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Medical device startups, and even established medical device makers, face many challenges today. Read more about what those in the industry consider to be the toughest challenges.
Three years ago, Jason Bhan, MD, a family practitioner, went into business with a cousin—Sundeep Bhan, a serial entrepreneur—and a friend, Destry Sulkes, also an MD. The three healthcare entrepreneurs founded Medivo, which developed tools to track symptoms, explain lab results, and provide personalized health information.
Web conferencing and other collaboration technologies -- tools that help people work with one another through their computers -- have become more available and affordable. This is a boon for smaller companies whose only previous collaboration option was to gather workers in a room with coffee, donuts and a whiteboard.
Rahul Sood, General Manager of Microsoft Ventures, is changing how we help startups accelerate. Targeting markets across the globe, Microsoft Ventures is bringing entrepreneurial mentoring, backed by Microsoft's products and support, to give their accelerator companies an unfair advantage in the market.
With the goal of revolutionizing cardiac MRI, Morpheus Medical has developed software that takes the process from three hours to about 20 minutes. The company was launched about a year and a half ago when entrepreneurs who wanted to use computational processing to help with the diagnosis of disease came together with radiologists from Stanford University to commercialize the product.
The NVCA site provides eight legal-document templates as starting points to save significant amounts of time and money during VC deals. For example, it includes term sheet, stock purchase agreement, and management rights letter.
New York City has sort of been left out of the entrepreneurial business incubator dynamic. But not anymore. Several new business incubators, including one located smack in the middle of the Big Apple, just hung their "open for business" signs.
In biotech research, the gathering and analysis of data takes a great deal of time. With portable legal consent, Sage Bionetworks aims to reduce data collection time for researchers so they can make their discoveries earlier.
Getting on the right path from the beginning is a key to an entrepreneur's success.
Dr. Todd O’Brien has additional challenges beyond those encountered by most startup life science CEOs. The 48-year-old podiatrist still sees patients even while developing his latest innovation: an electronic tuning fork for measuring diabetes-related nerve damage in people’s feet. He's also building his company in Orono, Maine - far from any major healthcare hub.
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