063: Hackathons, winning pitch competitions, and the startup grind feat. Nick Delmonico

Nick has struggled with asthma and when his school was hosting a hackathon, he thought there’s got to be a better solution to managing this huge medical condition than what’s already out there. A few years later and many years wiser, Nick has founded Strados Labs and is moving his medical invention to market. Learn what he’s overcome and advice that’s helped him get here.

Highlights from this interview:

Background:

Nick entered this field with experience in finance and was inspired by his struggles with asthma to create something better

Big progress lately:

Strados Labs has been winning several pitch competitions lately and getting lots of press (along with this podcast of course)

Feedback they’ve been getting that’s helped them win pitch competitions:

Define your problem, identify how you’re going to solve that problem, and make sure there’s a big enough market for it

Enter our pitch makeover contest here

Value proposition:

Strados Labs is improving the way healthcare is managed by improving compliance, decreasing costs, and improving patient quality of life

Biggest challenges:

Building their team. They even vet anyone that works with them…..employees, consultants, advisors, and others to make sure they’re all a good fit and in line with the company’s mission / goals

What are you doing to sustain your living while you build your company:

The other co-founders work full time as a physician, a PhD candidate, and Nick works for another startup as well.

Best piece of advice he can give other startups:

Be prepared and ready for what the industry is. There are big regulatory roadblocks. You want to do heavy market research on who your competitors are, where your product fits in, and external forces. Timing is a huge factor and this is a process

What do you do to keep yourself going every day:

Focus on patient stories and how they’re helping

Enter our pitch makeover contest here

Host: Meghan Alonso
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Host Company: Imua Services
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All Podcasts:
iTunes: bitly.com/Inspire

About the Author

Meghan M. Alonso
Meghan M. Alonso, referred to by Shark Tank’s Kevin Harrington as a medical device development expert, is known for her award winning medical device podcast, Inspired by Imua, the chapter she wrote in best selling book “Put a Shark in Your Tank, and her valuable connections in the medical industry. According to the Huffington Post, she helps clients navigate the complicated process of bringing their ideas to the marketplace. She’s a patriotic military wife, pet parent, founder and co-founder of 4 successful companies who thrives on guiding medical device and IVD companies through development and manufacturing. When she isn’t helping others, Meghan is hard at work on her MBA she is pursuing from Auburn University, staying active with her adorable husky Abby, crossfitting, enjoying great restaurants and fine wine with her husband, and soaking up the sun the nearest beach.

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