最有看点的互联网金融门户

最有看点的互联网金融门户
国际资讯

众筹平台Poliwogg引领医疗保健投资新时代

正如《美国就业法案》中所述,众筹将为集资方式带来彻底改变,且潜力巨大。传统的集资仅面向小部分的借贷团体(更不用提普通大众了)。在未来,众筹将极有可能在投资和借贷领域开创一片新天地,比如医疗保健行业就会发生巨大变化。

格雷格·西蒙是Poliwogg公司的首席执行官,这家公司致力于为早期医疗保健公司提供众筹服务。此前,格雷格·西蒙曾在美国国会担任要职(技术首席执行官的战略顾问),同时还是一家为患者代言的非营利组织的联合创始人。他认为《美国就业法案》、众筹和Poliwogg公司将为整个医疗保健行业带来全新投资方式。

:您在ROTH会议上谈到《美国就业法案》将彻底改变整个医疗保健行业的融资方式。那么,你认为在未来5-10年间,医疗保健行业融资将发生怎样的改变?普通大众将如何接触到这一行业,而各类投资者又将如何参与到不同类别的医疗研究发展当中?

格雷格·西蒙:长期以来,早期医疗保健公司一直都处于资金匮乏的困境。国家卫生研究所,还有一些基金会都会对初期创业公司和新点子进行投资,在某公司或其产品即将面世时,又会有传统风投和机构提供资金支持。但是在这期间,为数不少的创业公司都宣告失败,不是因为创意不好,而是因为他们无法接触到后期发展所需的风险投资和企业成长资金。

《美国就业法案》出台使得上百万民众获得了新的投资途径。目前美国800万的合格投资者中,仅有3%投资过私营公司。那么又是什么阻碍了这其余97%的投资者对包括医疗保健行业在内的私营公司进行投资呢?

医疗保健公司通常都需要大笔资金,但是在《美国就业法案》出台之前,医疗保健公司的投资者数量十分有限。也就是说,单个投资者的投资额度都相当高,而这也就把绝大多数人拒之门外,因为他们大都连最低的投资额度都无法承担。

《美国就业法案》出台之前,即使是为一家私营企业筹集资金,你也不能够大肆宣传。比如你正在为一家帕金森症治疗方案公司筹资,你就不能广而告之,除非你能够确认听众的资金绝对充裕。这也就意味着你只能同投资者进行单独谈话,无疑,这种筹资方式十分繁琐低效。等同于我们用这种方式出售汽车,注定销售成绩不佳。

现在,突然之间,私营公司投资额度(即便你是合格投资人)大幅减少,更多人能够参与其中,而且投资组合也可以更加丰富多样。

目前,投资者们也够能了解到公司的相关信息。以前,除非是专业人士,否则人们往往对医疗行业的技术进展毫无所知。因为不会有人专程告知你行业进展,除非你们私交甚密。所以,这种筹款方式十分低效。

现在,发起人可以向大家详细介绍自己的项目,众人拾柴火焰高,每个投资者只需要进行小笔投资就能大大推动项目的进展,而投资者的数目也远远不止数百万。其中获益最大的则是医疗保健,因为这个行业资金需求量很大。医疗行业在整个经济市场中规模最大,也增长最快。我们每个人都会用到医疗保健,都要支付医疗保健的费用,总有一天我们也都会需要医疗保健。

我们不会因为当前遇到问题,而缩减预算,我们只会加大投资力度,让医疗行业从耗资产业转向一项资产。所以,我们不能只把疾病看成榨干我们资产的累赘,我们现在应当转变思想,比如说:我得了糖尿病,但是我只是生病了,但它吞噬不了我。我可以参与投资一家降低糖尿病治疗成本的公司,借此出一份力,来改进治疗效果。如果研究成功,我不仅能获得良好治疗,并且还能赚上一笔。"

在经济市场的其他领域,通过利率调整、期权、风险投资和期货市场,人们可以选择多种投资方式。这个在医疗行业从未有过。所以,《美国就业法案》的出现,加上Poliwogg公司的努力,让人们有机会就自身关注的健康方向进行投资。他们可以投资于那些反过来会对他们进行投资的公司,也就是说,那些公司正在研发新疗法,但是需要大笔研发资金,远超风险资本市场所能提供的资金数额。

现在,风险投资者会告诉你:"90%的投资都遭遇失败,因此我们要对为数众多的公司进行投资。"这听起来十分荒诞,事实完全相反。如果你是一名棒球运动员,你会希望击中更多的球。如果你有95%的失败率,那么,你需要做的就是对更多的公司进行投资,这样5%的成功概率下,成功次数才会越来越多,也就是说,要增加总数。

所以这就是为什么我觉得,《美国就业法案》的出现,加上Poliwogg公司的努力,个人合格投资者将有更多的机会对医疗保健行业进行投资。同时,Poliwogg公司也在为投资者带来其他创新投资方式,例如公共投资基金,一般投资者可以就个人喜好,分散资金并投资到不同方向。借此,我们能成功吸引到更多的人和资金。

:不久的将来和长久来看,您认为众筹是否可以保持活跃?过去几年,非盈利组织在为医疗研究筹资方面取得了一定成功,你认为在未来人们是否会对以盈利为目的的医疗保健投资项目感兴趣?

格雷格·西蒙:众筹一般有两种。一种是捐赠,也就是大部分人正在做的事情,它是一种传统的慈善方式,只不过现在变成了在线的形式。这样将会有更多人想出更好的点子。但是最终还是会有很多人失败,因为他们无法获取资金来组建公司。所以,我们需要把美国捐助医疗事业民众的利益联结起来,让他们从自己的捐助中获益。

这正好解释了Poliwogg为什么要同其他基金会进行合作:我们必须要借助投资资本来改进医疗保健,减少疾病死亡人数。我们正同癫痫病基金会进行合作。该基金会已经提前对一些相关公司进行调查,并协助那些能够改进癫痫病治疗效果的公司提供资助,同时他们也意识到如今这些公司所需的资金量远远不是捐助资金可以满足的。所以,我们同这些基金会协作寻找最佳资助公司,然后,我们同合作的基金会一起向捐助者宣传项目,同时也会公开向社会人士进行宣传,以期吸引更多私人投资资金。

Poliwogg目前正致力于为每家公司筹集200万美元至1000万美元。也就是说,每个投资者只需要投资15至2万美元不等,相较于传统的生物技术投资每位投资者需要投资200至50万美元而言,金额降低不少。Poliwogg所发起的众筹,让更多的投资者能够有机会参与进来。这样,我们能够获得大笔资金,尽管每位投资者只需出资最多2万美元,而非20万美元。

如果能成功吸引余下97%从未参与到私人投资的合格投资者,那么就能吸引更多人参与到众筹项目中来。这样,有了资金来源,医疗保健公司就能够展开研发,测试想法是否可行。由此可见,群体捐助十分重要,但是,我们还需要大众投资,这样,捐助才能让整个医疗行业扭转乾坤。

The potential for crowdfunding, as defined in the JOBS Act, to fundamentally change the nature of capital formation is tremendous, potentially opening up avenues to investment and borrowing that were previously only available to a small segment of the investing community, let along the general public. And one sector that could see truly revolutionary change is health care.

Greg Simon is the CEO of Poliwogg, a crowdfunding site committed to funding early-stage health care companies. Prior to working at Poliwogg, he held senior positions in both houses of congress, acted as a strategy consultant to tech CEOs, and co-founded a patient advocacy non-profit. He talked about how the JOBS Act, crowdfunding, and Poliwogg could bring a new class of investors to the health care industry and help fund a new generation of novel therapies in the process.

Q: You spoke some at the ROTH conference about how the JOBS Act stands to change the nature of finance in the health care industry. How do you see financing changing in health care over the next 5-10 years and what impacts do you think that's going to have on both how ordinary people access care and how investors of all types are involved in the development of different treatments?

Greg Simon: So, one of the trends that has been bad for health care is the absence of venture capital for early stage companies. We have the NIH and foundations for very early stage companies and early ideas, and then we have traditional venture capital and institutional capital once a company is near the market. But in between, getting started, we lose thousands of companies not because their ideas fail but because their network doesn't have the ability to connect them to venture capital or growth capital.

With the advent of the JOBS act, we've now unlocked the investment process for millions of people. Right now, only 3 % of the 8 million accredited investors in America have ever invested in a private company. So if you think about the other 97 percent, what has kept them out of investing in private companies including health?

Well, it's been very expensive because health care companies need a lot of money and before the JOBS act they could only have a certain number of investors. So it made every investor give them a whole lot of money which kept a whole lot of people out of the game because they couldn't afford to diversify with those levels for minimum investments.

Before the JOBS act, you also could not generally advertise that you're raising money for a private company. So if you're raising money for a company that's working on a treatment for Parkinson's disease, you can't tell anyone unless you know they're wealthy enough. That means you have to go to investors one at a time, and that's a very lousy way to raise money. We wouldn't be able to sell many cars if we had to sell them that way.

Now, all of a sudden, the amount of money you need to have to invest in a private company, even if you're accredited, has dropped enough so that people can get a diversified portfolio of private companies for far less money than you used to need.

And now they can find out about the companies, too. In the health sector, people often didn't know what was going on out there unless they were professional health investors because nobody could tell them what was going on unless they already knew them personally. And that's a lousy way to raise money.

So now you can tell the world what you're doing and people can invest with far less money, which means we're going to bring millions more people into capital formation. And the area that's going to help the most is health care, because health care is an area that has huge capital needs. It's the largest sector of the economy, it's the fastest-growing sector of the economy, and it's a 100 percent market. Everybody uses health care, everybody pays for health care, and everybody is going to need health care.

And we're not going to budget our way out of our current problems, we're going to invest our way out of them by turning health from a cost to an asset. So instead of thinking of health as a constant drain on your pocket book, people will now realize "Hey, I have diabetes. I can own my disease, my disease doesn't own me. I can go out and invest in a portfolio of companies that are working to lower the cost of treating diabetes and improve the outcome. And if it works, I get better treatment and I make money."

In every other sector of the economy, people have those kinds of options of investing in your future. Through indexes, through options, through venture capital, through the futures market. Health has not done this before. So with the advent of the JOBS act and the kinds of products Poliwogg is making, people have the opportunity now to put their money where their heart is in terms of their health interest. They can invest in the companies that are investing in them, that are trying to create new therapies for them but need a lot more money than the venture capital industry is willing to provide.

Now, the venture capital people will tell you "90 percent of our investments fail, therefore we're investing in too many companies." Well, that's ridiculous, it's the other way around. If you're a baseball player in a slump, you don't want fewer at bats. You want more at bats. If you're having a 95 percent failure rate, you need to invest in more companies and have the 5 percent be a bigger number, not the total be a smaller number.

So that's why I think, with the JOBS act and with the kind of innovations that Poliwogg is bringing to the market, the individual accredited investor is going to have far more opportunities to invest in the health care industry. And with some of the other innovations Poliwogg is bringing, like public venture funds, the average investor is going to be able to invest in what they care about in a diversified way for a low amount of capital, and that is going to draw a lot of people and money into the sector.

Q: Do you see crowdfunding and crowdfinance being an active part of the sector in the near- or long-term future? Given the relative success of non-profit organizations in raising money for medical research over the years, do you envision appealing to the public for financing could become a viable strategy for for-profit health care companies in the future?

Greg Simon: Well, there's two different types of crowdfunding. There's donation, which a lot of people are doing and that is classic charitable giving just in an online version. But all that does is create more people with better ideas. Then all you end up with are more failures of people who can't get money to build a company. So we have to combine the interest of Americans for donating to health causes with interest in investing in the companies that come out of those donations.

That's why Poliwogg is partnering with foundations: we have to be able to fill the valley of death with investment capital. We're partnering with the Epilepsy Foundation because they have looked at companies and helped companies that they think offer the best help for treating epilepsy. But they also realize that those companies are going to need more private capital than their donors can provide. So we work with them to find the best companies, and then we will work with them to market those investments to their donors as well as to the rest of the world so that we can bring more private capital into these companies.

Poliwogg is in the business of raising $2 to $10 million per company. So that means $15-20,000 per investor as compared to $200-500,000 per investor for traditional biotech investments. But the thing about crowd equity, which is what Poliwogg does, is it allows far more people to be involved. It's still a significant amount of money, $20,000 is still real money where I come from, but it's not $200,000.

By appealing to the 97 percent of accredited investors who've never made a private investment, you're able to bring in a lot more people into the game, which we think will lead to a lot more of these companies being able to at least test their ideas so we can find out if they will work or not. So the crowd donation is an important phenomenon, but we've gotta have crowd investment so that the donations will make a difference.


用微信扫描可以分享至好友和朋友圈

扫描二维码或搜索微信号“iweiyangx”
关注未央网官方微信公众号,获取互联网金融领域前沿资讯。

发表评论

发表评论

您的评论提交后会进行审核,审核通过的留言会展示在下方留言区域,请耐心等待。

评论

您的个人信息不会被公开,请放心填写! 标记为的是必填项

取消

10月众筹月报:15家平台倒闭 投资人次降7.3%

佚名 | 盈灿咨询 11-12

2017年10月中国众筹行业月报

众筹家 11-03

2017年9月中国众筹行业月报

众筹家 10-10

深化内涵、拓展外延、联通生活:众筹的新风口之变

孟永辉 10-01

深化内涵、拓展外延、联通生活:众筹的新风口之变

孟永辉 09-30

版权所有 © 清华大学五道口金融学院互联网金融实验室 | 京ICP备17044750号-1