🔥 Find me at MedicalDevicesGroup.net 🔥
9 min reading time
Some group members reach me at the earliest stages of their start-ups.
They have limited (or no) funds.
I’m sure many of us would like to help … and while I may donate an hour here or there … that’s not going to make a big enough difference for someone looking for serious direction, mentorship, and counsel.
Very few of us can afford to tackle their fundamental challenges with the near-certainty of no compensation. Is there a practical way to help them?
Steven R. Rakitin
The JOBS Act provides a funding vehicle for companies that need early money for prototypes, clinical studies, etc. but the SEC will probably take until 2014 to issue the rules for crowd funded securities, so raising early money is still a challenge.
Do any of you know whether patient groups or foundations will fund the early stages of developing a medical device treatment for their disease? There are many patient advocacy groups that raise money for research, but which ones support commercialization of an idea into a product?
The greater issue as I see it is that the rules of the game make it imperative that someone with the germ of an idea assemble a small army before proceeding very far. Having the idea is great. Getting a prototype costs money. Having the required testing done costs more money. Going through clinical trials costs a LOT of money. Getting design and production set up according to FDA requirements takes time and money. And that is only your ticket to enter the regulatory arena; now you get to sit back and wait while the FDA considers your submission.
I think many entrepeneurs underestimate the effort it takes to get an idea or product to be a success in a highly regulated market, particularly if they have an existing product which is very similar to a regulated product. When they find out, many abandon the untertaking. It is a shame, because we may be losing out on new devices that could improve the quality of life or save lives. So hats off to those who offer their time to help these fledging companies make it.
Diane Marie Kabbaz
Well I have only two things more to add: 1) I come from a family whose genetic predisposition is to live a very, very, L O N G L I F E!
ps: My personal friend who happens to be a Thoracic Surgeon said, “Diane, All you have to do is be YOU, kiddo!”
Srinivas K Rao
A brief abstract is given below
Advanced wound care devices: These devices made in the form of a transparent sheet, is used for external applications– chronic wounds such as diabetic foot ulcers, venous leg ulcers and acute wounds such as burns, plastic surgery and scar revision.
Novel bone graft substitute : These novel bioceramic devices developed by
If you sign up, use group named “Yakata” for a free submission.
There are plenty of shady product innovation companies out there, but Edison Nation actually has a very reputable and trustworthy track-record. In addition to the medical division, Edison Nation also operates EdisonNation.com (an online community for innovators); Everyday Edisons, an Emmy® Award-winning series on public television; and Inventors Digest, a top trade publication dedicated to the study of business and innovation.
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