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Since ArchHacks is just around the corner (November 4-6), we thought it would be useful to go into more detail about our theme: HealthTech. Specifically, what HealthTech is, how it started, and what it has evolved into today.

HealthTech, short for Health Technology, involves applying a combination of medical and engineering knowledge to solving health-related problems. HealthTech includes everything from drugs, vaccines, medical devices, and procedures, to the general improvement of medical systems. To better understand how HealthTech has evolved, it is useful to divide its history into three periods: the pre-computer period, the pre-Internet period, and the post-Internet period.

One of the very first HealthTech devices was the stethoscope, invented in 1816 to make it easier to listen to a person’s heartbeat without having to press your ear against their skin. In 1895, Wilhelm Röntgen accidentally discovered X-rays, which made it possible to identify bone structure. Devices that we might now take for granted were revolutionary in their time and pushed medical innovation forward.

In the next century, as computers became more powerful, the size of devices decreased and brought about inventions such as the pacemaker and other medical implants. Around the same time, the now ubiquitous MRI and CT scan machines were invented. New devices were of increasing complexity and functionality and greatly improved medicine.

Today, the proliferation of smartphones, coupled with powerful internet, has made it easier to access information than ever before.

Mobile health technology

Source: Macrovector/Shutterstock.com

Innovation has made it possible for consumers to use portable devices to access their medical information, monitor their vital signs, take tests at home, and carry out a wide range of tasks. The patient has greater control over his or her health, and is less dependent on doctors and hospitals.

There is an increased demand in HealthTech due to its many benefits and ease of access. This has incentivized developers to create new apps centered around health, and it has opened up the possibility for unprecedented collaboration. As data is now collected in real time, companies are able to collect large amounts of personal medical data. The convergence of Artificial Intelligence and Big Data is allowing doctors to find new patterns in this data and use it to approach finding cures in unique ways.

One of the biggest challenges in HealthTech is to create an ecosystem where devices can all communicate with one another to provide consumers with personalized solutions. Thousands of mobile health technologies exist, ranging from diet and fitness trackers to sleep monitors, but each of these devices is more useful when combined with others. A study by Grand View Research reported that the HealthTech market is anticipated to reach $ 104.5 billion by the year 2020.

2020

To tap into this potential and remain competitive in the market, HealthTech companies will have to become less isolated and collaborate in order to create the best products and provide the best value to their consumers.

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TD Ameritrade Holding Corporation (Nasdaq: AMTD) and Scottrade announced on Monday that they have entered into a definitive agreement for TD Ameritrade to acquire Scottrade in a cash and stock deal valued at $4 billion dollars as of Oct. 24, 2016.

“The whole industry is under fee pressure,” Rich Ryffel told the St. Louis Post-Dispatch. Ryffel is a senior lecturer at Olin and a 30-year veteran of the securities business. “They want to get as much scale as they can,” he said.

According to the TD Ameritrade press release, “The transaction combines two highly complementary organizations with long histories of helping millions of people invest in their financial futures. For TD Ameritrade, the transaction adds significant scale to its retail business, extends its leadership in trading, and more than quadruples the size of its geographic sales force footprint.”

For the 12 months ended Sept. 30, 2016, TD Ameritrade and Scottrade, on a pro-forma combined basis, had:

  • 600,000 average client trades per day
  • $944 billion in total client assets

  • 10 million funded client accounts

  • $14 billion in margin balances

  • $149 billion in cash balances

CATEGORY: News



Startup Connection, St. Louis’ largest event focused on innovation and entrepreneurship, has announced the companies selected to take part in its Venture Showcase Nov. 16 at Washington University in St. Louis. The startups will have the opportunity to pitch their products, services and ideas to the business community, as well as compete for in-kind and cash prizes.

This year, 27 of the 74 companies in the Showcase got their start at Washington University or have a founding member with a close connection to the university. It’s evidence of the institution’s deep commitment to supporting entrepreneurship for students, faculty, staff and alumni.

“More than a third of the companies chosen to participate in Startup Connection’s Venture Showcase have distinct WashU DNA—they were founded here, received support from our entrepreneurship platform, or include executive officers with direct links to our university,” said Dedric Carter, vice chancellor for operations and technology transfer. “It certainly speaks to Washington University’s commitment to the innovation/entrepreneurship environment, and we are excited to welcome our friends from Startup Connection back to campus next month for their showcase event.”

The early-stage startups taking part in November’s event, to be held in Olin’s Knight Hall and Bauer Hall, represent a wide group of industries, from biotechnology and advanced manufacturing to consumer products and tech. Startup Connection’s Resource Fair features organizations that provide support, services, and connections for startup companies.

“Startup Connection is a great event to attend to see what’s new in St. Louis’ startup community,” said Startup Connection Managing Director Phyllis Ellison, director of entrepreneur services and institutional and corporate partnerships at the Cortex Innovation Community.  “We have an exciting group of companies this year that really emphasizes the variety of technology and innovation happening in the region.”

The Washington University-based businesses taking part in Startup Connection include:

  • Aggio
  • AirZaar Inc.
  • Applied Particle Technology
  • Bandura
  • Better Weekdays
  • Blue Line Technology
  • Cast
  • CredEd
  • DeepGene LLC
  • Dynamic Surgical
  • Eureka Analytics
  • Geneoscopy
  • GiftAMeal
  • Hockey Valet
  • Hummingbird Technologies
  • International PROOF System
  • Ivani LLC
  • Less Annoying CRM
  • Lipospectrum
  • Olio City
  • PFITR
  • Pikazo
  • Pro-Arc Diagnostics
  • Riley’s Premium Pet Products
  • Rozzy Learning Company
  • Sparo Labs
  • Spectrum Perception LLC
  • Viosera Therapeutics

For more information about the event, including registration information, visit: www.startupconnection.org

Guest blogger:

CATEGORY: Career, News



The Washington University-Fudan University Executive MBA (EMBA) program in Shanghai is ranked at #5 in the 2016 Financial Times survey of the top 100 EMBA programs in the world. Among EMBA programs offered in mainland China, the WashU-Fudan program is ranked #2. The new rankings were released Monday, October 17.

The Financial Times survey is based on a wide range of criteria, with a particular focus on student career achievement. Our graduates report salary increases of 49% according to the new 2016 FT survey, which moved our ranking in that category up to #2 from #4 in the global ranking. Another significant category reflects the fact that candidates for the WashU-Fudan EMBA are among the most highly experienced and accomplished executives, moving to #6 from #11 on the global scale of work experience.

“The Washington University-Fudan EMBA program continues to attract a diverse cohort of students each year from multinational companies based in China and throughout Asia,” said Kurt Dirks, Interim Dean of Olin Business School. “We are extremely proud of our partnership with Fudan. Our world-class faculty is dedicated to preparing global leaders who meet the challenges of the 21st century.”

Washington University was one of the first western schools to partner with a Chinese university and introduce executive education to the Asian market in 2002. Based on a rigorous and leadership-focused curriculum, the WashU-Fudan program is taught by members of the Olin and Fudan faculties in Shanghai. In addition to St. Louis and Shanghai, Olin offers Executive MBA programs in Denver, Kansas City, and Mumbai in partnership with IIT Bombay Shailesh J. Mehta School of Management.

Click here for the Financial Times methodology.

CATEGORY: Global, News



In April 2015, IIT-Bombay and Washington University launched the first US-India joint Executive MBA program in Mumbai. Today, Oct. 14, 2016, the first batch, or cohort, graduated in St. Louis after a three week residency stateside. Congratulations to these trailblazing executives who are now alumni of two leading universities and equipped with new leadership skills to manage business challenges in the 21st century.

Olin’s Interim Dean Kurt Dirks was master of ceremonies for the graduation event held in Knight Hall’s Emerson Auditorium. David Farr, Chairman and Chief Executive Officer of Emerson was the keynote speaker. Washington University Chancellor Mark Wrighton also addressed the students, faculty, staff, and family members present. The entire ceremony was live-streamed online; the recorded version will be available for viewing beginning Oct. 18, link here.

Shivganesh Bhargava, Head of the Shailesh J. Mehta School of Management at IIT Bombay was also a featured speaker at the graduation ceremony as well as IIT Bombay Professor Prasanna Mujumdar. Sunil Punjab, Managing Director for Sigma-Aldrich in India, and a member of the graduating class, was chosen by his peers to be the student speaker. Ashly Thomas Jacob received the Student Recognition Award.

Inaugural class at a glance:

  • Approximately 16 average years of professional experience, with 11 years of management experience
  • 11 industries represented — both India and multinational companies
  • Over 40 percent of the class are executives at the senior vice president level and higher
  • Over 50 percent of the class is traveling from outside of the Mumbai area

2016 EMBA Mumbai graduation ceremony:

Click on thumbnail to expand image. Photos by Sid Hastings, WUSTL Photo Services.

 

CATEGORY: Global, News