🔥 Find me at MedicalDevicesGroup.net 🔥
This is my new stock answer whenever a medical device hopeful needs capital.
Fill out this form. If you can’t answer the questions on this form, your prospective investors (“smart money,” if you will) don’t have enough information.
I can’t take credit for the form. That came from Mark Kraus who, until recently, was life sciences chairman for a Seattle-based keiretsu.
For investor presentations, Mark expects graphs, pictures, timelines, prototype examples, and simple tables to complement the application.
“The presentation needs to tell a story that captures the essence of the company and why this is a great investment opportunity,” he said, adding, “If company executives can’t provide the above, they probably aren’t ready.”
How to Give a Medical Device Pitch
Watch the video below for some sound advice we received a few 10x Medical Device Conferences ago. Full transcript here.
Seasoned VC Jeffrey Kraws summed it up nicely:
“Assume I already know this:
“I hear that everyday all day long,” Jeff punctuated.
His overarching points: Anticipate his questions. Answer succinctly. Say “I don’t know, I’ll get back to you,” when you don’t know. Then get back to him.
Tis the Season 🎄
Christmas and New Year’s fall on Tuesdays this year but I still plan to write you, on schedule. To set expectations,
You know I sing barbershop, right? Here’s one of my favorite quartets with a little Christmas ditty. Enjoy. 😊
Give the Gift of Knowledge! 🎁
These members have questions. Do you have the answers? Visit our community discussion board and catch up on what you missed.
Thank you for being part of our Medical Devices Group community!
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Make it a great week.
P.S. Tell your friends in cardiovascular: Michael Dale, President at Abbott Structural Health will open our 10x Medical Device Conference on May 15. He’ll immediately be followed by Mahesh Mulumudi, Chief of Medicine at Providence Regional Medical Center. Mahesh will tell us “What You Need to Understand Before You Sell That Device to My Cardiologists.” I’m loving this agenda! See the full agenda.
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Many VCs and investor groups use forms similar to Mark Kraus' form. However, the process of evaluating potential investment opportunities can be dramatically improved if you ask companies to enter that information into an on-line database instead of a Word or PDF form. A database gives you the ability to analyze and benchmark opportunities against one another more efficiently. In addition, investments that make sense for the beginning of a funds life cycle might not make sense later in the life cycle. You might pass now but follow-up later. A database makes that easier. It also gives you an incredible database of contacts.
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