Author Archives: Meghan M. Alonso

Save Sprout… the piglet with a broken leg!

Sprout found himself in a bad situation when his momma pig fell on him.  This is a huge problem in the farming industry.  According to Matthew Rooda, CEO of startup SwineTech says that 116 million piglets died last year because of this and his company is on a mission to make sure that number drastically decreases.  Their product Swineguard detects piglet squealing then delivers a small shock (similar to a dog collar) to the momma pig so she moves out of the way and doesn’t crush the piglets.

As for Sprout, he’s in good hands with his community of humans taking care of him at Crossfit North Reston, where his owner Melissa works out.  The crossfit community has really stepped up to rally around saving little Sprout who was almost put down from his injury.  Now, his road to recovery includes specific exercises to strengthen his muscles but could use your help.  Since you all come from a background in medical technology, what other ideas do you have that can help little Sprout?

051: Medical Device Tax Repeal: the good, the bad, and…..is there an ugly?

 

Medical Device Tax Repeal

This past week, Washington was abuzz with what will happen if the ACA is repealed. For medical device manufacturers, the question about the medical device tax repeal is top of mind. This tax, a 2.3% for innovation on new products, was enacted to raise funds for the ACA. It was so unpopular and stifled innovation so it was suspended for 2016 and 2017. The battle has begun to see what will happen in 2018.

The tough thing for the industry to swallow was that medical device manufacturers were taxed pre-revenue, making it difficult for the entrepreneur or startup to get their business off the ground. That lead to the suspension.

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37 – What you need to know to get startup funding for your medical product part 2

Getting startup funding for your medical product can be full of stormy waves.  Listen up to find out what goes in to a winning pitch and what investors want to see.

When seeking startup funding, you need to have a solid business structure, business strategy, and pitch. Today we dive into these details to build on part 1 (in episode 36). If you didn’t listen to part 1, you should…and it’s the process of what it takes to get your product to market from ideation to launch and covers what needs to be done in marketing to regulatory to engineering to sales.

Want to know more? Click here to get $750 off Invention Idea to Profitable Product when it re-launches in January.

  • Shoutout to Brian Johnson [3:11]
  • Why doing it solo is unrealistic and why a team is better [5:08]
  • The importance of an advisory board [6:27]
  • Are you talking to the right investors? [9:57]
  • How to use your presentation pitch to connect with your audience[10:56]
  • Practice public speaking [12:26]
  • Be a passionate storyteller [14:11]
  • Why YOU? [14:52]
  • Quick reminder [17:31]

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036 – What you need to know to get startup funding for your medical product part 1

Ever wanted to get advice from lots of medical device development experts or find out what mistakes they see over and over again?

When seeking startup funding, there’s more work involved than just asking for money. Investors want to be confident that you can drive your product forward and be successful on the market and that comes with knowing the process of getting there, being prepared, and giving them the info they want to see. This is part 1 of 2 in a series that will give a brief overview of what you need to have a grasp of before going out and trying to get a pitch lined up.

Want to know more? Apply for 1 of our 10 beta tester spots in our new program, Invention Idea to Profitable Product here.

  • Belated happy thanksgiving [0:36 ]
  • Why getting your funding is not just about your pitch [1:02]
  • Is your idea or technology what the market needs and wants [4:53]
  • The stages of development [6:57]
  • How to get where you want to go [10:13]
  • Intellectual property [11:12]
  • Engineering, design, and prototyping [12:24]
  • Clinical and regulatory [13:58]
  • Usability and human factors – why your invention ought to be intuitive [15:33]
  • Manufacturing process [18:43]
  • Sales – crafting the sales strategy [19:15]

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035 Medical Device Development Advice: Roundup from Experts at the Medical Device and Investor Forum

Ever wanted to get advice from lots of medical device development experts or find out what mistakes they see over and over again?

Well, I asked, and have it here for you. While at this year’s OCTANe Medical Device & Investor Forum in October, I collected audio from a VC investor, mechanical, software, firmware, electronic, and optical engineers along with strategy consultants.

Got an idea for a medical product and wondering how to get started and how to get funded? Find out in our new “Invention Idea to Profitable Product” program for FREE as a beta tester. Hurry as space is limited!

  • Quick reminder: Eight days to go for the Application period for IIPP (Invention Idea to Profitable Product) [2:02]
  • Dac Vu’s greatest piece of advice for startup companies [3:17]
  • Francisco’s take on what the biggest mistakes companies make in software development [4:44]
  • Tom Hunter & Matt Romey from Azzur Group on why they think multi tasking is one of the biggest mistakes startups make [6:10]
  • Steve Maylish, Fusion Biotec & Len Brandt, Brandt Ventures – why every startups should own the reimbursement question [7:11]
  • Should ventures be all about money? Three keys to money. [8:42]
  • Robert Winn, K&L Gates – IP advice for startup companies [11:18]
  • Robert’s thoughts about FastTrack [11:46]
  • Listen to Ron Sully, from Omnica on his best advice when going through product development [12:22]
  • Manage expectations – thoughts of Peman Montazemi & Albert Yi, Saritasa [14:42]
  • Save time and money by keeping your focus [16:41]

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034 – The Most Important Thing to do When you Have an Idea for a Medical Invention with Pat Flynn

Find out about how other industries are using idea validation to be successful and how that applies when you’re working on a medical invention.

My guest Pat Flynn isn’t in the medical device industry, he doesn’t have a medical invention, but has extreme expertise at creating new businesses, products, and services around what people want. What did he do to make everything successful? Idea validation. Talking with people about what they want and need. Listen about his ideas that flopped when he didn’t do this, and find out about his book that services as an idea validation guide.

Do you have an idea for a medical device? Apply here for FREE to beta test our new program where you’ll learn what to do next + how to get funding.

  • Get to know Pat Flynn and his background [3:00]
  • Pat’s failure stories and why it matters a lot [7:49]
  • Pat’s $15,000 lesson and how you can avoid the same costly experience [10:50]
  • Validate your idea. [12:51]
  • Listening and market research takes the guess work out of the way [17:32]
  • Set the right mindset first [19:15]

 

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033 – Real Advice from Real People of Real Startups Roundup

Want to hear from real startups about their journey in medical device development?  You got it right here…

When I was at the OCTANe Medical Device Investor Forum recently, I had the chance to interview several startups about their journey, what their technology is, and what advice they would give to someone just starting out. They’re battling the rough waves of development but they get right back on their board when they fall off. I hope this inspires you to do the same and IMUA with your idea!

Take action! Click here to sign up for FREE to beta test our new “Invention Idea to Profitable Product” OR you can text the word “INVENTION” to 44222.

  • The best part of a startup journey according to Rich Hanson of PhageTech and Byron Shen of Velox Biosystems [5:18]
  • A brief history of Milk Tracker by Avento Technologies [6:52]
  • The hardest part of being a startup according to Mandy Gagedeen of SugarCube [10:22]
  • Why it’s important to know how fit and adjust personality and leadership style in startups from Neto Sosa of Velox Biosystems [12:05]
  •  Why startup is more than just building a business or being cool [14:41]

Jiji the Penguin from the Mind Research Institute:

Jiji penguin

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32 – Got an Idea for a Medical Invention? Here’s What to do Next.

Got an Idea for a Medical Invention? Here’s What to do Next.

Ever wondered what to do with that great idea for a medical invention? Meghan Alonso walks you through actionable steps and gives options for you to drive your product forward so it reaches the many lives it can impact.

Ready to dive in?

Apply for the new FREE BETA version of “Invention Idea to Profitable Product” here

OR you can text the word INVENTION to 44222.

  • How to be one of the lucky 10 to get free access to our program [1:16]
  • Got an idea for a medical invention, now what? [2:49]
  • How to validate your idea and Identify your target market [5:22]
  • What can you do with your idea to keep things moving forward? [7:43]
  • Connect with people who can get you to your goal [10:58]
  • Find strategic partners [13:16]
  • Check out how we can help you get started [14:19]

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031 – Medtech Growth & Resources in Southern California with OCTANe’s Bill Carpou

Bill Carpou, president of OCTANe talks about the upcoming Medical Device Investor Forum, how Launchpad helps companies, and why Southern California is a great place to start a company. Find out what resources are available to you as an entrepreneur.

Have an idea for a medical product? Join the program for FREE as a beta tester here or text the word invention to 44222 to stay updated about our November 1 lauch!

  • The Medical Device Investor Forum [3:20]
  • How Octane is structured [8:20]
  • How Visionary Ventures finds their companies [11:50]
  • How Launchpad helps companies [13:00]
  • Why San Diego is a great place to start a company [21:45]

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030 – How to get Startup Funding for your Medical Product

John Livesay, referred to as the “Pitch Whisperer”, helps startups get the funding they need by helping them refine their pitches. He explains why the jockey is more important than the horse, as well as the role empathy plays in startups. Learn how to weave stories in to your pitch and wow investors.  

Developing a new product and want to know what to do next?  Join our NEW FREE BETA PROGRAM here or text the word INVENTION to the number 44222.

  • How John helps improve pitches [2:31]
  • The biggest mistake people make when pitching [3:10]
  • How your pitch should involve throughout the process [12:10]
  • Examples of how John helps Start-Ups [14:15]
  • Key takeaways from John’s experience [19:00]

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