They all started in a garage.
Our founder Dave Hadden is a serial entrepreneur. He has founded several successful companies in his career with Pro-ficiency being his most successful to date. After building the foundational software technology for creating simulations, Dave needed a studio to shoot the video elements of simulations. His garage was the perfect location for setting up the first Pro-ficiency studio.
By the end of 2020, there were more than 800K businesses in the US that were less than one year old. The data further shows that the largest number of new startups likely took place during the COVID year of 2021.
A study conducted by IBM Institute for Business Value (IBV) and Oxford Economics found that 90% of start-ups fail within the first five years due to the lack of innovation and unique business models. Dave has a track record of developing companies that uniquely solve problems in the healthcare segment.
According to Artem Minaev, 7.1% of the startups in the world operate in the Fintech industry. Followed by Life sciences and healthcare with 6.8%, Artificial intelligence with 5.0%, Gaming 4.7%, Adtech 3.3%, and Edtech with 2.8%. Even though there isn’t completely accurate data about industry distribution, it’s clear that modern startups gravitate towards the internet and digital technologies.
Dave’s selection of healthcare and life sciences was not by accident. He had seen the challenges first hand with inadequate, outdated approaches to preparing clinical trial investigative teams for their critical role in drug discovery. These didactic training approaches had changed little since the days of Socrates and led to protocol deviations and systemic delays. Dave’s vision was to create an immersive training experience that improved the execution of clinical trials.
Fatimah Lateef, from Singapore General Hospital, has proven that simulation is the most effective way to develop health professionals’ knowledge, skills, and attitudes, while protecting patients from unnecessary risks. He also points out in his article, Simulation-based learning: Just like the real thing, that healthcare should embrace simulation training tools just like the fields of aviation and military.
How has the Pro-ficiency simulation training approach worked in the real world? The ultimate measure of success is whether the training assisted the site staff in avoiding protocol deviations. Over 87% agreed or strongly agreed with that statement in a recent survey conducted with almost 1,500 investigators that leveraged the Pro-ficiency simulation training platform for a clinical trial.
Pro-ficiency has come a long way since that first simulation video shot in Dave’s garage. We recently opened our own full-time studio in Research Triangle Park managed by Bobby Natassi, our Emmy award-winning producer. We also now serve the simulation training needs of over 65K investigators around the world.
Much like HP, Microsoft, Google and Amazon we desire to make a meaningful, global impact. Join Pro-ficiency in helping accelerate drug discovery by eliminating protocol deviations.