Naomh McElhatton, CEO, Stimul.ai
She is listed as one of Ireland's Top 5 Entrepreneurs by the Irish Times. Naomh is a successful serial entrepreneur with a number of exits under her belt. With vast experience selling into international markets.
As CEO of Stimul.ai, an AI solution built for optimising and reducing diagnostic waiting lists. In addition, Naomh is a well-known mentor, guest speaker, STEM Ambassador, guest lecturer at Ulster University and Curator of the SheSaidClub.
What is your favourite social media platform, and why?
I actually have two. Professionally LinkedIn is my preference as it is an excellent way to engage with and build your network.
Personally, I love the content on Instagram. It allows you to see the behind the scenes of the nine to five life. But unfortunately, I spend way too much time on Instagram!
Tell us about you and your current role or area of interest.
I am the CEO of a spinout start-up from Uni College Cork - Stimul.ai. An AI Solution Built for optimising and reducing diagnostic waiting lists. I am responsible for driving the strategic planning, business development and identification of partnerships globally.
What do you like about your career or area of focus?
Ireland remains amongst the top seven nations spending the most per capita of the population on the healthcare system. Meanwhile, waiting lists in the Irish healthcare system are a constant challenge. The number of people on hospital waiting lists is growing, and the amount of time they spend waiting is also increasing.
At Stimul.ai, we are completely focused on supporting the improved delivery of health services. To be part of such an incredible team that can deliver such a transformation that has a massive positive societal impact is what excites me the most. Improving patient experiences and getting treatment plans sooner is the ultimate goal.
What is the best advice you have ever received?
I am not what has happened to me - I am who I choose to become!
What inspires you, motivates you, or helps you to move forward?
The opportunity and challenge! I am not one who likes sitting idle. I always wanted to have my own company from a very young age. That entrepreneurial spark never leaves. I have failed at most things in business and, believe it or not, feel more motivated now than ever before due to all my failure learnings!
What are you proud of in your life so far?
I am proud of many things; my two beautiful daughters are at the top of my list. I am proud of having created businesses from scratch, brands that are now household names within the industry, including the DANI Awards. Running and selling a business in the UAE was pretty impressive, and more recently, having been awarded Irish MedTech Start-up of the Year in December 2021.
What is your preferred way to meet new people/network?
Without a doubt, face to face. I have missed in-person events and am looking forward to networking in "real life."
What skills or qualities do you feel have helped you?
I am a quick thinker and creative, so these definitely are great qualities to have when in difficult situations. I am a high energy person, and it took me years to accept that this was quality. I have the gift of the gab, so never short of a conversation and find it very easy to engage in a conversation with anyone.
What do you wish you had known when you started out?
Never undervalue your time and worth.
Who do you most admire in business, academic or creative circles and why?
I admire a number of people for several reasons, including my old boss Tina McKenzie; she taught me what it takes to put structure into a company and how to "stick to your knitting".
Fellow Tyrone lady Sarah Friar is pretty inspirational with all her successes too. But, I really admire people who are not afraid to try... who are not afraid to fail!
Outside of your professional/work area, what hobbies or interests do you have or what other areas of your life are of real importance to you?
I love to exercise and wine - so all my efforts are counterproductive. I cycle, run (jog slowly) and enjoy taking the horses out on long hacks. I would say I am an avid reader, having created the SheSaidClub book club throughout lockdown. However, it tended to fall into therapy sessions and craic. Having these interactions allows you to keep focused, and for me, exercise is the best way to look after your mental health.
Has the pandemic had a positive or a negative effect on you and/or your business, and how have you managed it?
The pandemic has definitely presented a positive opportunity for Stimul.ai - the waiting list crisis has been exacerbated due to Covid. Our solution is a support tool for health services and one we hope they take advantage of.
Do you have a mentor, or have you ever mentored anyone?
I have had many mentors over the years for different reasons. I think it's very important to invest in one. They act as a sounding board, an honest voice and usually come with years of experience. Listen to them and take their advice.
What advice would you have for someone looking to get into the same area of work or interests?
Just go for it - you have nothing to lose. The worst thing that can happen is that you have to get another job.
What do you feel is the most common reason for people failing or giving up?
People typically quit because they don't get the results they're after quickly. That has certainly been my experience, saying as I am one of the most impatient people you will ever meet. You need to push through the boundaries, collaborate, delegate and never be afraid to ask for help. There is always more than one way to skin a cat, as they say.
Is there a phrase, quote or a saying that you really like?
"A strong woman looks a challenge in the eye and gives it a wink!"
What companies, brands, or institutions do you like or do you think are getting it right?
Oh, where to start! I love watching homegrown companies do well, and the Irish market is booming at the moment across lots of industry sectors.
How do you define success, and what lessons have you learned so far that you could share with our audience/readership?
We all have various thoughts about the definition of success. For me, I am not successful yet - I am a work in progress; when we prove the value of Stimul.ai and show the impact it makes and is acquired by the global players - that will be my success!
I remember being told in my first start-up that we had no growth potential and because we did not own the product, had no scalability - so this has always been the goal - have a product that we own with global potential - I have that now.