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The Medical Devices Group on LinkedIn shares its collective wisdom about why some medical device start-ups don't make the cut.
July 8, 2013
1 Min Read
The Medical Devices Group on LinkedIn shares its collective wisdom about why some medical device start-ups don't make the cut.
We've covered how to get your medtech start-up noticed by investors and broken down MIT professor Robert Langer's formula for start-up success. But considering that up to three-quarters of start-ups end up going bust, perhaps more could be learned from looking at why medical device start-ups fail.
That topic is garnering a lot of interest on the Medical Devices Group on LinkedIn, where members are tossing around their opinions on why medical start-ups fail. Some of the reasons they've cited include the following:
Not having the right team
Not having a disruptive technology
Bad distribution strategy
Bad reimbursement strategy
Lack of funding
Lack of an established market
Intellectual property troubles
Failure to establish a timeline for product development and launch
Overcompensating executives
Failure to invest in clinician training
Unqualified sales reps or poor sales strategy
Bad luck
Why do you think medtech startups fail? Let us know in the comments below. And to learn more about how to launch a successful medtech start-up, attend the medtech entrepreneurship conference track at MEDevice San Diego on September 26, 2013.
—Jamie Hartford is the managing editor of MD+DI.
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