- A trained workforce.
- Engineering skill that is supported by strong universities.
- Access to risk capital.
- A strong clinical and physician network.
One of the other large challenges to gaining ground in some emerging markets is the cultural stigma around failing. “It impedes entrepreneurship because it takes a bold person to leave an academic or corporate job at a successful company and take that risk to go out on their own,” says Glen Giovannetti, Ernst & Young's global life sciences center leader (Boston). “From my own view, that is why you see new ideas and new businesses occur in conglomerate-type settings versus entrepreneurs out on their own.”
Return to MedTech Snapshot International: Are the Next Eleven the Next Frontier?