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The Analyst Perspective
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Many successful products have been launched during SXSW throughout the years. Leveraging this success and its long history as a behemoth innovation-focused event, SXSW developed a platform for newcomers. With the SXSW Startup Village and the SXSW Accelerator, SXSW offers domestic and foreign startups a platform to introduce themselves to the US and the world market.Even though healthcare has only been a part of the SXSW universe for four years, the SXSW Accelerator has already created a healthcare category for which startups have been diligently applying. Reputable business accelerators and pitch competitions within the US and around the world have promoted the accelerator as a “must pitch” event.Since the SXSW Accelerator launch, one-third of startups have been from outside of the US; 71% of companies received funding post-SXSW, amounting to $3.1 billion; and 14% were acquired by Facebook, Apple or the likes (stats as of June 2016). During the 2016 Demo Day alone, four accelerator companies were directly approached by investors during the event and one of the companies walked away with $700,000 in funding. Chris Valentine, Adeo InterActive CEO, responsible for managing the SXSW Accelerator program, is frequently approached by venture capitalist firms and angel investors looking for specific companies for their investment portfolios. The following growth insight discusses major obeservations from SXSW2018 in Austin, Texas, as well as highlighting interesting healthcare companies observed during the event.
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