Med Tech as an Investment. Blog post by Managing Partner, Aidan Petrie
Med Tech as an Investment
by Aidan Petrie, Co-Founder + Managing Partner, NEMIC
We believe that Med Tech offers a very interesting investment opportunity and methodology. Strangely, the FDA's development process configures that methodology. How so..?
Well, the FDA's development process requires that it starts with the concept of 'user needs' before any of the development activity starts. User needs captures all the inputs that will make a product, device, diagnostic successful and relevant on the market.
What that means is that with the proper planning at an early stage both the development process, the market opportunity, and the associated risks can be laid out to investors such that they can make a very informed decision. In many other investment scenarios, the risk mitigates less through the development process
Let's not diminish the travails of execution but at least there is a reasonable knowledge that there is an opportunity worth pursuing, appropriate protection through IP and a realistic development plan with milestones laid out.
The New England Medical Innovation Center (NEMIC) is a not-for-profit Med Tech Venture Studio located in downtown Providence, Rhode Island. We support local, regional, and global Med Tech entrepreneurs and startups on their path to commercialization through education, advisory services, events, network, and a collaborative innovation center. Founded by Managing Partners, Aidan Petrie and Lydia Shin Schroter in late 2017, NEMIC has decades of combined medical device development and entrepreneurial experience. But what makes our work so impactful is our extensive network of local expert advisors and subject matter experts who simplify clinical access, regulatory (FDA) strategy/pathways, and ultimately facilitate connections between early stage startups and funding sources.
Navigating a regulated industry is hard. NEMIC can help.