Author Archives: Meghan M. Alonso

About 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.

Women Entrepreneurs in Tech: Are we the Minority Because we Limit Ourselves?

As a woman entrepreneur and a woman in tech, I’m often surprised by the number of women who talk to me about how tough it is to get ahead in this world.  Let’s not pretend this isn’t an issue.  Statistically, tech companies with a female co-founder have secured only 10% of venture funding according to the CrunchBase Women in Venture Report. 

 

I’ve been blessed to have great male role models in my life that have always pushed me to do whatever it is that I want to do.  It started with my father and my two brothers who never let me back out of anything just because I was a girl.  It was quite the opposite actually.  We all played football in the yard and practiced our pitching on the mound lines that my dad painted on the driveway where he would crouch at the painted home plate that’s still on the driveway some 20 years later.  It continued in several companies where I was the only female working and not only did I have a seat at the table, it was expected that I contribute.

 

Even with all of this, sometimes there’s a voice in my head telling me that I won’t be able to do certain things.  I know other women have this too and men have it as well.  Are men better at tuning this out and going after what they want full speed ahead when they’re seeking funding?  Are they not intimidated because they know they have a better chance of securing funding?  Man or woman, getting this funding is no easy feat.  CB Insights, an organization that compiles private company data, sifted through the numbers and found that only 28% of companies exited through M&A or IPO and only 1% became the coveted “unicorns” of the industry like Airbnb or Slack.  The odds are against all of us, despite our gender.

 

However, self confidence may be part of what’s causing this.  A study out of University of California at Davis published in the Journal of Personality and Social Psychology indicated that there’s a large gap in self confidence between women and men in western industrialized countries such as the US, UK, and Australia.  Is this showing up when women are in tech startups and seeking funding?  Maybe.  Investors are like anyone else in that they can sense low self confidence and that doesn’t give them the confidence that the startup will give them a return on investment.  When people walk in and pitch with more self confidence, they instill a feeling of trust which can foster funding opportunities.

 

What can be done to improve this confidence when pitching?  It starts with knowing as much as you can about the investors so you can easily build a rapport that’s natural.  From there, the pitch should be practiced in situations as close to the real thing as possible.  The art and science of negotiation should be studied and put into practice once in conversations with investors.  Women normally don’t negotiate as well as men but armed with knowing this, again, practice can make a big difference.  Training is essential in all of this and that’s what we at Imua Services are doing.  We’re on a mission to equip and lead 1 million startups by the year 2020 including women in tech. Women’s Entrepreneurship Day is on November 19th, in partnership with the United Nations, 144 countries, and 22 universities.  Imua Services is hosting a contest giving away over $20,000 worth of training to celebrate.

 

The “We Can as Women” contest is open for entry November 1 – 30 and calls for women to share their ideas on how they can make the world a better place through medtech, biotech, and medical device innovation.  Entries require a name, email, and to finish the statement We can as women_____ such as: We can as women, stop the spread of malaria in third world countries. Selected winners will be announced on Monday, December 4th and will receive training on how to go from idea to reality starting in December.  Imua Services is requesting for people to spread the word about this contest to encourage women’s entrepreneurship, and is calling women all over the world to enter. Enter at http://imua-services.com/wecan

Latest Press Release: Imua Services Hosting Contest Giving Away Over $20,000 in Training for Medtech Startups in Honor of Women’s Entrepreneurship Day

Are you as excited as Abby the Halloween Hula Husky is to celebrate Women’s Entrepreneurship Day?  Here are the details:

Imua Services Hosting Contest Giving Away Over $20,000 in Training for Medtech Startups in Honor of Women’s Entrepreneurship Day

WASHINGTONOct. 31, 2017— Even though it’s become increasingly easier to start companies, the competition for venture funding remains fierce, and startups with co-founder females receive a mere 10% of venture capital according to the CrunchBase Women in Venture Report. Imua Services, on a mission to equip, lead, and inspire 1 million entrepreneurs and startups to solve medical challenges through new innovation by the year 2020, wants to change that.

National Women’s Entrepreneurship Day, November 19 th, is a movement in partnership with the United Nations and is celebrated in 144 countries and 22 universities. In celebration, Imua Services is promoting women in medtech entrepreneurship by hosting a contest giving away over $20,000 worth of training. Founder Meghan M. Alonso says “I work mostly with men starting companies and want to encourage more women in the medtech space to be entrepreneurial. I’m working to spearhead that through opening their eyes and changing attitudes that yes, it can be done and it can be done by YOU.” Her observations are consistent with findings of several studies that more men are leading the charge in tech startups. She thought it was a perfect opportunity to pair her efforts with that of Women’s Entrepreneurship Day and the UN.

“Even with the growing number of women venture capitalists and angel syndicates like BELLE Capital USA and Golden Seeds, there’s a shortage of women investors so the majority of the time, female founders are pitching to men. This change can start with more women getting in the game as founders,” says Alonso. The “We Can as Women” contest is open for entry November 1 – 30 and calls for women to share their ideas on how they can make the world a better place through medtech, biotech, and medical device innovation.  Entries require a name, email, and applicants to finish the statement We can as women,_____ such as: We can as women, stop the spread of malaria in third world countries.  All of these statements (minus name and email) will be made public on the Imua Services website to show the world what women want to do to change the world.  Selected winners will be announced on Monday, December 4 th and will receive training on how to go from idea to reality starting in December. Imua Services is requesting for people to spread the word about this contest to encourage women’s entrepreneurship, and is calling women all over the world to enter and use the hashtags #choosewomen and #wecan.

More about the “We Can as Women” contest and Imua Services at imua-services.com/wecan.

Latest Press Release: As Medical Device Market is Forecast at $450 Billion, Imua Services Equips the Next Generation of Startups with New Online Training

Check out our latest press release and re-launch of Invention Idea to Profitable Profit Program!

WASHINGTON, Oct. 19, 2017 /PRNewswire/ — According to The International Trade Association, the global medical device, technology and equipment market is growing from $360 B to $450 B in 2018. While there’s tremendous opportunity for startups and entrepreneurs in this industry, they often fail before they get to market so there’s a great need for training.

Imua Services is meeting that need with its hallmark program that has just re-launched, Invention Idea to Profitable Product, which gets startups from idea to fundable business and the perfect pitch in 100 days in addition to introductions to investors and development partners. The focus is on building a lean startup around an idea for a medtech, biotech, or medical device product as well as how to go about raising money once the idea has been validated. The program went through beta testing, a soft launch earlier this year, and has been improved based on user feedback and input from colleagues. New features include a longer program with more content, streamlined delivery process, and lower price point.

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078: Building a Lean Startup feat. Sanna Gaspard

Sanna serves as the CEO of Rubitection where she is the primary engine behind the company. Their mission and vision is to become a standard tool for early bedsore prevention around the world. she has her PhD in biomedical engineering from Carnegie Mellon University and she has been recognized for her technical and business work by winning 1st place in the Medical Capital Innovation Competition, 2nd Place at UpPrize Competition, and she’s being selected for the 2017 AAAS Lemelson Invention Ambassador.
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077: The Best Thing You Can do to Prevent Problems with the FDA

Kris is the president of Advantu, a company that helps you build products that your customers will love. With over 20 years experience in software quality, he knows how to find problems that others will miss, reducing your time to market.

Audible: Get a FREE audio book trial for 30 days from audible.com! Visit imua-services.com/freebook for more details and to start your trial. We highly recommend “The Lean Startup” by Eric Reis.
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076: Secrets to Winning Startup Pitch Competitions

I’m going to let you in on some secrets….secrets to winning startup pitch competitions that is! This episode was inspired by all of the startups I’ve interviewed, seen pitch, and the winners of those competitions. After compiling the profiles of the ones that won, I was able to see trends into why some would win and why others wouldn’t. This has also been verified when I worked with Shark Tank’s Kevin Harrington to contribute to his book, Put a Shark in Your Tank. Lucky for you, I’m a bit of a stats nerd and am giving you the short and sweet version of this so you can take action.
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074: From Academia to Entrepreneur, Helping Dogs and Horses Along the Way feat. Virpi Muhonen

Visit imua-services.com for complete shownotes of every episode.

Virpi is passionate about regenerative medicine, especially regeneration of articular cartilage. She holds a PhD in cell biology and has a strong background in orthopedic research. She is the CEO of Askel Healthcare Ltd, a med tech company focusing on cartilage regeneration in companion animals.

Sponsors

Audible:

Get a FREE audio book trial for 30 days from audible.com! Visit imua-services.com/freebook for more details and to start your trial. We highly recommend “The Lean Startup” by Eric Reis.
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073: A Simple Method for Saving 8 Million in Medical Device Development feat. Austin Walters

Austin Walters is the founder of SpringTide, a firm that helps medical technology companies go to market successfully. Austin led sales for Friendemic, consulted for J&J, Medtronic, and Walgreens at Innosight, served as the Commercial Director for EchoNous, and is a graduate of the Harvard Business School.

Sponsors:

Audible.com: Get a FREE audio book trial for 30 days from audible.com! Visit imua-services.com/freebook for more details and to start your trial. We highly recommend “The Lean Startup” by Eric Reis

Invention Idea to Profitable Product: Go from idea to fundable business + perfect pitch in 100 days. Get a 14 day free trial and find out more info over at http://imua-services.com/iipp
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072: Get the Investors Attention: The Most Overlooked Thing in Your Pitch feat. Kay Fabella

Storyteller and Communications Strategist, Kay Fabella, empowers businesses to connect with their audience and customers by crafting meaningful communication strategies. Kay applies her experience as a world-recognized author, speaker and trainer to help startups to Fortune 500 companies. A Los Angeles native based in Madrid. She’s been featured in The Huffington Post and El País.

Sponsors:

Audible.com: Get a FREE audio book trial for 30 days from audible.com! Visit imua-services.com/freebook for more details and to start your trial. We highly recommend “The Lean Startup” by Eric Reis
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071: Bill Vick is Dying and Wants You to have 1 Million Dollars

Bill Vick is on a mission to raise money for research and new devices related to IPF. What’s IPF you may ask? Idiopathic pulmonary fibrosis. He’s the face of the IPF Catalyst Challenge happening RIGHT NOW where 1 million dollars will be given out to support research and new medical technology to help IPF patients. Want in? Listen to his amazing story (he even does pull-ups at the gym with his oxygen tank) and prepare to get motivated!

Sponsors:

Go from Idea to fundable business + perfect pitch in 100 days with Invention Idea to Profitable Product

Join the ranks of Oprah, Bill Gates, and Mark Zuckerburg by reading / listening to more books. Get a free 30 day trial of audible.com here

More about Bill

Bill is a competitive triathlete and he went to his doctor after he noticed his triathlon times were increasing. He knew something was off. He discovered he had IPF and was expected to die in less than 3 years. He made the choice to live as much as he could and experience life.
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