MedTech holds vast potential to reshape healthcare. AI-powered diagnostics, personalized medicine, and real-time monitoring devices are bringing care closer to patients in ways that can both enhance outcomes and lower costs. Tony Kypreos, Accelerate Cambridge Coach, entrepreneur and investor talks about the key stages of the MedTech startup journey in our latest blog. He states that the journey of building a MedTech startup requires navigating sector-specific challenges. The path from concept to market for a medical device can take a decade, many millions in investment and includes challenges such as regulatory compliance in multiple markets, health technology assessments, quality management systems, clinical trials for validation of safety and efficacy, design documentation (ISO13485), IP strategy and defence, etc. And this is all before reaching commercial operations. The focus of the article is on three factors that many MedTech founders encounter, along with the pitfalls to avoid that do not cost any money and de-risk costly development.
The factors are:
- Validating Customer Needs Without a Full MVP
- Leveraging Academic Grants to De-Risk Development
- Creating a Compelling Pitch in MedTech
Tony Kypreos has been a coach on Cambridge Judge Entrepreneurship Centre’s Accelerate Cambridge since 2018, where his focus is on MedTech and Climate Tech innovation.
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