Whitepaper: Tips & Strategies from a Medical Start-up

Client Interview: Tips & Strategies from a Medical Start-up

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Early stage medical device firms face numerous, daunting challenges.  This is especially true for start ups with software-enabled products.

Bringing a product to market is an extremely complex process.  From the initial concept to the development process and then the launch, you are certain to face a wide range of issues that can delay your progress.

Syncro Medical has produced a whitepaper examining the issues faced by an actual medical device startup, HeartSciences.  In this whitepaper, Aaron Peterson (VP, R&D at HeartSciences) provides a detailed account of the challenges his company faced and the solutions he discovered along the way.

In this wide-ranging interview, you’ll find lots of practical advice for your own startup venture.

“TIPS FOR MEDICAL DEVICE STARTUPS & SOFTWARE PITFALLS TO AVOID”

In “Tips for Medical Device Startups & Software Pitfalls to Avoid”, we look at issues encountered by medical product startups – with a particular focus on the software component of the product.

Aaron Peterson provides candid insights into the actual experiences of HeartSciences during the product development phase.  His observations are invaluable for other early stage companies who are in the process of launching a product.

Read all about the challenges and software-related issues HeartSciences faced leading up to the initial launch, so you can avoid critical pitfalls – and save precious time and capital along the way.

Here is a quick rundown of what you’ll find in this whitepaper:

EARLY STAGE CHALLENGES

In the first section, you’ll find out about the specific decisions and challenges HeartSciences faced at the start of the process.

One of the main issues was deciding whether to stay in-house or to outsource their hardware and software development.  You’ll find out why HeartSciences decided to outsource most of the development, and the significant benefits they realized by choosing not to hire an in-house engineering team.

Here are some common questions this whitepaper answers:

  • How to find the right partner
  • Knowing when to stop working with unsatisfactory partners
  • How to ensure successful communication

Peterson offers specific advice on several areas where you need to be particularly careful.

BUILDING UP TO MARKET ENTRY

This section focuses mainly on how HeartSciences is planning to address the challenges ahead (its initial product development is nearly complete and it plans to launch its product commercially in a few months)

This section covers:

  • R&D spend and how HeartSciences is planning to scale it down
  • How they plan to shift the development emphasis to software
  • Further issues to consider when choosing a software engineering partner, such as the importance of flexibility and depth

KEY INSIGHTS

The whitepaper concludes with some invaluable insights for medical device startups including the importance of taking advantage of specialist partners.  Peterson also explains why it’s counterproductive to try to move too fast.

At the end, you will also find a useful checklist of tips and pitfalls, as well as an extensive list of additional resources to help you through the journey.

“Tips for Medical Device Startups & Software Pitfalls to Avoid” provides a detailed insight into the experiences of an actual early-stage medical product firm.

Download it today and find out practical solutions to specific software-related challenges that you may also be facing, as well as valuable insights from a startup that has successfully navigated through the process.

 

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