How to Start a Tech Company as a Doctor: Turning Business Ideas into Reality

Want to know how to start a tech company? Then this week’s show was made for you.
Maybe like many new entrepreneurs, you have a great business idea but no clue what to do with it.
It’s a common problem, because turning business ideas into reality is no easy feat - especially if you’ve never done it before.
The good news?
It’s entirely possible with the right mindset, a great support system, a clear plan of action and a big dose of determination.
And there’s no better guest to explain exactly how to start a tech company as a doctor than this week’s guest, Dr Michael Watts.
He’s the co-founder of Blüm Health, a software development company founded by clinicians and engineers who are enabling digital health innovation by supporting solo entrepreneurs and NHS trusts to turn business ideas into reality.
In this episode, we focus on the steps needed to take an initial concept to the point of delivery and discuss the potential challenges you may face as a doctor entrepreneur stepping into this alternative career path.
With the right support, a health tech idea can be the change that improves outcomes and adds value and Michael shares great career advice about how clinical entrepreneurs can successfully achieve this
KEY TAKEAWAYS
• The best way to start a tech company is one step at a time

• Recognising the skills you bring to the team and working with people with complementary skills is key

• Effective time management, surrounding yourself with people who have the skills to solve the problem with you and accessing the right network for funding are crucial if you want to start a tech company

• Find a team, find the time, and understand the landscape you will have to navigate

• Academic health science networks and accelerators are there to speed up the process

• Change occurs when the pain of staying the same is greater than the pain of change

• When you can demonstrate that the change you want to implement is an easier way of providing care than what currently exists there is no reason why it shouldn’t be adopted

• There are ways to prove concept before you go to digital

• Experience is everything in software engineering and you need to work with someone who shares the vision

• Look forward and stay reactive to needs and your clients

BEST MOMENTS
‘We’ve had some really impactful projects that we have worked on’
‘It’s about clinical insight and finding the problems to solve’
‘A complimentary clinical and non-clinical team brings an understanding of the system and the technical ability’
‘Understanding the scale of the problem is the first step prior to looking for a solution’
OUR MISTAKES
This episode is an example of how we need to really support our guests in turning off their computer notifications and sounds. And perhaps wear headphones too!
We're learning!
RESOURCES FOR THIS EPISODE
Dr Michael Watts (uk.linkedin.co...)
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ABOUT THE HOST
Dr. Abeyna Bubbers-Jones is a practising medical doctor and Founder of Medic Footprints: the global platform connecting doctors with diverse career opportunities beyond conventional medicine.
Her mission is to dramatically elevate health outcomes in the world by connecting 1 million doctors with diverse careers by 2030.
Continually exploring her own path off the medical treadmill, she has developed a wealth of expertise in specialist recruitment connecting industry & health tech companies with talented doctors, whilst supporting & coaching doctors in their own career development and wellbeing.
She is an award winning entrepreneur, Consultant Occupational Health Physician, BBC Expert Voice, Public Speaker, Musician and not-so-good boulderer!
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