It is hard to pinpoint a set of exact traits that make a startup successful. There are many different ways to skin a cat. That said, a few things seem to set a startup on the path towards success. One of these is an incredibly narrow focus. Well, we saw a company at 36/86 that is doing just that. Florence Healthcare, as the name suggests, is a healthcare startup. Their product is hyper focused on the clinical trial space.
Even within the small sub-industry of clinical trials, Florence Healthcare narrows their focus again. Within the sub-industry, the company is only concerned with accelerating clinical drug trials, with a new type automation software:
We improve clinical trial data flow. Our tools reduce source document friction—making management and monitoring of source documents secure & seamless,1
For those that aren’t really familiar with the clinical trial process,2 the thoroughness that the regulatory bodies demand make it an incredibly time consuming process. Much like any program with a great deal of regulatory oversight, the clinical trials process includes many redundancies. This is where Florence Healthcare comes in. Through their Florence Cloud Binder, the company manages to reduce a lot of the redundancies, all while staying compliant with the regulatory agencies. Without getting into all of the technical information, which is beyond my comprehension anyway, the Cloud Binder acts as a sort of repository for information; both for the doctors conducting the trials, and the regulators.
During 36/86 Ryan Jones, Florence Health CEO, took to the stage to pitch the company. You can see his pitch below, and find more info at FlorenceHC.com.