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DioGenix, in Gaithersburg, Md., was founded in 2009 after CEO Larry Tiffany and his senior management team saw a clear clinical need: monitoring disease progression of multiple sclerosis (MS). Tiffany has an extensive background in biotech, as an IP attorney, and as a senior executive at small and mid-size biotech companies. Before DioGenix, he was senior vice president and general manager of genomics for another genomics research company, Gene Logic.
It’s a cancer immunologist’s dream to discover a safe and effective way to coax the body’s own immune system into waging war against invading cancer cells. Building a startup company around that finding, though, is definitely not every scientist’s forte. For Gary W. Wood, making the leap from laboratory to C-suite seemed like the next logical step.
There’s no silver bullet for becoming a successful life science entrepreneur. But at a session on entrepreneurship and innovation at the FutureMed conference at Singularity University in the Silicon Valley last week, three panelists shared their tips on achieving entrepreneurial success.
One way for life science and digital health entrepreneurs to innovate: turn landmark literature into accessible, web-based programs.
That’s what Omada Health, a San Francisco startup, has done for diabetes prevention. In a session on the future of intervention at the FutureMed conference at Singularity University in the Silicon Valley last week, the company’s co-founder and CEO Sean Duffy explained the effort.
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.
At age 25, Laura Sanko was a founding member of a startup that raised $3.5 Million from some world-famous investors and the Founder’s Fund. The business model was simple: a website that rented high-end jewelry for special occasions for a fraction of the retail value of each piece. Three years later, the investment money was all gone and while the site continued to operate, it had failed to meet the investors’ expectations.
Medical device startups must demonstrate a product's economic value as well as its clinical usefulness, say industry leaders. Read more about their advice for new healthcare businesses.
Creating a successful business model is just a first step. The real work begins when the business model is tested and adapted for the real world. Read more for tips.
Understanding reimbursement issues for new medical devices and therapeutics is an important part of bringing a product to market. Read more for tips from entrepreneurs who have been through this process.
Determining the total addressable market is an important step for early-stage startups. Here are three ways to do it.
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