The theme of the Thrive Conference this past week in Virginia Beach was branding Virginia as the “Bioscience State”. There’s several initiatives to boost economic development in the state like grants, complimentary working space, and innovation challenges. Is that enough to achieve the goal of becoming the Biosciences State”? Listen to the 360 view of service provider, startup, investor, grant assistance, and economic development to see how Virginia is uniting to achieve this goal together.
Want to know if your medical invention idea is a good one? (I’ve got a quiz for this…keep reading to take it)
When you’re first thinking of something to invent, a big question that comes up is “how do I know if my medical invention idea is a good one” I know several of you stumbled on a solution to a problem while others desperately needed a solution to a problem so you created one, and there are other scenarios. No matter what lead to your idea, it’s important to know the impact that it will have on the world not only how it will benefit or save so many lives but the economic impact of it too like how will it save hospital systems, insurance companies, and patients money, how large is the problem you’re solving and what’s the amount of money that you could make?
Your questions answered: Selecting Medical Device Manufacturers
I’m doing something different this episode. I’ve put together some of my most asked questions since all of you listening might have them, and am answering them here. Got other questions about this topic or others? Let me know. You can send them to firstname.lastname@example.org
I get lots of questions on selecting medical device manufacturers. As startups are developing products, they need to select a manufacturer early on so they can work within their parameters so it’s really important to start scoping them out early on.
I’m looking for a manufacturer and have a great idea, can you help me?
Maybe you or your family member are facing a medical problem and you think of a solution. Maybe your research is promising and you want to bring it to the world. You imagine that you’ve developed your idea into a product and people all over the world are using it. They’re so thankful that you decided to do something with this idea.
You really can’t believe that the idea you have for a product doesn’t exist. It’s solving a real problem and it’s certainly made a difference in your life so why wouldn’t it make a difference in others lives? You move forward working on your idea and you become addicted to it in a way. All of your free time is spent on tweaking it or changing it so it works. Read more »
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.
Celebrate our 50th podcast episode with us by getting a FREE training if you’re a startup, entrepreneur or inventor click here. If you work with startups and provide services to them, we’ve got something for you too email us at email@example.com. I did something special by doing this podcast via live video and plan on doing more of that. To make sure you catch the next one live, follow us on facebook here.
This week, I heard an NPR segment on patient centered clinical trials and it got me thinking about how many CRO’s are designing trials, what should be included, who should be consulted, and what’s the overall goal of the study. Listen as I do a deep dive into how to incorporate “usability” into your trials, recruit more patients, and get better results.
While some startups and early stage companies struggle with getting their messages out, others thrive. Erik Clausen and I do a deep dive into what you can do to get some exposure and PR. Erik is a managing partner for CG Life, a marketing agency specializing in the biotech and life sciences industry and share stories about his clients as well as the office “labs” —- and I mean the furry kind with 4 legs.
By the year 2025, the workforce will be made up of 75% millennials….that’s 3 out of 4. What are you doing so that you keep up with the trends and stay engaged with this audience that’s bound to be your customer, your employee, your employer, or your VC? I give tips for this in this episode, which was a presentation given at MedTech Monday and you can download the presentation….as well as watch a HILARIOUS video
It’s my last night in Cali for a while. My husband has a new job in the D.C. area and I head out tomorrow. I’ve come across some things that made me the person I am today and some of the good times, the bad, and my accomplishments and that made me think about how my business has progressed over time. What about you? I challenge you to email, tweet, or facebook message some things that you come across that shows just how far your business has come over the past year.