startup

Rui Sousa will be a speaker at the MedTech Forum on 15/5. Find more about the programme here ! Your start-up could benefit from a free advice session at the MedTech Forum I meet a lot of entrepreneurs in the medical technology sector and I know that they bring a lot to the table: they are brimming with ideas, innovation and a burning desire to improve people’s lives. They often have engineering, academic, surgical or medical backgrounds and a deep understanding of their field. However, many find it challenging to translate their ideas into marketable products. This should not surprise us. The skillset required to develop an innovative medtech solution is immense, as is the combination of talents and knowhow needed to launch a successful business venture. Those who possess all the required knowledge and skill to be the next medtech star are few and far between. This is reflected in the numbers of researchers and entrepreneurs who struggle to translate their work into commercial success. The failure rate in Europe is staggering. Start-ups must have a product that meets a clear market need. But they must also know how to raise finance, how to protect their intellectual property, how to make their product or solution scalable, and how to present their work in a way that inspires support. It’s a tall order. I’m impressed that so many entrepreneurs are brave enough to try to do it all, and saddened when some of them fall short of reaching their goals. One way to overcome some of these challenges is to engage with professional consultants and experts with various specialities: law, business development, market access, venture capital and so on. You don’t need me to tell you that this kind of expertise is expensive. For a start-up with limited funds, splashing...