Today we speak with Paul van Ooik, a seed and early-stage investor at Nextgen Ventures. Paul supports ambitious European companies tackling global healthcare challenges with cutting-edge medical technology and digital health solutions. As an early investor, Nextgen not only provides capital but also strategic guidance and access to a vast healthcare network.
Passionate about building strong relationships, Paul seeks out driven founders aiming to reshape healthcare and solve unmet needs. His approach goes beyond funding, focusing on fostering meaningful partnerships to help startups make a lasting impact.
Tell us more about yourself
Paul : I’m an seed capital and early-stage investor at Nextgen Ventures. With the funds we support ambitious European companies that are eager to tackle global healthcare challenges with the latest medical technology and digital health solutions that solve unmet medical needs. Often we are the first investment fund that invests, providing not just venture capital but also dedicated support leveraging our extensive network.
Based on your experience what are some of the frequent mistakes that startups make in their first steps?
Paul : It’s important to really understand the problems potential customers are facing and what actually drives their business decisions. Instead of leaning on broad trends — like the common 'healthcare staffing shortage' trend — rather be specific and select a specific target group. A paid pilot or partnership can create evidence that customers are truly willing to invest their time and money. As a startup, you want to know if your solution is hitting the mark right from the start. It is also key to keep revisiting and adjusting your targets so they align with current market expectations and give you the best shot on new investment. Markets shift, investor appetites change, and by the time you’re ready to raise more funds, you don’t want to be in the position that milestones you’ve been working toward don’t resonate anymore.
Which sections of the pitch deck do you pay more attention to?
Paul : This actually depends on the company’s its activities and the phase it is operating in. For instance, with seed-stage startups developing medical devices, I pay close attention to clinical trial data and where their solution fits within the competitive landscape. For early-stage medical software startups, I’m more focused on whether they have the potential for a defendable market position and can scale quickly, often through partnerships or addressing an urgent problem. In reviewing pitches, I also reach out to experts in our network to get their insights on the specific challenges the startup faces. That outside perspective helps quickly gauge the hurdles and opportunities ahead. No matter the specifics, though, we always appreciate highly motivated, well-qualified founders who can clearly articulate the business rationale for their end-users or payers. At the end of the day, it's them who drive the business forward.
What is the most interesting aspect of your job?
Paul : I’d say this is meeting and learning from inspiring founders and experts. Not only is it great to see new solutions for existing or emerging challenges evolve. Also, the new knowledge we gain through these interactions allow us to get a good understanding of the key aspects of a business. Jointly, with our network, we leverage the insights to help founders and form our own opinion. To illustrate, Pieter Smakman (founder of Manometric that creates the new standard for orthoses and prosthetics by 3D printing and scanning technology) says Nextgen Ventures “didn’t just invest money — they are actively helping us to make strategic decisions and to grow everyday” (read article).
Is there a trend that you have observed in the recent years in terms of the direction the startups choose to take?
Paul : One trend I've noticed in recent years is that healthcare institutions tend to put off addressing anything that isn’t a ‘hair-on-fire’ problem. And often, those urgent issues are tied to the ongoing shortage of personnel. The strongest healthcare startups understand this and operate very lean for extended periods. They recognize that, in a crowded space with hundreds of startups competing for attention, it takes time to be seen as a credible solution. Decision-making processes are slow, so smart teams know they have to stay patient and make time their ally.
What are the top 3 traits that startups should have to be more appealing to investors?
Paul : In our experience, the most important trait is the team. Founders need the right mindset, network, experience, and expertise to drive the company forward. As one founder lately told me, "Building a business is 1% shine and 99% hard work." While this – for some – might be a hard truth, it captures the dedication and resilience required to build a successful company. Alongside a strong team, well-validated technology is essential for business growth. Simply put, “If the kitchen isn’t clean, the food won’t taste as good.” Technology that works reliably and meets user needs is more likely to gain loyal, enthusiastic customers. For investors, validated technology reduces risk by requiring less R&D funding and providing a clearer path to profitability, ultimately strengthening the potential for returns .Another top trait is the ability to scale fast towards value inflection points, as this is one of the key aspects to make the venture capital business model work. The required speed can result from multiple of sources. It could be that a company has the right partnerships that allows for rapid distribution. But also, more fundamental, the right health economics are required. In healthcare, a wide variety of stakeholders is present. Not only the end-user is to benefit, but also providers and insurers. The adoption of technology requires thus alignment across all stakeholders.
Do you have any piece of advice for startups that are trying to navigate the current environment and present themselves?
Paul : Given today’s funding environment, where securing investment has become more challenging than it was a few years ago, my advice is to be strategic when you reach out. Carefully choose which investors you will reach out to and keep in mind that not all investors will immediately understand the full extent of the research and effort you’ve put into your work, especially in a brief introduction. Tailor each presentation with the investor’s perspective in mind, focusing on the topics and concerns most relevant to them. Rather than delivering a pitch, aim to create a collaborative dialogue. This approach engages investors, making them feel more involved, and often guides the conversation toward critical areas of interest.
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