Funding & Investor Support
WHY IS THIS IMPORTANT?
Funding is one of the first major hurdles that a medtech manufacturer must overcome, and securing funding can be very challenging. You must be able to assure prospective investors so that your technology will be successful in the marketplace.
While many medtech manufacturers (especially start-ups) seek traditional modes of funding through venture capital firms, there is a conundrum. In addition to wanting to see proof-of-concept and sizable market opportunities for the device (among other considerations), many venture capitalists require evidence of safety and efficacy or even regulatory approval and reimbursement before investing in a device, but undertaking studies to generate this evidence requires funding.
There are many different sources of funding, and similar to the way that different healthcare stakeholder groups have different motivators when deciding whether to adopt a product, different sources have different motivators as well (e.g., the primary motivator for a patient advocacy group funding industry research is how your device will benefit their patients, while the primary motivator for venture capital firms is often the amount of revenue your product will generate). Your pitch must be tailored toward each and should be informed by market research.
DID YOU KNOW?
Having a strong regulatory strategy can be key to securing funding, as it can be leveraged to demonstrate that you know how to position your device and can help to communicate milestones with potential investors.
Securing funding from disease foundations can help to encourage follow-on funding from the government.
If your technology aligns with a federal agency’s mission, you might be able to secure Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) grants.
HOW WE CAN HELP
We’re intimately knowledgeable about traditional and non-traditional sources of funding and the needs of each investor. We can help identify appropriate sources of funding and support you in both developing and delivering a successful pitch to each of your prospective investors.
Conducting market research, we can help to establish a business case for your product.
We can help develop a strong regulatory strategy, conduct proof-of-concept studies, and perform early health economic modeling (health economics lite) to secure funding for your technology.
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