Have You Thought About Funding?
Funding shouldn’t be standing in the way of your technology and the patients it will serve.
While venture capital (VC) serves as one of the more traditional modes of medtech funding, securing investments from VC firms can be exceedingly difficult.
Many VC firms not only want to see proof-of-concept and sizable market opportunities fo the device (among other considerations), but actually require evidence of safety and efficacy or even regulatory approval and reimbursement before investing in a device. Undertaking studies to generate this evidence requires funding, however.
When it comes to funding, it’s important to consider all sources of capital, including government grants and state programs, patient advocacy groups and disease foundations, angel investors, incubators, and other sources. Less traditional modes of funding present less competition, and securing funding through one of these sources can lead to follow-on funding from other sources while also providing connections to other experts and key opinion leaders (KOLs) in the field.
No matter which source of funding is most appropriate for your organization, you must remain forward-thinking and make your regulatory, intellectual property, and reimbursement strategies an early priority to de-risk and attract investors.
Looking to talk funding?
At TTi, we can help identify and build relationships between you and your potential investors, develop comprehensive regulatory and reimbursement strategies, and generate and prepare the data you need.