Last year, European healthtech companies raised $11.6bn, making it the most backed sector of 2024. And for good reason. As breakthroughs in AI, chemistry and biotech unfold at a rapid pace, the speed of healthcare innovation is ratcheting up alongside. That means theres a huge number of incredible concepts, products and tech coming down the track. Combined with the current market conditions and intensifying societal needs, todays healthtech founders have a chance to truly transform global health outcomes.As VCs, we are constantly looking for the hidden gems or untapped ideas that will go on to unlock this level of societal, global impact. When it comes to healthcare, that means seeking out founders pursuing breakthroughs that can transform patient care, tackle long-standing inequalities, spot or prevent illnesses, and empower individuals to take control of their healthcare journey. Ultimately, were looking for the innovators and innovations that will help billions of us live better, fuller lives.As the market continues its trajectory of success and impact, heres where Im currently looking for the next hidden gems of healthtech:The power of proteinsWere only just beginning to grasp the full potential of protein interactions and their impact on drug discovery, treatment efficacy, and new therapeutic possibilities. DeepMind's AlphaFold has already been a game-changer, predicting the structures of 250 million proteins and unlocking unprecedented insights into the foundation of our biology. With its work cited over 28,000 times, the ripple effects on disease prevention and drug discovery is set to be profound.Companies like A-Alpha Bio are already exploring the predictive strength of protein-to-protein binding, and I expect to see many more innovators try to leverage these insights to tackle persistent health challenges and drive the next wave of therapeutic breakthroughs. Just last week, Latent Labs, founded by former DeepMind scientist Simon Kohl, raised $40m to use AI to create new therapeutic molecules to deliver more personalised treatments just the latest sign of how much momentum is building in this space.Breaking open the biobankBanks may store wealth, but the UK Biobank stores health; its quite literally a treasure trove for potential public health breakthroughs. With its vast collection of patient information, its an incredible resource that could help tackle some of the biggest public health challenges we face today. This kind of data can be the key to developing targeted, evidence-led interventions that address the most pressing health disparities and conditions whether its tackling diseases that disproportionately affect specific groups or finding more personalised treatment options.MORE FOR YOUNightingale Health, for example, analysed blood samples from 500,000 Biobank participants, and used it to build the worlds largest blood biomarker database, enabling earlier detection and personalised treatments, and showing how the right data can drive solutions to long-standing health challenges. VCs like me are on the lookout for more founders tapping into this goldmine of data and using it to make a real difference at scale.Opportunities also lie outside of existing data sets. Well be paying close attention to companies which are able to generate or collect new unique patient data to drive insight into underserved areas of health. This data combined with public datasets can be used to develop drugs, run smaller, more targeted clinical trials, and develop decision-support tools for clinicians.Going further with GLP1s Originally introduced as a treatment for type 2 diabetes, we are now seeing evidence that GLP1s - or so-called weight loss drugs - can help address a range of health issues, from anxiety and addictive behaviors to inflammation and even slowing the progression of Parkinsons.And it feels like this is just the start. As GLP1 applications expand, Im keeping a keen eye on how they can help close the health gap for communities that have long been overlooked when it comes to breakthrough therapies and believe some exciting startups will soon start operating in this space.With the continued rise of GLP1s there are also enormous opportunities to address the side effects they cause and to improve the delivery mechanism, as well as provide the right diet and nutrition coaching to help people sustain their weight loss. After all, the challenge isnt just about losing weight, its about staying healthy in the long run.AI as an accessibility tool AI stands to be a real accessibility game-changer in healthtech. Ive seen it first-hand. Just last month I got a Doctors letter for my son that was so filled with acronyms and jargon, I felt like I needed a PhD to understand it. But I uploaded a photo of it to ChatGPT and it was able to translate that dense language into something I could actually digest. I was instantly more informed about my sons health.If I can struggle with deciphering a Doctors letter in an affluent part of the world, imagine the challenges elsewhere. Health literacy is an enormous issue across the world. Marginalised communities often face extra hurdles in making sense of medical information, and thats where AI can really level the playing field. If we get the right tools into the hands of patients, no matter their background, we could see a dramatic improvement in outcomes. This is particularly true for elder care where its even more important to involve family members in care decisions.Everyone deserves to be a proactive participant in the management of their own good health, so Im excited to see what founders can achieve in this space.Meeting mental health needsMental health, particularly among young people, is in need of some fresh thinking right now. With anxiety and depression on the rise due, in part, to the pressures of a social media-driven world, healthtech has a lot to offer. Theres often no one-size-fits-all answer when it comes to mental health, which means theres room for a lot of innovation from different companies.Mental health issues in young Asian, Black, and minority ethnic communities have risen more steeply in recent years, while these challenges have long been more pronounced among women and those in deprived areas. This makes the need for inclusive, accessible solutions even more pressing. Many underserved communities face unique mental health challenges, and tech can help fill those gaps, offering support where its lacking.Another key challenge in this sector is ensuring that we have enough mental health professionals to meet demand. As Emma Silverman, Partner at TMV, points out, over half of masters level graduates in mental health fields never obtain their practice license. This is opening the door for innovative solutions that expand the professional pipeline. One such company, Silverman notes, is Motivo Health. By facilitating the supervision hours required for licensure, Motivo helps to break down the traditional barriers that can prevent qualified graduates converting into practicing professionals.Mental health is a complex space, and were excited to see more startups making strides with sustainable solutions that will shape the years to come.Healthtech isnt about chasing the fountain of youth; its about empowering us to live healthier, longer lives. These hidden gems arent just ideas theyre breakthroughs set to reshape healthcare and drive meaningful societal change. VCs are watching closely.