St. Louis, Missouri, Aug. 15, 2023 (GLOBE NEWSWIRE) -- ST. LOUIS – On Wednesday, August 16, 2023, Digital health innovators from around the world and the U.S. seeking strategic business development opportunities will convene in St. Louis for the seventh annual GlobalSTL Health Innovation Summit.
GlobalSTL, an initiative of BioSTL, a non-profit innovation hub, is set to host its GlobalSTL Health Innovation Summit. This annual event brings together key decision-makers from 22 regional and national healthcare organizations to meet with top innovators in the industry, attracting cutting-edge, digital health startups from around the world. With its innovative two-sided marketplace, GlobalSTL successfully bridges the gap between innovation buyers and global innovators, fostering collaborations that will help shape the future of healthcare.
GlobalSTL is a trusted partner for Midwest and U.S. healthcare organizations and policy leaders, including payers, health systems, pharmacy benefit managers, and employers, collectively representing an astounding $1 trillion in revenues. These forward-thinking entities rely on GlobalSTL's expertise and networks to source and curate top-tier global innovators capable of addressing their most critical pain points.
Each of the selected innovators has been chosen from a pool of more than 1,000 candidates from around the globe, making the Summit an exclusive and intimate gathering for forging valuable connections. Only startups that garnered strong interest from multiple GlobalSTL partner organizations receive an exclusive invitation to participate, ensuring an environment of strategic business opportunities.
Over the past six years, the GlobalSTL Health Innovation Summit has proven to be a launchpad for success, showcasing 75 global innovators, 41% of whom have secured lucrative contracts. These transformative companies have collectively raised a staggering $4 billion in capital, with $3 billion secured after their participation in the Summit. Notably, five of these innovators have achieved the coveted unicorn status (a valuation exceeding $1 billion).
Donn Rubin, President & CEO of BioSTL, emphasized the impact of global innovation on St. Louis, stating, "Connecting St. Louis to global innovation can be a difference-maker in our competitive standing. This Summit is a prime example of how St. Louis can be deliberate and proactive in attracting global innovation to propel our businesses and solve our challenges."
The success of the Summit underscores GlobalSTL's three-fold goal: to provide St. Louis companies access to state-of-the-art technology; to secure coveted US customers and strategic partners for international companies; and to foster the establishment of high-growth international companies in
St. Louis, enriching the local ecosystem with new jobs, talent, innovation, and economic activity.
"In just seven years, the GlobalSTL Health Innovation Summit has become the premier healthcare innovation business development event in the Midwest," said Vijay Chauhan, GlobalSTL Lead. "The 75 companies that have attended the six Summits prior to 2023 have raised more than $4 billion in investment, with 74% of that funding secured post-Summit. GlobalSTL continues to serve as an impressive value acceleration platform for top healthcare innovators while attracting global innovation and investment to St. Louis."
Digital health technologies showcased at the GlobalSTL Health Innovation Summit encompass a diverse range of solutions including restoring financial viability of healthcare delivery systems, building robust patient-member relationships, reaching and managing underserved populations, enabling aging at home, transforming caregiving, stitching together fragmented care ecosystems, and facilitating the transition from fee-for-service to value-based care.
For more information about the GlobalSTL Health Innovation Summit, visit https://biostl.org/innovationsummit
About GlobalSTL
GlobalSTL, the global company recruitment initiative of BioSTL, focuses on companies that match St. Louis’ strengths in agriculture/food, health care, security (cyber and public safety), fintech, and industrial technologies. GlobalSTL is a business development partner that delivers customers and strategic business development opportunities to international startups looking to enter the US market.
GlobalSTL, an initiative of BioSTL, is the premier business development platform for digital health companies looking to access Midwest customers. Our platform of strategic business development partners include 18 healthcare organizations from 5 Midwestern states whose combined revenues are $410B (10% US healthcare spend) and growing. GlobalSTL sources needs-based innovation that addresses strategic interests and pain points for our platform partners.
About the GlobalSTL Health Innovation Summit
The 7th annual GlobalSTL Health Innovation Summit is the premier business development event attended by an intimate group of 200+ senior executives (C-Suite members as well as VPs/directors of key strategic business units) from some of the largest healthcare organizations in St. Louis and across the nation, as well as leaders of select, fast-scaling startups from around the globe.
The Summit provides for a highly curated, intimate gathering where successful applicants meet with decision-makers from large organizations, which have specific pain points for which they are trying to solve. Only startups who receive strong interest from multiple GlobalSTL member organizations are invited to participate.
The Summit is not a typical booth-style marketing conference. The Summit is for business development and partnership creation. In fact, 41% of the startups that are invited close business deals with at least one of the strategics they meet here.
