble little building on Power Inn Road, our tenants are also experiencing exciting times. One tenant is working through two proposals he is likely to win, either one of which will require him to move out of SARTA into much larger space, establishing his company as a leader in his space. And another tenant is hard at work on a national product launch scheduled for next Monday. There’s buzz there, too. Risk is being taken. Success is happening.
The Next Economy is gathering momentum, and promises to engage our entire community in support of our thriving, but not yet well-recognized innovation ecosystem. Meg Arnold is back at NSF with UCDHS/CBST leadership in support of its AIR Grant, then she’s back orchestrating an event for Thursday where 40 CEOs of technology-based companies here will rally around SARTA’s vision for the Next Economy. Personally, I’m working as hard as I ever have, launching a new med tech accelerator and seed stage venture capital fund to accompany it.
Business goes through cycles, and in the down cycles, the weak get slaughtered, and in super down cycles–like we’ve just been through–no one escapes unscathed. But its called a “cycle” because it goes back and forth, and there is no better time to invest in business, to launch new ventures, to deploy new venture capital than at the tail end of a down cycle, the farther down it went, the better the opportunity, before everyone realizes the change in direction. After the storm, even the Perfect Storm, there is a return to normalcy, an opportunity for enterprise. Investments made now have all the promise of success in a world refreshed.
As we move into the promise of this upcycle, Sacramento is becoming aware of its strengths in innovation, its enterprising talent, its great community, its 12% discount to the Bay Area cost structure, its wonderful people. Now is the time to launch your next venture, Sacramento. May its success exceed your imagination.
PS – And what’s a blog without comments? If you agree that opportunity is knocking, that now is a good time for enterprise and investment, or have a recent success to share, post a comment telling your own story. I’m interested in reading it. I’m even more interested in seeing everyone involved in the Next Economy, everyone in our whole community, open their eyes to your energy, enterprise, innovation and entrepreneurship. Time to launch, Sacramento. Don’t miss this opportunity.