Healthcare Startup Community Guide for the UK

Identify and Engage Key Stakeholders for Effective Healthcare Collaboration

Form Strategic Alliances with Government Entities and the NHS

Establishing productive collaborations with government bodies and the NHS is vital for healthcare startups aiming to secure essential support, funding, and resources. These partnerships unlock invaluable access to various funding opportunities, regulatory guidance, and influential networks that can significantly enhance a startup’s potential for success. The UK government has launched several key programmes designed to stimulate healthcare innovation. Notable initiatives include:

• The Digital Health Technology Catalyst, which champions the development of cutting-edge technologies tailored specifically for the NHS.
• The NHS Innovation Accelerator, aimed at scaling up high-potential innovations within the NHS framework.
• The Small Business Research Initiative (SBRI), which provides funding for projects that address significant public sector challenges.
• The Health and Life Sciences Sector Deal, which focuses on driving increased investment in health tech.

By aligning strategically with these initiatives, startups can greatly enhance their positioning within the healthcare landscape, ensuring they benefit from ongoing support and resources that facilitate growth, innovation, and sustainability.

Leverage Partnerships with Academic and Research Institutions for Innovation

Engaging with universities and research centres is essential for healthcare startups that wish to harness cutting-edge expertise and resources in healthcare innovation. Prestigious UK institutions such as Imperial College London and the University of Cambridge have established dedicated innovation hubs and research initiatives, providing invaluable insights and collaborative opportunities for emerging startups.

Collaborating with these academic institutions can yield significant benefits, including:

• Access to state-of-the-art research and development facilities that can accelerate innovation.
• Opportunities for conducting clinical trials and validating new healthcare solutions.
• Collaboration on grants and joint projects that can enhance funding prospects.
• Networking opportunities with thought leaders and researchers in the healthcare sector, fostering knowledge exchange.

Such partnerships can significantly expedite the development of new healthcare solutions, ensuring they are grounded in rigorous scientific research and evidence, thereby enhancing credibility and effectiveness in the market.

Engage the Private Sector for Investment and Sustainable Growth

Collaborating with private companies is crucial for healthcare startups seeking to secure essential funding and explore various business development opportunities. The UK private sector is increasingly keen to invest in health tech innovations, especially as the demand for enhanced healthcare solutions continues to rise in response to evolving patient needs.

Key strategies for effective engagement with the private sector include:

• Participating in industry conferences to showcase innovative solutions and network with potential investors.
• Building robust relationships with corporate partners for collaborative pilot projects.
• Exploring joint ventures that provide additional resources and expertise, facilitating growth.
• Establishing advisory boards composed of industry leaders who can offer strategic guidance.

By nurturing these vital relationships, startups can significantly enhance their visibility and attract critical investments necessary for growth and sustainability in the competitive healthcare landscape.

Collaborate with Community and Patient Advocacy Groups for Insight

Partnering with community and patient advocacy groups is essential for understanding patient needs and garnering grassroots support for healthcare startups. These groups possess valuable insights into patient experiences and can assist startups in tailoring their solutions to better address real-world health challenges.

To forge effective partnerships, healthcare startups should:

• Engage in open dialogue with advocacy groups to discern patient priorities and expectations.
• Involve community members in the development process to ensure relevance and positive impact.
• Leverage advocacy networks to enhance outreach and awareness efforts regarding their solutions.
• Offer educational workshops to empower community members with knowledge about innovative healthcare solutions.

Such partnerships not only enhance the credibility of startups but also ensure their solutions are patient-centric and effectively address genuine health challenges faced by the community, leading to improved outcomes and satisfaction.

What Expert Insights Can Help Build a Thriving Healthcare Startup Community?

Examine Real-World Success Stories from Prominent UK Healthcare Startups

Analysing successful UK healthcare startups unveils effective strategies for community building and engagement. For instance, startups like Babylon Health and Zava have thrived by actively engaging with their communities and establishing strong trust. These companies have developed comprehensive platforms that not only deliver innovative healthcare solutions but also foster user engagement and active participation.

Key success factors from these examples include:

• Utilising technology to enhance user interaction and feedback mechanisms, promoting continuous improvement.
• Providing valuable content and resources to educate and engage the community effectively.
• Creating referral and loyalty programmes to encourage user participation and foster retention.
• Incorporating robust support systems to promptly address user queries and concerns, enhancing user experience.

These strategies illustrate that a strong community presence can result in sustained growth and enhanced user loyalty in the increasingly competitive healthcare market, ultimately benefiting both startups and patients alike.

Offer Expert Analysis on Navigating Complex Regulatory Challenges

Navigating the complex regulatory landscape is vital for healthcare startups in the UK. The intricacies of healthcare regulations can be daunting; however, a thorough understanding is essential for long-term success. Startups must comply with numerous regulations, including those established by the Care Quality Commission (CQC) and the Medicines and Healthcare products Regulatory Agency (MHRA).

To successfully navigate these challenges, healthcare startups should:

• Stay informed about regulatory changes and updates that impact their operations and compliance.
• Engage legal experts who are well-versed in healthcare regulations to provide tailored advice.
• Develop compliance checklists to ensure all products meet necessary standards and requirements.
• Adopt a proactive approach in preparing for audits and inspections, reducing potential risks.

By prioritising regulatory compliance, startups can minimise risks and enhance their credibility within the healthcare sector, ultimately leading to greater trust from users and partners alike, which is essential for long-term success.

Provide Actionable Steps for Engaging with Healthcare Communities

Fostering a vibrant healthcare startup community in the UK necessitates strategic actions and initiatives aimed at building relationships, sharing knowledge, and creating platforms that facilitate collaboration among various stakeholders.

Actionable steps for community engagement include:

• Hosting regular workshops and training sessions to share insights and trends in healthcare innovation.
• Creating mentorship programmes that connect experienced professionals with aspiring entrepreneurs in the field.
• Establishing online forums and social media groups to facilitate dynamic discussions and knowledge sharing.
• Encouraging open feedback loops to better understand community needs and preferences, ensuring relevance.

These actions will not only strengthen community ties but also create an environment conducive to innovation and sustained growth within the healthcare sector, ultimately benefiting all involved.

What Are the Benefits of a Robust Healthcare Startup Ecosystem?

Enhancing Patient Outcomes Through Innovative Solutions

A flourishing healthcare startup community can profoundly impact patient care and health outcomes. Startups often innovate in ways that directly address patient needs, leading to improved healthcare delivery models and novel treatment options that enhance overall health and wellbeing.

For instance, telemedicine startups have revolutionised access to healthcare, enabling patients to consult with professionals from the comfort of their homes. This increased accessibility has been especially advantageous for individuals with mobility challenges or those residing in remote locations. A strong ecosystem encourages collaboration among startups, resulting in:

• Accelerated development of patient-centric solutions that truly meet the needs of patients.
• Increased accessibility to vital healthcare services, thereby improving overall public health.
• Enhanced patient engagement in their own care processes, leading to better adherence and outcomes.
• Improved health literacy across diverse patient populations, empowering individuals to make informed decisions.

By fostering innovation through collaboration, healthcare startup ecosystems can lead to significantly improved health outcomes across various demographics, ultimately transforming the healthcare landscape.

Driving Economic Growth and Job Creation in the Healthcare Sector

Healthcare startups play a crucial role in bolstering the UK economy by creating jobs and attracting substantial investment. The health tech sector is witnessing robust growth, presenting numerous opportunities for skilled professionals, entrepreneurs, and innovative thinkers alike.

The advantages of a thriving healthcare startup ecosystem include:

• Job creation across various sectors, including technology, healthcare, and marketing, contributing to economic stability.
• Attracting foreign investment and expertise to the UK market, enhancing competitiveness.
• Development of new industries and services that address evolving healthcare needs, driving innovation.
• Enhancing the competitiveness of the UK healthcare sector on a global stage, positioning it as a leader in health tech.

These economic contributions highlight the necessity of nurturing healthcare startups within the ecosystem to ensure long-term growth and sustainability, ultimately benefiting society as a whole.

How Can Startups Propel Healthcare Innovation Forward?

Startups are uniquely positioned to spearhead innovation within the UK healthcare sector. Their agility and openness to embracing new ideas enable them to address gaps in the current system more effectively than larger, more established entities, fostering a culture of creativity and progress.

Startups can drive innovation by:

• Identifying unmet needs in patient care and developing tailored solutions that enhance the patient experience.
• Leveraging advanced technologies such as artificial intelligence and big data to enhance healthcare delivery and operational efficiency.
• Collaborating with healthcare providers to pilot new solutions and gather real-world feedback for continuous improvement.
• Involving patients in the design process to ensure solutions are user-friendly and effective in meeting their needs.

By cultivating a culture of innovation, healthcare startups can lead the transformation of the UK healthcare landscape, ultimately improving patient care, outcomes, and public health.

Establish Networking and Collaboration Platforms for Startups

Organise Regular Meetups and Conferences for Networking Opportunities

Hosting events that gather healthcare startups, investors, and industry experts can significantly boost collaboration within the sector. Such gatherings create opportunities for networking, knowledge sharing, and nurturing partnerships that can result in innovative solutions and advancements in healthcare.

To effectively organise these events, healthcare startups should:

• Identify relevant themes that resonate with current industry trends and challenges faced by startups.
• Invite speakers who are recognised thought leaders in healthcare innovation to share their insights.
• Create interactive sessions that promote engagement and discussion among participants, facilitating knowledge exchange.
• Utilise event platforms that facilitate virtual participation to broaden audience reach and engagement.

Regular meetups and conferences can serve as catalysts for collaboration, ultimately enhancing the healthcare startup ecosystem in the UK and fostering a culture of innovation and creativity that benefits all participants.

Develop Effective Online Community Forums for Collaboration

Creating digital spaces for healthcare startups to connect, share resources, and collaborate on projects is essential for cultivating a supportive community. Online forums facilitate discussions and enable startups to learn from one another, transcending geographical barriers and fostering a diverse network of innovators.

Key strategies for developing effective online community forums include:

• Selecting a user-friendly platform that encourages active participation and interaction among members.
• Moderating discussions to ensure a respectful and productive environment that fosters inclusivity.
• Encouraging knowledge sharing and resource exchange among forum members to enhance collective learning.
• Organising themed discussions or Q&A sessions to address specific challenges facing the community, promoting focused dialogue.

By nurturing these online communities, healthcare startups can create a vibrant environment for collaboration, knowledge sharing, and growth that ultimately contributes to the overall development of the sector.

What Are the Best Practices for Facilitating Collaboration Among Healthcare Startups?

Encouraging collaboration among healthcare startups in the UK necessitates strategic efforts and a commitment to fostering open communication and mutual support. Best practices for facilitating collaboration include:

• Establishing clear objectives for collaborative efforts to ensure alignment and shared goals among participants.
• Promoting a culture of trust and transparency to strengthen partnerships and encourage open dialogue.
• Utilising technology to streamline collaboration efforts, such as project management tools and communication platforms.
• Encouraging regular check-ins and feedback sessions to assess progress and address challenges collaboratively.

Implementing such practices not only enhances collaboration but also ensures that partnerships remain productive and focused on achieving shared goals, driving innovation forward in the healthcare sector.

Secure Funding and Investment Opportunities for Healthcare Startups

Identify Available Government Grants and Subsidies for Healthcare Innovators

Conducting thorough research into available government funding options specifically aimed at healthcare startups in the UK is crucial for achieving financial sustainability and fostering innovation. The government offers several grants and subsidies designed to stimulate innovation in the healthcare sector and support emerging ventures.

Key funding opportunities include:

• The Innovate UK Smart Grants, which support feasibility studies and innovative research projects that can drive significant advancements.
• Funding from the National Institute for Health Research (NIHR) for health-related research initiatives that align with national health priorities.
• Local Enterprise Partnerships (LEPs) that provide regional funding opportunities tailored to local needs.
• The European Regional Development Fund (ERDF), which supports innovation projects in healthcare and facilitates cross-border collaborations.

By identifying and applying for these grants, healthcare startups can secure crucial funding to support their growth and development, ensuring they remain competitive in the ever-evolving health tech landscape while driving innovation and improving patient outcomes.

Build Connections with Venture Capitalists and Angel Investors for Growth

Cultivating relationships with investors who are interested in healthcare innovation and startups is paramount for securing essential funding. Venture capitalists and angel investors typically seek promising startups that demonstrate significant potential for growth and profitability in the health tech sector.

To effectively connect with investors, healthcare startups should:

• Develop a compelling pitch that clearly articulates the value proposition of their innovation and its impact on healthcare.
• Participate in pitch events and investor showcases to gain visibility and exposure to potential funders.
• Leverage networking opportunities to establish personal connections with potential investors, enhancing credibility.
• Maintain a strong online presence that highlights key achievements, traction, and milestones, demonstrating progress.

These strategies can enhance visibility and attract investment to support the startup’s growth trajectory, enabling them to scale effectively and positively impact the healthcare landscape.

How Can Startups Attract Investment in the Healthcare Sector?

Attracting investment in the healthcare sector requires strategic planning and a clear demonstration of value to potential investors. Healthcare startups should focus on:

• Building a robust business model that outlines revenue generation and sustainability, showcasing long-term viability.
• Demonstrating scalability by providing data on market demand, growth potential, and competitive advantage.
• Establishing credibility through partnerships with reputable organisations and industry leaders that enhance trust.
• Offering transparent reporting on progress, financial projections, and key milestones, ensuring investor confidence.

By presenting a compelling case to potential investors, healthcare startups can significantly increase their chances of securing the necessary funding for their initiatives, thereby enhancing their growth and impact in the sector while driving innovation forward.

Implement Trusted Strategies for Building a Healthcare Startup Community

Highlight Successful Community-Building Strategies from Real-World Examples

Showcasing successful strategies employed by UK healthcare startup communities can provide invaluable insights for emerging ventures. For instance, the MedTech Innovator programme has effectively fostered collaboration among startups by offering mentorship, training, and funding opportunities that accelerate innovation.

Key strategies identified from these examples include:

• Creating structured mentorship programmes that connect experienced professionals with startups for guidance.
• Providing networking opportunities with industry leaders to facilitate knowledge sharing and collaboration.
• Leveraging social media platforms for community engagement and outreach efforts to reach a broader audience.
• Developing collaborative projects that encourage teamwork among startups, enhancing collective impact.

Implementing these strategies can significantly enhance community ties and support the growth and sustainability of healthcare startups, fostering an ecosystem that thrives on innovation, collaboration, and mutual support.

Offer Expert Analysis on the Importance of Mentorship in Healthcare Startups

Mentorship plays an essential role in bolstering the growth of healthcare startups in the UK. Experienced mentors can provide invaluable insights, guidance, and connections that help startups navigate the complexities of the healthcare landscape effectively, paving the way for success.

The importance of mentorship encompasses:

• Offering tailored advice based on real-world experiences within the healthcare sector, enhancing decision-making.
• Facilitating introductions to potential investors and strategic partners that can accelerate growth and opportunities.
• Providing emotional support during challenging phases of the startup journey, fostering resilience.
• Assisting startups in refining their business models and strategic approaches for sustained success.

By cultivating a robust mentorship culture, healthcare startups can enhance their chances of success and sustainability in the competitive landscape, ultimately leading to improved patient care and outcomes through innovative solutions.

Provide Actionable Steps for Creating a Supportive Startup Ecosystem

Building a nurturing environment for healthcare startups in the UK necessitates strategic actions and collaboration among all stakeholders, including investors, mentors, and industry experts. Actionable steps to consider include:

• Establishing incubators and accelerators that provide essential resources, mentorship, and funding to support new ventures.
• Creating networking events that facilitate connections among startups, investors, and industry experts, fostering collaboration.
• Encouraging partnerships between startups and established healthcare organisations to leverage existing infrastructures and expertise.
• Promoting initiatives that focus on diversity and inclusion within the startup community to foster innovation and broaden perspectives.

These steps will help create a supportive ecosystem that nurtures the growth and success of healthcare startups, ultimately benefiting patients and the healthcare sector as a whole by driving innovation and improving care delivery.

How Can Education and Training Programs Support Healthcare Startups?

Develop Tailored Workshops and Seminars for Skill Development

Creating educational programmes that address the specific needs of healthcare startups in the UK is vital for fostering growth, innovation, and operational excellence. Workshops and seminars can equip entrepreneurs with the essential skills and knowledge required to navigate the healthcare landscape successfully while enhancing their capabilities.

Key elements of effective workshops include:

• Identifying current challenges and trends within the healthcare sector to address relevant and timely topics.
• Inviting industry experts to share insights, best practices, and real-world experiences from their careers.
• Encouraging interactive sessions where participants can share experiences and challenges they face, facilitating peer learning.
• Providing resources and materials that attendees can refer to after the event for continued learning and development.

Tailored educational initiatives empower startups to make informed decisions and enhance their operational capabilities, thereby increasing their chances of success in the competitive healthcare market while fostering a culture of continuous learning and improvement.

Partner with Universities to Create Internship Programs for Emerging Talent

Collaborating with academic institutions to offer hands-on experiences for students within healthcare startups can yield reciprocal benefits for both parties. Internship programmes connect students with real-world applications while providing startups with fresh perspectives, enthusiasm, and talent that can drive innovation.

To establish effective partnerships, healthcare startups should:

• Identify universities with strong healthcare and business programmes that align with their needs and objectives.
• Develop internship roles that correspond to the startup’s objectives and operational requirements, ensuring mutual benefit.
• Offer mentorship and guidance to interns to facilitate their learning experience and integration into the workplace.
• Evaluate and refine internship programmes based on feedback from participants to ensure effectiveness and relevance.

These collaborations promote talent development and foster innovation within the healthcare startup ecosystem, ultimately contributing to the sector’s growth and advancement while providing students with valuable experience.

What Are the Key Skills Required for Success in Healthcare Startups?

Identifying essential skills that healthcare startup founders and employees should possess in the UK context is crucial for achieving success and driving innovation. Key skills include:

• A robust understanding of healthcare regulations and compliance frameworks to navigate the regulatory landscape.
• Technical skills pertinent to the specific healthcare innovation being pursued, enhancing product development.
• Business acumen, encompassing financial management, strategic planning, and market analysis.
• Effective communication skills for engaging with stakeholders, users, and potential investors to build relationships.

Developing these skills within the startup team can significantly enhance the chances of success and sustainability in the competitive healthcare sector, fostering a culture of excellence, collaboration, and innovation that benefits all stakeholders.

Measure and Evaluate the Impact of the Healthcare Startup Community

Establish Key Performance Indicators for Success Assessment

Defining metrics to assess the success and impact of the healthcare startup community in the UK is essential for continuous improvement and strategic planning. Establishing key performance indicators (KPIs) can provide invaluable insights into the effectiveness of community-building efforts and initiatives.

Important KPIs to consider include:

• The number of startups actively engaged in community activities and initiatives, reflecting participation levels.
• Investment secured by startups within the community, showcasing financial support and viability.
• Patient outcomes and satisfaction metrics related to innovations developed by community members, indicating effectiveness.
• Growth in employment opportunities within the healthcare startup sector, highlighting economic contributions.

By establishing these metrics, healthcare startups can effectively evaluate their impact and make informed decisions for future initiatives, ensuring ongoing relevance and success in their efforts to drive innovation and improve patient care.

Conduct Regular Surveys and Feedback Sessions for Continuous Improvement

Gathering input from community members to identify areas for improvement and growth is vital for maintaining the health of the healthcare startup ecosystem. Regular surveys and feedback sessions can yield insights into the needs and preferences of community members, informing strategic decisions.

Effective approaches to gathering feedback include:

• Implementing anonymous surveys to encourage open and honest responses from participants.
• Holding focus group discussions to delve deeper into specific issues or concerns raised by community members.
• Utilising digital platforms for quick and efficient feedback collection, enhancing accessibility.
• Incorporating feedback into decision-making processes to enhance community initiatives and support.

Regularly assessing community sentiment can help foster a responsive and adaptive healthcare startup ecosystem, ultimately leading to continuous improvement and growth that benefits all stakeholders involved.

How Can the Community Adapt and Improve Continuously?

Strategies for the healthcare startup community to evolve and meet changing needs in the UK include embracing innovation and fostering a culture of continuous improvement. Key approaches to consider include:

• Encouraging startups to share both successes and failures to promote collective learning and resilience.
• Utilising data analytics to identify emerging trends and specific community needs, informing strategic planning.
• Facilitating regular community meetings to discuss progress and areas for further development, enhancing collaboration.
• Implementing new technologies that can enhance collaboration and communication across the community, fostering connectivity.

These strategies will ensure that the healthcare startup community remains dynamic and responsive to the evolving healthcare landscape, ultimately driving innovation and improving patient care by fostering a culture of adaptability and collaboration.

Analyse Data to Inform Strategic Decision-Making for Growth

Utilising collected data to make informed decisions that enhance the effectiveness of the healthcare startup community is crucial for sustainable growth and progress. Data analytics can provide pivotal insights into trends, challenges, and successes within the community, guiding future initiatives.

Key steps for effective data analysis include:

• Collecting relevant data from community activities and member participation metrics to inform decision-making.
• Utilising analytical tools to interpret data and identify actionable patterns that can drive improvement.
• Regularly reviewing data to inform strategic planning and community initiatives, ensuring alignment with goals.
• Sharing insights with community members to encourage transparency and collaborative efforts toward shared objectives.

Data-driven decision-making can significantly enhance the effectiveness and impact of the healthcare startup community, facilitating informed strategies that drive growth, innovation, and improved patient care outcomes.

Report Impact to Stakeholders Clearly and Effectively

Communicating the community’s achievements and areas of impact to stakeholders is essential for maintaining transparency and securing support for ongoing development. Regular reporting fosters accountability and builds trust among community members and partners, enhancing collaboration.

Effective reporting practices include:

• Creating clear and concise reports that highlight key achievements and challenges faced by the community.
• Utilising visual aids to present data and insights in an accessible and engaging format that enhances understanding.
• Engaging stakeholders in discussions about future goals and strategies to enhance collaboration and alignment.
• Celebrating successes and recognising contributions from community members to foster a sense of belonging and motivation.

By maintaining open lines of communication, the healthcare startup community can build stronger relationships and secure ongoing support for its initiatives, ultimately enhancing the overall impact on patient care and healthcare delivery.

FAQs About Healthcare Startup Communities

What is the structure of a healthcare startup community?

A healthcare startup community comprises a network of organisations, entrepreneurs, and professionals devoted to developing innovative solutions within the healthcare sector. It fosters collaboration, knowledge sharing, and mutual support among its members to drive innovation and improve patient outcomes.

How can I become involved in a healthcare startup community?

To engage with a healthcare startup community, consider attending local meetups, participating in online forums, and connecting with startups via social media. Networking at industry events is also a valuable way to build relationships with others in the field and explore collaborative opportunities.

What are some notable successful healthcare startups in the UK?

Prominent UK healthcare startups include Babylon Health, Zava, and HealthTech Solutions. These companies have effectively leveraged technology to enhance patient care and improve healthcare delivery across diverse populations, showcasing the innovation potential within the sector.

What challenges do healthcare startups typically encounter?

Healthcare startups often grapple with regulatory hurdles, securing funding, and facing competition from established companies. Navigating these challenges necessitates adaptability, strategic planning, and a strong comprehension of the healthcare landscape, ensuring startups can thrive in a competitive environment.

How crucial is mentorship for healthcare startups?

Mentorship is critical for healthcare startups as it provides essential guidance, industry insights, and networking opportunities. Experienced mentors can help new founders avoid common pitfalls and accelerate their growth trajectory, enhancing their chances of success and sustainability in the dynamic healthcare sector.

What role do partnerships play in advancing healthcare innovation?

Partnerships are vital to healthcare innovation, enabling collaboration, resource sharing, and access to expertise. Successful partnerships can lead to more robust solutions and expedite product development, ultimately improving patient care and enhancing the overall effectiveness of the healthcare system.

How can I secure funding for my healthcare startup?

To secure funding, concentrate on developing a strong business model, networking with potential investors, and applying for relevant grants. Clearly demonstrating traction and a compelling value proposition is essential to attract investment and support while ensuring long-term viability.

What skills are essential for healthcare startup founders to succeed?

Essential skills encompass business acumen, a thorough understanding of healthcare regulations, technical expertise relevant to healthcare innovations, and strong communication skills for effectively engaging stakeholders, users, and potential investors to drive growth and success.

How can healthcare startups measure their community impact?

Healthcare startups can measure their impact by establishing key performance indicators (KPIs), conducting surveys, and analysing data to assess outcomes and gauge community engagement effectively, ensuring ongoing relevance and effectiveness in their initiatives.

What does the future hold for healthcare startups in the UK?

The future of healthcare startups in the UK appears promising, as the demand for innovative solutions continues to grow. Advances in technology and increased investment are likely to drive further innovation and expansion within the sector, positioning the UK as a leader in health tech.

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