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Medical Device Start-Up Companies Flock to Boston for Venture Capital Forum
Colleagues,
As reported in the Boston Globe ... I thought this short article had a number of nuggets of wisdom for the MedTech-IQ community, particularly those developing and commercializing new technology. Check the comments by the serial entrepreneur towards the end.
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They came ... bearing bronchoscopes, cardiac pressure monitors, and promises of medical advances that can translate into profitable investments ...
... More than two dozen medical gear start-ups shared their business plans and made 10-minute presentations ... to potential backers at the 11th annual MedTech Investors Conference at the University of Massachusetts in Boston...
... Entrepreneurs made presentations to ... an audience of about 300 venture capitalists, angel investors, and other business professionals...
... “This meeting is really about networking,’’ said Doug Adams, founder and president of SendSor Corp. in Medway, which is developing an implantable ophthalmic device to treat glaucoma. “If you can’t network in this business, you can’t do the job.’’...
Adams, a serial entrepreneur, said he has started “six or seven companies’’ in his career and sold them to biopharmaceutical firms. “Here’s the pattern: license a patent, build a prototype, finish a clinical trial, and sell the technology,’’ he said matter-of-factly.
Investors at the conference said they were hunting for entrepreneurs who can move products forward and provide “proof of concept,’’ a strong indication devices will be safe and effective in patients, before they will underwrite costly clinical trials.
“People don’t want to invest in basic science,’’ said Leon Sandler, executive director of the Deshpande Center for Technological Innovation at the Massachusetts Institute of Technology in Cambridge. “They want to invest in engineering moving toward product.’’
Start-ups also need to have a strong sense of the application, or end use, of the medical technology they are developing, said Rich Anders, founder of the angel investing group MA2 Angels.
“Assessing the connection between the technology and what you can do with it is extremely important,’’ Anders said.
Read on at: http://www.boston.com/business/healthcare/articles/2009/10/03/medic...
ENJOY!
CC
As reported in the Boston Globe ... I thought this short article had a number of nuggets of wisdom for the MedTech-IQ community, particularly those developing and commercializing new technology. Check the comments by the serial entrepreneur towards the end.
CC
------------------------------------------------------------------------------------------------------------
They came ... bearing bronchoscopes, cardiac pressure monitors, and promises of medical advances that can translate into profitable investments ...
... More than two dozen medical gear start-ups shared their business plans and made 10-minute presentations ... to potential backers at the 11th annual MedTech Investors Conference at the University of Massachusetts in Boston...
... Entrepreneurs made presentations to ... an audience of about 300 venture capitalists, angel investors, and other business professionals...
... “This meeting is really about networking,’’ said Doug Adams, founder and president of SendSor Corp. in Medway, which is developing an implantable ophthalmic device to treat glaucoma. “If you can’t network in this business, you can’t do the job.’’...
Adams, a serial entrepreneur, said he has started “six or seven companies’’ in his career and sold them to biopharmaceutical firms. “Here’s the pattern: license a patent, build a prototype, finish a clinical trial, and sell the technology,’’ he said matter-of-factly.
Investors at the conference said they were hunting for entrepreneurs who can move products forward and provide “proof of concept,’’ a strong indication devices will be safe and effective in patients, before they will underwrite costly clinical trials.
“People don’t want to invest in basic science,’’ said Leon Sandler, executive director of the Deshpande Center for Technological Innovation at the Massachusetts Institute of Technology in Cambridge. “They want to invest in engineering moving toward product.’’
Start-ups also need to have a strong sense of the application, or end use, of the medical technology they are developing, said Rich Anders, founder of the angel investing group MA2 Angels.
“Assessing the connection between the technology and what you can do with it is extremely important,’’ Anders said.
Read on at: http://www.boston.com/business/healthcare/articles/2009/10/03/medic...
ENJOY!
CC
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