Investors and leadership from tech and startup companies are stepping up during the coronavirus pandemic by funding treatment and vaccine research, manufacturing protective gear for healthcare workers, and distributing essential goods and/or services.
As the healthcare system is strained by effects of COVID-19, production, distribution, and funding channels are all experiencing major disruptions. Help is coming from Silicon Valley where startups thrive on flexibility, eager investors, and a willingness to create change.
Startups are fast-moving and able to make production changes where larger companies lag. Their contributions can help make all the difference when time is precious in terms of saving lives. Logistics startup, Flexport is collecting donations to help cover shipping and sourcing costs for essential medical supplies in San Francisco. Other companies with 3D printing capabilities are producing ventilator parts, medical face shields, and respirator valves. Materialise is one such company creating 3D printed hands-free door openers.
Lux Capital partner Bilal Zubari commented on the incredible effort in the tech sector. “I’m amazed to see people wanting to help even when they have their own internal worries to deal with.”
However, these companies are asked to balance worker safety with operating outside of areas of expertise. One solution is to seek guidance from experts to avoid overestimating company engineering capabilities. Sam Altman, the chief executive of Open AI, is communicating with health experts for advice as he funds nonprofits and companies developing virus treatments.
Other industry executives think the best use of startup resources is to stick to what they know by repurposing their own products to effectively respond to the pandemic. Flexport’s supply chain efforts are one such example pointed out by startup executive James Birch. Enthusiasm and determination are needed from all industrial sectors in a time of crisis—smart leadership can create the positive impact we need.
Staff Writer, Allison Yano is an artist and writer based in LA. She holds a BFA in Applied Visual Arts and Minor in Writing from Oregon State University, and an MFA in Fine Art from Pratt Institute. Her waking hours are filled with an insatiable love of storytelling, science, and soy lattes.
Pingback: Augmented reality start up shifts focus to handle new COVID-19 world