NEMIC Goes to Cambridge, Collaborating with Innovators at MIT, Harvard
May 1, 2023
From left to right: Nevan Clancy Hanumara, Aidan Petrie, and Henry Ahn.
Aidan, alongside Henry Ahn, National Science Foundation's program director of Small Business Innovation Research/Small Business Technology Transfer Programs, led a session at MIT about strategies for successful healthcare startups.
First, they spoke to Medical Device Design Class 2.75 about the importance of human factors and usability in medical device development.
Ahn leads the medical device vertical of SBIR at NSF, which gives out phase one and two grants totaling up to $2 million. He said 28% of their grants go to medical device and digital health startups, amounting to about $100 million a year. The prime focus is on innovative solutions to known clinical problems with a good business case.
Aidan discussed NEMIC's contribution, which complements NSF's focus, by ensuring the startups have a complete business case to present to investors. This case should comprise a validated business plan, a clear value proposition that benefits patients, physicians, providers, and payers, regulatory strategies, team building, intellectual property, and more.
The following day, Aidan and Ahn held office hours with 13 startups covering cardiac health, deep brain stimulation, sensor development, anoscopes, and GI tracking devices. The best collaborations were between physician-defined problems and cutting-edge technologies.
AIDAN HEADS TO HARVARD
The Move Lab at Harvard’s School of Engineering is a collaborative space aimed at developing impactful medical technologies.
A week had passed since Aidan's first visit to Cambridge, and he found himself back at the Harvard School of Engineering's Move Lab. This time, he was there to tour the facility with its esteemed Faculty Director, Conor Walsh, Ph.D. Conor Walsh is a renowned expert in the fields of robotics, biomechanics, and wearable technologies. Aidan couldn't wait to see what the lab had to offer.
As he stepped into the Move Lab, Aidan was immediately struck by the energy and creativity that filled the air. The space was a hub of innovation, where students and Ph.D.s from various disciplines such as robotics engineering, fashion and textiles designers from the Rhode Island School of Design (RISD), and software and AI experts came together to collaborate and work on projects related to kinesiology and rehabilitation.
The Move Lab's goal is to take these innovative projects and turn them into sustainable enterprises. The lab offers a collaborative environment for students and experts from different fields to come together and work on cutting-edge technology projects. The idea is to prepare these technologies for commercialization by spinning them out into successful and impactful ventures.
Aidan was thrilled to have the opportunity to speak to Conor's class about successful entrepreneurship in the Health Tech space. Aidan shared his insights and expertise with the class, discussing the components that are critical for building a successful Health Tech startup. The class was engaged and enthusiastic, and Aidan was happy to answer their questions and offer advice.
In conclusion, Aidan's visit to the Move Lab was an exciting and inspiring experience. The lab is a testament to the power of collaboration and innovation and is a driving force in preparing promising technologies for commercialization. With experts like Conor Walsh leading the way, the Move Lab is sure to continue making an impact in the Health Tech space for years to come
