[Made in New York] Startup Tour, FrenchFounders, Healthcare, Development strategy …
INTERVIEW // Launched in 2017, Invivox is a Bordeaux start-up which settled in New York in order to expand its activities on the American market. Invivox wants to revolutionize continuous medical training by making it easier for doctors to connect.
What is the value proposition of Invivox?
Invivox responds to an unmet need of doctors and to a challenge of the 21st century: continuing medical education. The platform allows doctors to connect for medical training, at the expert’s location. Invivox allows doctors to find, register and pay for training online. Invivox will then manage the logistics part, i.e. the doctor’s travel to the place of training, the doctor’s hotel, etc.
Invivox gives worldwide visibility to the medical training courses listed on its platform, thus offering hospitals the opportunity to become global training “hubs”.
How did the idea of Invivox come about?
The idea for Invivox comes from my experience with surgeons and doctors. For their continuing education, doctors favor training in companionship, ie the possibility of going to a colleague to discover a new technique.
We have therefore created a platform that facilitates companionship between doctors.
Can you tell us about the Invivox team?
There are 14 of us at Invivox. There were 4 of us in January 2017. The whole team is based in Bordeaux, with the exception of myself, in an outpost in New York.
You have just raised 2.8 million euros, what are you going to allocate these funds to? Who are your investors?
Our 4 main investors are BPI France which took the “lead” on this fundraising, the ISAI entrepreneurs fund, Mr. Patrice Mayolle through his investment company ETHICapital Partners and the New York investor Claude Wasserstein through its FINE DAY Ventures fund. The money raised aims to make France initially a “hub” of medical training for doctors around the world.
How is your recent installation in New York part of your development strategy?
The United States, along with Europe, represent a training center for doctors around the world. From the start, we wanted to make our mark in the United States.
Can you tell us about the opportunity you had as a winner of the StartUp Tour?
The FrenchTech Tour enabled me to find an investor in the United States but opened many doors for me, by extension, in American hospitals.
What are your future challenges (market, service, technology)? What are your goals (market share, income)?
Our goal is to become the global benchmark platform for physicians seeking practical training.
We will continue to innovate in order to meet the real needs of physicians.
You are the first platform of this type and do not yet have a direct competitor, what strategies will you put in place to remain a leader in this field?
Our strategy consists of enriching and expanding the training offer, with the best hospitals in the world and the greatest experts. Here in the United States, we are already working with John Hopkins Hospital in Baltimore, with Columbia / Presbytarian hospital in New York or with the NorthWestern Memorial hospital in Chicago.
1. What is the Startup Tour?
The Startup Tour was created last year by FrenchFounders. The idea is to select a French startup that the entire ecosystem will support to lead to a sale or an IPO in the next three years. The selection is organized around semi-finals in 6 different cities (Los Angeles, San Francisco, New York, Miami, Montreal and Paris) and a final in New York on September 25 or 26. This year, the event is co-organized with BNP Paribas on the same format, with a novelty: an American company that wants to settle in France will also be selected. This makes the Startup Tour the first competition with a Franco-American transatlantic axis.
2. Which startups is this event intended for? On what criteria do you decide between the winners?
This competition is intended for mature startups, in all types of industries, who wish to settle in the United States for startups founded or co-founded by a French-speaking person or in France for American startups. The startups selected to participate in the Startup Tour have raised a minimum of $ 500,000, their product or service is already on the market and generates a minimum income of $ 500,000. They will be rewarded according to their growth potential in the American market.
3. How are the members of the jury chosen? Mentors?
The jury is different for each semi-final, but always made up of entrepreneurs, investors and top executives from large groups. The juries include actors in all types of industries, for example Jonathan Benhamou, co-founder of PeopleDoc, Hervé Brunet GM Markets @ FreeWheel, a Comcast company, Blandine Velin, Global Head of Insights and Innovation @ Chanel or Guillaume Le Cunff, President and CEO @ Nespresso USA.
Last year Mounir Mahjoubi, Secretary of State to the Prime Minister in charge of Digital, attended the grand final and awarded the 1st Prize. This year a member of the government will also be present for the final, and will be announced in September. For this second edition, the jury will be composed of 5 French and 5 Americans and will have as president Nathalie Kosciusko Morizet, Vice President Cloud & Cyber Security North America @ Capgemini and ex-Minister of Ecology, Sustainable Development, Transport and Housing.
4. What are the benefits for the participants?
The winners are rewarded financially but above all by access to mentoring and to the network of co-organizers (FrenchFounders & BNP Paribas), jury, sponsors (Capgemini, Wavestone, Idinvest, Adyen, Allianz, United Airlines, Chappuis Halder, PRIME , Business France…), mentors (who are more than 100 on this event, mainly members of FrenchFounders) and partners (from the Consulates of France to FrenchTech, incubators…). This whole ecosystem is incredibly invested in seeing the future French nugget emerge! The awarded startups will also have the opportunity to spend several days with BNP Paribas teams (M&A, consulting, etc.). The same goes for the other partners.
We are fortunate to have a network of experts who work in American or French companies in the United States and who can support them and be mentors in establishing themselves in the American market. By giving them visibility, especially with large American companies, we save them time.
5. Do you have any Success Story examples?
The Startup Tour 1st edition gave rise to many “success stories”. Throughout the competition, the startups were able to forge lasting ties, some of which resulted in major contracts. For example, last year, Julien Delpech, the founder of Invivox won the semi-final in New York, which allowed him to find his biggest customer in the United States, but also to meet New York investor Claude Wasserstein, present during the semi-final at the French Consulate in New York.
6. Can you tell us a few words about the company behind this event, FrenchFounders?
FrenchFounders is a Business Club bringing together more than 3000 CEOs, top executives, entrepreneurs and French-speaking investors, from all types of industries, all over the world. Our core activity is to facilitate the connection between our members for business exchanges through personalized and targeted networking according to their needs: our members generally have little time and travel a lot, we save them time. In order to animate the community, our teams are distributed as close as possible to the members between New York, San Francisco, Los Angeles, Miami, Montreal, Paris, London, Shanghai, Singapore and Hong Kong.
In parallel with the Startup Tour or the Retail Party (every year in January), we also organize more than 350 private events per year, with emblematic speakers from – or not – the French Founders community.
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