September 2023 Digital Healthcare Breakfast Recap

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We wrapped up the year with our fourth healthcare breakfast, gathering Austin's digital health leaders, including CEOs, founders, and executives from early-stage ventures. A highlight of the morning was the exchange of insights on talent and compensation trends, led by Pamela Zients. Pamela provided a comprehensive overview of the market, shedding light on the current landscape and offering perspectives that are crucial for making informed hiring decisions.

Key Discussions and Insights

The discussions at this breakfast centered on making critical hiring decisions in the digital health sector. We explored several nuanced topics, including:

• Industry vs. Functional Expertise: Debating whether to prioritize hiring individuals with specific industry knowledge or those with functional expertise to drive company success.
• Short-Term Goals vs. Long-Term Commitment: Examining the balance between achieving immediate objectives and fostering long-term employee loyalty and development.
• Relocation Trends: Understanding the current appetite for relocation among potential hires and how it impacts talent acquisition strategies.

Looking Ahead

We are grateful to all the attendees for their participation and contributions to these discussions. Your engagement helps us continue fostering a collaborative environment within the digital healthcare community.

Thank you to Pamela Zients for leading the conversation and sharing your valuable expertise.

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In November, we had the privilege of hosting our first annual Founder and CEO Summit. Over 50 leaders from our portfolio, ranging from early seed stage startups to those who have navigated successful exits, gathered for an event that was more than just a summit—it was a dynamic exchange of experiences, challenges, and triumphs.

Themes of the Summit: Leadership and Connection

At the heart of the Summit were the themes of Leadership and Connection, which were explored through various sessions and activities:

• Keynote Speaker Kaley Klemp: The renowned executive coach and author provided actionable frameworks that challenged our thinking and pushed us to reflect on our leadership skills. Her insights were both inspiring and practical, giving attendees new tools to enhance their leadership effectiveness.
• Small Group Breakouts and 1x1 Matches: Beyond the main stage, we curated small group breakouts and personalized 1x1 matches that allowed for deep dives into brainstorming and problem-solving. These sessions facilitated connections and the exchange of valuable insights among peers.
• Networking Opportunities: The Summit presented a unique opportunity for founders and CEOs to expand their networks, gain fresh perspectives, and build long-lasting relationships with fellow leaders who are shaping the future of entrepreneurship.

Special Thanks

We extend our gratitude to everyone who contributed to the success of this inaugural event, including our Venture Partners. Special thanks to Latham & Watkins, SVB, Escalon, and HPI for their support and sponsorship.

Looking Ahead

We are excited to build on the momentum of this Summit and are already planning our second annual Founder and CEO Summit November 2024. Stay tuned for more details and prepare to connect, learn, and grow with us again soon!

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Entrepreneurship is an exhilarating journey, but it comes with its unique set of challenges. According to a study by Michael Freeman, PhD, entrepreneurs are 50% more likely to report having a mental health condition and 2-3 times more likely to suffer from depression. This sheds light on the importance of prioritizing mental well-being in the entrepreneurial community.

In April, we had the privilege of hosting a Mental Health Reset with a group of our portfolio founders and CEOs. Led by Laura Shook Guzman, the event provided a safe space for learning, sharing, and resetting.

Event Overview

Next Coast Ventures was excited to host our first event focusing on founder and executive mental health. We understand the importance of well-being in the entrepreneurial world and are eager to support our leaders in navigating the challenges they face. The event featured:

• Two Programming Sessions: The sessions addressed key topics such as stress, burnout, and the link between mental health and performance.
• Casual Lunch: Attendees had the opportunity to connect and share experiences in a relaxed setting.
• Expert Facilitation: Laura Shook Guzman and the Pilea Coaching Network provided valuable insights and practical strategies.

Key Discussions and Takeaways

• Stress Management Techniques: Laura shared practical strategies for managing stress, including mindfulness practices, time management tips, and the importance of work-life balance.
• Building Resilience: Attendees discussed ways to build personal resilience, focusing on the ability to bounce back from setbacks and maintain a positive outlook.
• Creating a Support Network: The event emphasized the value of having a strong support network, including mentors, peers, and mental health professionals.
• Recognizing Signs of Burnout: Participants learned how to identify early signs of burnout and the steps to take to address it before it becomes overwhelming.

Pilea Coaching Network will also offer follow-up support, including consultations to check progress and the option for ongoing support. We ensured a confidential and open environment by not being present during the sessions.

A Special Thanks

We extend our appreciation to Pilea Coaching Network for their partnership and sponsorship of the event. Their support made this invaluable gathering possible.

Moving Forward

At NCV, we are committed to continuing these important conversations and providing the necessary support for our leaders. Stay tuned for more updates and future events focused on mental health and well-being.