In this episode of Walk the Valley, Kata talks with Zdravko Obradović, CEO and founder of Clinical Trial Bid and EBS Clinical Research, about how the Balkans are reshaping the landscape of clinical trials.Zdravko takes us from the fax-machine era to the rise of AI-driven trials, showing how automation and smart systems can cut timelines from years to months without compromising safety. He shares how Serbia offers a compelling edge (shorter approvals, stronger investigator networks, and 30–40% lower costs) backed by a story of boosting recruitment from 42 to 126 patients in just nine weeks.We also dive into his mission to make clinical research more accessible through Clinical Trial Bid, an AI-powered platform that helps startups plan, connect, and execute trials faster and smarter.The takeaway? The future of clinical research isn’t just faster, it’s fairer. When technology removes barriers, even small innovators can bring life-changing ideas to market.

Clinical Trials Bid https://ctb.health/

EBS Clinical Research https://ebscro.com/

Zdravko's LinkedIn: https://www.linkedin.com/in/zdravko-obradovic-md-813218a6/

In this episode of Walk the Valley, Will sits down with Professor Elizabeth Carlson, Head of Research and Education at Malmö University’s Department of Care Science. With a background as both a nurse and academic, Elizabeth offers a grounded yet forward-looking perspective on how healthcare is evolving.

They discuss how the pandemic reshaped healthcare education, forcing a rapid shift to digital learning, and how that momentum continues to influence care delivery today. The conversation explores the promises and limitations of AI in healthcare, the rise of decentralised care, and the challenges of balancing innovation with human connection.

Elizabeth also reflects on what healthcare might look like 50 years from now, from robotic assistance to precision health. And why, despite all the technology, relationships between caregivers and patients will always remain the heart of healthcare.

In this episode of Walk the Valley, Kata sits down with Sarah Morgan, industrial designer turned healthtech entrepreneur and founder of NanoLit Technologies. Unlike many healthtech founders who come from medical or technical backgrounds, Sarah applies design thinking to healthcare, using light to support recovery, sleep health, and quality of life in hospitals and senior care.Sarah takes us on a journey from the quantum physics of light to the practical barriers of healthcare supply chains, showing how even simple interventions like better lighting can profoundly impact patient outcomes, dementia care, and recovery environments. Along the way, she explains how design thinking - empathising with users, defining problems, prototyping, and iterating - can unlock innovation in one of the hardest industries to change.Her insights connect with the findings of the recently published Health Pays Back report from the International WELL Building Institute, which underscores the economic and health benefits of healthier environments.Whether you’re a founder, clinician, or innovator, this episode is a reminder that real healthcare impact comes from looking beyond technology, digging deep into the system, and designing solutions that people can truly adopt.

In this episode of Walk the Valley, Kata talks with Mads Vad Kristensen, a central figure in Denmark’s innovation ecosystem with a background in venture capital and university spinouts.

Mads shares hard-earned insights on why so many health tech startups get stuck in the valley of death, and what could be done differently. From the importance of building multidisciplinary teams early, to avoiding the trap of sequential development, he explains why working on R&D, regulatory, and commercialisation in parallel is key to survival.

The conversation also dives into the funding gap that leaves startups stranded between early angels and cautious VCs, and why resilient, well-prepared teams are ultimately the biggest predictor of success.

Whether you’re a founder, researcher, or part of the innovation support system, this episode offers practical wisdom on how to strengthen teams, extend runway, and increase the odds of making it to market.

DTU SkyLab - https://www.skylab.dtu.dk/

Open Entrepreneurship Program - https://open-entrepreneurship.com/about-oe/

In this episode of Walk the Valley, Tomas shares an honest and reflective conversation on what it means to lead a startup when things don’t go as planned.From dealing with the emotional toll of uncertainty to understanding the importance of early scenario planning, Tomas opens up about the unseen challenges that many founders face but rarely talk about.We explore:- How to manage emotions when the pressure mounts- Why acknowledging blind spots and asking questions early can be a strength- The role of founder alignment and scenario planning from day one- The leading causes of startup failure- How leadership must evolve as a company grows- And why the popular "fail fast" narrative may do more harm than goodWhether you’re leading a startup or thinking of launching one, this episode offers practical wisdom, emotional honesty, and valuable takeaways from someone who’s been in the middle of it.The article I mention in this episode:https://hbr.org/2007/01/becoming-the-bossMinc, the startup incubator in Malmo: https://www.minc.se/

In this episode Will talks with Julie Dalsgaard, CEO of Lifeline Robotics, a Danish MedTech startup born at the peak of the COVID-19 pandemic.

Julie shares what it was like to build a company in the middle of a global crisis, and how Lifeline Robotics navigated the difficult shift from emergency pandemic use to long-term clinical relevance. From pivoting toward general practice to operating in the grey zone between robotics and medical devices, her journey offers a grounded and honest look at the messy reality of healthcare innovation.

She also reflects on the emotional toll of leadership in uncertain times and why finding mentors and taking things one step at a time might be the most underrated survival strategy in the valley of death.

This is a must-listen for anyone building in MedTech, wondering how to lead with resilience, or trying to find clarity in the fog of innovation.

In this special episode of Walk the Valley, Will and Kata dive into one of the most overlooked - and most critical - factors in healthcare innovation: knowing your customer.Borrowing the term KYC from the financial world, we reframe it to mean something much deeper: understanding your users and customers through deliberate research and value proposition design. Because no amount of technology, funding, or hype can save a startup that's solving the wrong problem.We explore practical tools like the Value Proposition Canvas, Business Model Testing, and the Elements of Value pyramid, and walk through a 10-point checklist to pressure-test whether your offer meets real needs.If you're building a MedTech or HealthTech startup, this conversation will help you rethink how you validate ideas, design products, and build a business that customers actually want.

Links

Value proposition canvas: https://www.strategyzer.com/library/the-value-proposition-canvas

Elements of value: https://hbr.org/2016/09/the-elements-of-value

The 10-Point Value Proposition Checklist https://www.strategyzer.com/library/10-characteristics-of-great-value-propositions

1. Is it embedded in a great business model?

2. Does it focus on the most important jobs, most extreme pains, and mostessential gains?

3. Does it focus on unsatisfied jobs, unresolved pains, and unrealized gains?

4. Does it concentrate on only a few pain relievers and gain creators but doesthose extremely well?

5. Does it address functional, emotional, and social jobs al l together?

6. Does it align with how customers measure success?

7. Does it focus on jobs, pains or gains that a large number of customers have orfor which a small number are willing to pay a lot of money?

8. Does it differentiate from competition in a meaningful way?

9. Does it outperform competition substantially on at least one dimension?

10. Is it difficult to copy?

In this episode, Will is joined by Hanna Sjöström, CEO of Neola Medical, a company pioneering neonatal lung monitoring. But before stepping into the medtech world, Hanna built her career in fast-moving consumer goods, holding leadership roles at L’Oréal and Coca-Cola. Her transition from global brands to leading an early-stage medical device company is a testament to the power of adaptable leadership and strategic vision.In this episode, we explore what it takes to step in as an external CEO and drive innovation in a highly specialized, high-stakes field like neonatal care. We discuss the unique challenges of developing and commercializing medical technology, the regulatory hurdles in Europe versus the U.S., and how Neola is positioning itself for success. Finally, Hanna shares valuable lessons for founders: why commercial strategy should never be an afterthought, how to navigate the "valley of death" in medtech, and the importance of building a leadership team that balances technical, regulatory, and business expertise.

In this episode I am joined by Christian Höding, founder and CEO of Hird.io, and an expert in management consulting, strategy, and execution. Startups in healthcare often focus on securing funding, but the reality is—strategy, execution, and leadership are just as critical for survival.In this episode, we take a deep dive into turning strategy into action, exploring what works and what doesn’t when trying to navigate the challenges of healthcare innovation. We discuss how to choose the right market wisely to avoid costly missteps and ensure long-term success. A key part of this journey is building a strong team, one that can truly deliver and adapt to the demands of a competitive industry. We also examine the importance of staying connected to customers, ensuring that products genuinely meet their needs rather than just looking good on paper. And finally, we tackle one of the biggest misconceptions about success—what it actually takes to make it through the valley of death.

In this episode, I sit down with Finn Ketler, a seasoned expert in healthcare innovation and commercialization. With years of experience navigating market entry, regulation, and strategic growth, Finn has built a deep understanding of what it takes to succeed in the healthcare space.Discussions about healthcare startups often circle back to funding challenges, but there’s so much more to consider when building a medtech company. Today, we’re shifting gears to explore what really drives success - beyond securing investment. And, of course, we’ll tackle the big question: Is there really more than one valley of death, or is it all just one major challenge with different roadblocks?

Links

https://coop-med.com/

https://bii.dk/

https://innovationsfonden.dk/en

We want to acknowledge that there are some sound issues in this episode. Despite our best efforts, we weren’t able to fully resolve them. We hope they won’t be too distracting and that you’ll find the conversation valuable. Thanks for your patience and for tuning in!