The Picks and Shovels Newsletter
Picks and Shovels is Opal Venture's bi-weekly dispatch of market insights, founder resources, tech headlines, talent support, and more.
Dear Founders,
Happy belated Thanksgiving! With the end of the year right around the corner, it’s important to reflect on some of the key developments this year.
Healthcare cybersecurity has emerged as one of the most critical challenges of 2024, with attacks surging an alarming 287% compared to 2022. This unprecedented rise has created a watershed moment for the industry, prompting swift action from regulatory and business sectors. The recent introduction of the Health Care Cybersecurity and Resiliency Act signals a push towards combating these threats, marking the beginning of a more coordinated defense against cyber threats in healthcare.
Meanwhile, as AI continues its explosive growth, we're witnessing a fascinating parallel conversation about energy consumption over the past few months. The tech community's response has been remarkably innovative, with solutions ranging from practical optimizations to concepts that seem pulled from science fiction - including space-based reflectors that would beam solar energy to Earth, an idea that would have made Isaac Asimov proud.
As we look ahead, these challenges are illuminating new paths forward. The convergence of increasing security measures and innovative energy solutions is not just addressing our current needs but lighting the way toward a more resilient and sustainable future.
Yours in building,
Owen and Matt — the Opal Ventures Team
Market Trends
We’ve dug deep to provide some of the latest news in healthcare, tech, startup ecosystem, and more. Enjoy! (If you don’t have subscriptions to view, use this)
Providers will need to boost cyber defenses amid AI adoption - AI could ease labor shortages, but health systems will need to increase cybersecurity spending to manage heightened risks, according to the credit ratings agency.
Senators intro bipartisan bill to bolster healthcare cybersecurity - The Health Care Cybersecurity and Resiliency Act of 2024 would provide grants to help healthcare organizations strengthen prevention and response - and push for better coordination between HHS and CISA.
Sanofi Plans to Change Hospital Drug-Discount Program - Drugmaker looks to rein in how it gives discounts in program designed to help hospitals that serve low-income, uninsured patients.
Helpful Resources
Dig into some of our favorite founder resources - from enlightening reads to videos, podcasts, and more - expertly mined to support you as you build from folks who have been there before.
My favorite decision-making frameworks - Authored by Lenny Rachitsky
How Startups Should Think About Capital Efficiency - Authored by David Sacks
Calculating Risk - Authored by Reid Hoffman
Need Help Hiring?
Bolstering your team is key to hitting major milestones and we want to help you on that journey. Feel free to fill out the Airtable link below and we will send out the job description to our curated network!
Airtable Link - here
Opal Website Job Board - here (reach out if you want us to add anything specific 🙂)
Interested in hiring an intern? - click here
Upcoming Accelerator & Funding Opportunities
Unearth a bounty of possibilities with our curated list of accelerator programs, grant opportunities, and pitch competitions.
America’s Seed Fund SBIR & STTR Grants [Rolling Basis] - America’s Seed Fund awards non-dilutive funding to develop your technology and chart a path toward commercialization.
Founder Discounts
Strike gold with our curated collection of exclusive discounts and offers, carefully unearthed to provide you with valuable resources and tools to fuel your startup's journey to success.
Check out Startup Stack for tons of discounts including Airtable, AWS, Asana, and more!
For more niche software discounts, check out AppSumo.
Recent Funding
Dive into the latest capital infusions fueling innovation across the startup ecosystem. From seed rounds to mega-deals, stay informed on who's attracting investor attention.
Seen Health secures $22M to deliver culturally-focused healthcare services for elderly communities
Healent secures $2.51M to develop remote monitoring solutions for musculoskeletal care
Roon secures $15M to build a support platform for people navigating glioblastoma
CalmWave secures $5.25M to create AI solutions for reducing hospital alarm fatigue and improving staff retention
New Lantern secures $19M to develop AI-powered tools for streamlining radiology workflows
Opal Picks
Insights from the articles, books, and thought-provoking pieces that caught our eye this week (not just related to healthcare).
How to Cut AI’s Appetite for Electricity and Water - Artificial intelligence doesn’t have to be such a power guzzler. Here’s how to make it less hungry.
Startups Race to Make Space-Based Power a Reality - In the 1940s, science fiction novelist Isaac Asimov proposed the idea of space-based solar power, imagining space stations that could collect solar power and beam the energy to Earth.
Meta plans to build a $10B subsea cable spanning the world - Meta plans to build a new, major, fibre-optic subsea cable extending around the world — a 40,000+ kilometer project that could total more than $10 billion of investment.