Last week our team launched Lantern, an online and mobile tool that evaluates your mental health in minutes. Personally, this moment was one of great pride for what our team has been working on for over a year—but also one of anxiety and worry. (Luckily, we now have an app for that). Will people actually buy our product? Will anyone even notice? If people buy it, will they continue to use it?
Founders in any industry ask themselves these questions every day, so these aren’t novel feelings. But running a startup in healthcare adds an additional layer that’s even more important than the fundamentals of your business and market opportunity: will user health actually improve? And will it be significant enough to publish results (i.e. through a randomized controlled trial)? I believe most digital health companies fail to get off the ground trying to answer this. It’s much easier to get someone to buy something than it is to get them to buy something AND also prove to the scientific community that your product is effective.