Value Creation Roadmap for
Medical Technology Innovation

Steve Maylish, CCO of Fusion Biotec, Inc. and Scott Hutchinson, an Affiliate at StoneCreek Capital, developed this detailed roadmap to help increase an entrepreneur’s odds for success.

12 strategic factors to consider

A  comprehensive plan from needs identification through commercialization and financing

Key to attracting growth capital and increasing the probability of a successful venture 

Macro changes in healthcare market dynamics 

From “fee for service” to “value-based” models

Purchase decisions shifting from physicians

Key inflection points and strategic milestones

Strategic milestones and tradeoffs impact success and  value creation

Can reduce risk and increase financing success 

A financing plan focused on value creation 

A milestone linked financing model based on risk reduction and an accelerated path to key strategic endpoints 

It is our sincere hope that this material will help improve the success of medical device entrepreneurs!  

Avoiding Failure

Access to capital is always key, “To build credibility as a viable medical device company, demonstrate understanding of the unique risks, recognize that risk reduction is essential to building value and have a plan to mitigate these risks.”  

 

The Value Creation Roadmap for Medical Technology Innovation, Steve Maylish and Scott Hutchinson

“If entrepreneurship is a battle, most casualties stem from self-inflicted wounds. Within high-potential start-ups, nearly two-thirds of failures are caused by the founders’ decisions.  First-time founders lack a roadmap and understandably rely on their “heart” - on gut, intuition, and rules of thumb. In fact, three out of four venture-capital funded start-ups fail.”

 

Noam Wasserman professor at Harvard Business School and author of "The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup".

“The most damaging flaw that bedevils decision-making is overconfidence: the kind of optimism that leads governments to believe that wars are quickly winnable and capital projects will come in on budget despite statistics predicting exactly the opposite.”

 

Daniel Kahneman author of "Thinking, Fast and Slow", is a renowned psychologist and Nobel Prize winner in Economics.

A comprehensive road map will largely determine success

Introduction

Most MedTech startups 

will fail during commercialization

Med Tech innovation is complex

A comprehensive road map will largely determine success

  • Clinicians, engineers and entrepreneurs often don’t focus on the many factors involved in creating a successful medical innovation company

  • Many badly needed medical solutions will never make it to patients

  • Includes several additional barriers: technology translation, clinical risks, patents, regulatory approval, reimbursement, clinical trials, complex channel strategies, competitive markets, etc. 

  • Long commercialization cycle 

  • Helps teams stay focused and provide “Slow Thinking”

  • Keeps teams from drinking their own Kool-Aid

  • Provides strategy to de-risk investment and attract funding

A comprehensive road map will largely determine success

A comprehensive road map will largely determine success

A comprehensive road map will largely determine success

  • 12 Strategic factors

  • Macro changes in healthcare

  • Know what’s expected in a business plan and when

  • Understand strategic milestones and key inflection points

  

  • A milestone linked financing model based on risk reduction, strategic milestones and key inflection points

Continue reading by selecting a chapter below:

Macro changes
in healthcare  
market dynamics 

Key inflection  points and
strategic milestones

A financing plan focused on    
value creation 

Copyright 2017 Fusion Biotec, Inc.