At a recent event covering the 101010 week, Zilo International had the opportunity to listen to many great speakers talk about the the healthcare industry, as well as what happening in this rapidly evolving moving sector. For those who are unfamiliar with 101010, it is a company that organizes 10 executives, who have ten days to try and solve ten wicked problems. This week was specifically focused on the healthcare sector, and tasked the executives with solving 10 problems that exist within this sector. This specific talk dealt with impact investing, particularly as it pertains to the healthcare sector; there were healthcare executives and experts answering questions in a panel style format, hoping to help the audience to understand more of what they do and the new developments that are impacting the sector. Throughout the talk, one thing that seemed to set the healthcare industry apart is the idea of a “slow no.” This is a big barrier to innovators in the healthcare industry because it hinders forward progress, as healthcare executives employ bureaucratic practices to encourage innovation, but are hesitant to implement unproven ideas. However, it was apparent that the “slow no” has not stopped people in this industry. Innovators, passionate about what they do though, unrelentingly push their products, insisting on helping all the patients that they can. Consequently, executives and investors want to be in the room where everything is happening, breaking silos and boundaries, being focused on the impact that they make.
Another topic of focus was social impact, how some companies are starting to gear focus towards high impact investing; an investment that might not get as much of a monetary return, but will greatly help the community around it in a positive way. Inherent in this idea of social impact is the question, what can the company do for to better the community around it? With this impact investment strategy, there comes a tension between whether or not a company is an economically good investment, or a socially good company. However one of the speakers noted, “There are no sacrifices if you bet on the right company” where the right company is the one with the right values and thinks of the common good. The social impact industry is worth around 3 trillion dollars, and many of these investor are focused on tackling wicked problems, such as affordable housing, and quality healthcare. In essence dedicating their funds to truly making a difference in their community. They actively search for places and companies that are tangibly changing people’s lives. These leaders have and will continue to grapple with the challenges of changing technology in their sector, as well as having to balance the return of an investment from impact to actual monetary return.
Zilo International Group is actively dedicated to fostering impactful innovation especially in the healthcare industry. We act as mentors for companies that reach out to us, and we provide services that will help overcome the complex challenges inherent to the healthcare industry. In the hopes that we collectively can create a better world for all.