Building Teams in Style
Having the foresight to see what’s doable and what’s not before investing time, the know-how and the track record of building phenomenal teams that can implement innovative ideas at a very high level, Oren Goldshtein, Vectorious CEO, proves to be a strategic leader in the making. The quality of a business depends on the choices you make and this is especially true when choosing your team. Goldshtein puts a lot of work into hiring the right people. A crucial part of his hiring strategy is to identify and map a prospective team member’s strengths and weaknesses. When the strength and weaknesses of the team members complement each other, the team would grow cohesively. Goldstein enjoys various interests outside of work to maintain a good work-life balance. Besides being a technology innovator, he enjoys reading novels, enjoys listening to classical music, and always up for fishing.
Back in 2011, inspired by the idea of CardioMEMS Goldshtein along with Dr. Eyal Orion, tried to imagine the next stage of implantable hemodynamic monitoring, without limiting themselves with technological and medical constraints. The duo articulated a variety of advances that would be valued by both clinicians and patients dealing with heart failure, as well as technologies that might be harnessed for this purpose. An implantable digital sensor directly monitoring blood pressure could offer much better signal quality than an analog one built from passive electronic components like CardioMEMS. Other technological trends, from the increasing affordability of massive processing power in ever-more-miniature formats to wireless and leadless capacities, also encouraged them to execute their plan and eventually Vectorious was born.
In its early stage, Vectorious’ capital resources were extremely limited. Despite the constraints associated with cost and time, Goldshtein’s team managed to develop the ASIC chip they needed to build the foundation of their technology. Goldshtein remembers this as his ideal moment of success. “Developing such a chip is costly and takes time, I had only one chance to do it right as we had a very low budget. It worked beyond expectations and we have built the entire Vectorious’ V-LAP system around this, ” says Goldshtein.
Challenges in the Healthcare Industry
According to Goldshtein, some of the centers that exist in the current healthcare industry is the very long regulatory and reimbursement path, and scarce financial resources. In such an environment start-ups are pressured to enter human, they sometimes do it without building a sound technological infrastructure and once they finally enter the human phase of testing, they are pressured to make clinical and regularity progress and cannot go back and improve the technology. ” I don’t see an easy way around this, except by having an “insanely great” R&D team, top-notch management, and superior investors from a very early stage, ” says Goldshtein. Though digital transformation is solving a lot of problems in the healthcare sector, they are still not effective enough. “To materialize this vision, we need more specific, accurate and actionable physiological indications from the patients. Just implementing AI on existing patients’ data is not enough, ” says Goldshtein
Wrapping it Up,
Goldshtein advises the booming entrepreneurs to find the right partners and ensure that each partner has a significant role in the contribution to the success of the company. He also advises to find the right investors and execute plans at the right time.
“Sometimes, there are no other alternatives. You have to take risks and do the right thing even if it can end in a total failure.”