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2 min reading time
“Looking for investment” is the number one request I get as leader of the Medical Devices Group.
That’s a hard one especially because (a) early stage investments in medical device startups are drying up and (b) without understandng the deal intimately, I’m hesitant to send it to potential backers.
Lucky for me, I met Mark Kraus at the last Medical Devices Group networking event in Seattle. Mark is part of the world’s largest angel investor network. See http://medgroup.biz/keiretsu
I asked him how he evaluates opportunities. He replied,
“When I am approached about a company, I generally ask for two pieces of information:
The 1-2 page summary should include the following, each with a concise, single paragraph and/or bullet points. It’s important to keep this concise – it’s not a full business plan!
The slide deck needs to address the above points as well, albeit in a presentation format. Graphs, pictures, timelines, prototype examples, simple tables are often used. Generally a little more detail on financial than the above one pager allows, but important to keep it high level and not a detailed, complex spreadsheet. Overall, the presentation needs to tell a story that captures the essence of the company and why this is a great investment opportunity.”
Mark said if company executives can’t provide the above, they probably aren’t ready.
What do you think of Mark’s advice?
How have you been successful at the early-funding stage of your business? What lessons or resources can you share with the group?
CONVERGE Innovation Summit: July 15-16 in Philadelphia
The healthcare ecosystem will gather at the MedCity CONVERGE Innovation Summit to discuss leading strategies and latest innovations for the future of healthcare.
Keynote speakers including the President & CEO of GE Global Healthcare Services and the Director of IT Innovation for Medtronic (among others) will discuss how their organizations are leading in healthcare innovation — how they did it and what their experience means for the future of healthcare.
Use promo code MDG to save 40% at http://medgroup.biz/2014-CONVERGE — only $495 for Medical Devices Group members! Thanks, MedCity team!
Discussions This Week
Will UDI make implant tracking a breeze?
FDA told me to figure it out myself
Quality Management System based on ISO 13485 or is ISO 9001 enough?
Apple’s iWatch held up by FDA?
Make it a great week.
P.S. I’ll meet you in Boston on July 7 http://medgroup.biz/Boston-July-7 and in San Diego on July 14 http://medgroup.biz/San-Diego-July-14 … join me if you can!
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