This year throughout Semester 2 I am also taking part in the Co-Founders programme. I learnt some interesting facts about what makes a successful startup which looking into helped validate by business idea. So does making a successful business come down to timing, team, ideas, business model or funding? Founders of businesses were asked this question and below are the results.
From these results, timing was listed as the most important. All this information comes from a TED Talk by Bill Gross, check it out:
Bill went on to use the example of Airbnb and how timing made it a success. Airbnb came out at the height of the recession when people really needed extra money, encouraging people to rent their home to strangers. Without the recession, Airbnb may not have became such a huge success! Don’t get me wrong, execution matters a lot but timing may just matter that little bit more.
In 2010 the NHS was said to be spending £10 billion on treating diabetes. With that being said, £1 billion of that amount was spent on type 1 diabetes whilst the rest was on type 2. However, 80% of the overall cost is spent on treating complications which could be prevented through measures being put in place such as better guidance and education. Insurin provides better education and guidance as it will guide the user and tell them potential consequences of not keeping their glucose levels in range and what to do next.
Therefore YES I do think Insurin is needed, and it’s needed now before the amount of money being spent on treating the condition gets larger beyond belief and threatens to bankrupt the NHS. By 2035/36 the amount of money spent on diabetes is expected to rise to £39.8 billion and almost 4/5ths of this amount can be saved through complications being prevented as I’ve already mentioned.