It’s no surprise startups are in constant fundraising mode for a while and Ezequiel of Apnosystems is no exception however, he shares with us what’s beyond the cash prize he’s currently chasing and gives us a glimpse into life as an Argentinian startup with some of the team in San Francisco.
Ezequeil and I discuss how a startup goes through phases just like that of his 2 small children. When they’re in the infancy stage, there isn’t much going on but as they mature, more things happen, new challenges arise, and it takes cooperation to address those challenges. The life of a startup is to get past those challenges and to keep going. He has 3 daughters and he makes time for his family and gives a HUGE shout out to his wife for keeping the family together.
I’m starting a live Q&A podcast on Facebook live and you can catch it by following Imua Services on Facebook.
the next live Q&A will be on Monday June 12. This will be a special episode because it’s the day after my birthday and I’m going to run a birthday challenge the week of June 4-11 and I’ll announce the winner LIVE on the podcast on June 12. Stay tuned for details. This episode I answer questions that were submitted to me beforehand. Some have to do specifically with med device product development, there are some personal questions, funny questions, and I give some great direction for those of you in the midst of product development. What do you think was the most random question asked and…keep an eye out for a cameo appearance if you watch the video version
Join our FREE book club and get a FREE audio book with a trial from audible.com! This month and next month we’re listening to / reading “The Lean Startup” by Eric Ries. More info and details here.
Questions & Answers:
#1.What should I do when I’m first starting out? If I have an idea and I’m not sure what to do with it?
I have the perfect fun little quiz for this you can check out athttp://imua-services.com/goodidea. Over there you’ll be able to find out some info about your idea and where you can go from there.
#2. What kind of food do you feed Abby? She looks like a really healthy pup.
She loves her Honest Kitchen Marvel formula which is turkey based. She used to really like the Zeal formula that’s fish based but she got kind of tired of that so we changed it.
#3. I’ve identified a pitch competition that I want to enter. This will be my first one and I want to know what I should focus on.
It’s difficult to answer this question without seeing what you’ve done so far but my Invention Idea to Profitable Product program may help. It’s designed to get you pitch ready and a fundable business in 100 days. All tricks of the trade in pitching plus the work you need to do beforehand to be successful. There is a video you can check out on this page for more info here.
Launch is a boutique co-working space provider with several locations in the greater D.C. / Maryland / Virginia area whose offerings go way beyond just space. Charlie talks in depth about his favorite parts of being a tenant there as well as one thing that makes them unique — startups get featured on their Launch Podcast! Speaking of that, we talk about how to leverage a podcast as a host and a guest for PR and to help amplify your company’s message.
When visiting Minneapolis for the Design of Medical Devices conference, I saw how much the innovation cycle is at work in the medical device / medtech industry. I interviewed the lab supervisor from the Medical Devices Center along with several students as part of the student design showcase that took place there. I’ve got several events coming up soon and for the details, visit our home base here.
This conference was an overview of what’s happening in the world of medical devices in the Mid West. University of Minnesota is a key player in feeding the innovation cycle. If you go back and listen to my podcast with Dr. Art Erdman, you’ll find that University of Minnesota has quite the impressive Medical Devices Center in which the university hosts a unique fellowship program comprising of Ph.D’s, M.Ds, engineers, and MBA’s to move medical innovation forward. The center takes on 9-12 teams each year to work on projects and push them towards commercialization.
It’s been about 3 1/2 years since Aaron started his company, Hardin Scientific and he’s now taking orders for pre sales on his lab incubator. Aaron has bootstrapped his way forward while working a full time job along with raising his son Lincoln and keeping his marriage strong. I got to help Aaron along about a year ago when I was building my Invention Idea to Profitable Product program and his feedback helped shape what it is today. Listen to how he’s made huge momentum in the past year.
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.