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The U.S. Food and Drug Administration's laborious and lengthy approval process is hitting healthcare business owners in the pocketbook. But the FDA could be hitting consumers worse.
Medical device startups will be way ahead of their competitors if they know what to expect from the FDA approval process. Read more for tips on how to be prepared.
Finally, the U.S. Food and Drug Administration is getting around to regulating mobile health applications. It's early in the game, but what do the new rules look like?
Federal regulations and overseas competition are just two of the barriers holding back medical device innovation, says one medical device industry executive. Read more about the other roadblocks to innovation.
Each day, Innovation Daily checks the pulse of global innovation-- courtesy of Innovation America. Here, we take a look at a handful of relevant stories it compiled last week:
In two weeks, Global Entrepreneurship Week kicks off with more than 40,000 events spread out over a seven day period in 123 countries. At competitions like Startup Open for the most promising new startups in 60 countries, to tournaments for cleantech ideas, at stadiums where entrepreneurship will meet music and sports, from heads of state to high school competitions, Global Entrepreneurship Week has become a movement for the next generation of startups and entrepreneurs inspired by the possibility of human endeavor for the benefit of all.
A couple of bills intended to make it easier for startups and other companies to raise capital get the spotlight in the House this week. The Rule Committee has scheduled a hearing -- and live webcast – covering the 'Entrepreneur Access to Capital Act' (HR 2930) and 'Access to Capital for Job Creators Act' (HR 2940). Both tweak rules for the Securities and Exchange Commission. HR 2930 would allow new firms to use crowdfunding to accept and pool donations of up to $1 million without having to register with the SEC. HR 2940 would remove the SEC ban that now prevents small companies from advertising to solicit investors.
Late last week, Acting Deputy Secretary of Commerce Rebecca Blank and SBA Administrator Karen Mills announced two Presidential Memoranda intended to help businesses expand and create jobs. In addition to a new web portal, BusinessUSA.gov, the administration wants to encourage the creation of entrepreneurial startups by accelerating the movement of research conducted in federal labs into the commercial marketplace.
Using words like “uncertain,” “fragile” and “weak,” 96 percent of top economics bloggers now share a gloomy outlook on the U.S. economy. Only half expect employment growth in the next three years while only 2 percent consider the US economy to be ‘strong and growing’ and two-thirds feel the government is already too involved in the economy.
The FDA needs a chief innovation officer to help the agency stay informed about the latest technological advances, says the head of the biotechnology industry's leading trade group. Read more about what he has to say on the FDA and FDA reform.
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