What are the most effective ways to source deals in healthcare and technology industries?

1 Network strategically

One of the most common and powerful ways to source deals is to leverage your existing network of entrepreneurs, investors, mentors, advisors, and industry experts. These people can provide you with referrals, introductions, insights, and feedback on potential opportunities. However, you need to be strategic about how you network. You should focus on building genuine and long-term relationships, rather than just collecting contacts. You should also diversify your network and reach out to different types of sources, such as accelerators, incubators, universities, research institutes, conferences, events, and online platforms.

2 Scout proactively

Another way to source deals is to scout for startups that match your investment criteria and thesis, rather than waiting for them to come to you. This requires you to do your own research and analysis, using various tools and methods, such as databases, newsletters, blogs, podcasts, social media, web scraping, and artificial intelligence. By scouting proactively, you can identify and approach startups that are not yet on the radar of other investors, or that are in the early stages of their development. You can also tailor your pitch and offer to their specific needs and goals.

3 Partner creatively

A third way to source deals is to partner with other organizations or individuals that can help you access and evaluate startups in healthcare and technology industries. These can include corporate partners, strategic partners, co-investors, syndicates, angel groups, scouts, and influencers. By partnering creatively, you can leverage the resources, expertise, network, and reputation of your partners, and share the risks and rewards of investing. You can also create value for the startups by providing them with more than just capital, such as market access, distribution channels, customer feedback, and mentorship.

4 Experiment constantly

A fourth way to source deals is to experiment with different approaches and techniques, and measure their results and impact. You should not rely on a single or fixed method of sourcing deals, but rather test and iterate on different hypotheses and assumptions. You should also track and analyze your sourcing metrics, such as deal flow, conversion rate, quality, diversity, and return on investment. By experimenting constantly, you can learn from your successes and failures, and optimize your sourcing strategy and process.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?