S5E8 Aaron Call | How to Find Money for MedTech Startups

Being an Engineer · 23 Feb 2024 · 46m · Episode 8

What this episode covers

Aaron Call, founding principal of Jaunt, explains how his company helps MedTech startups navigate market intelligence and fundraising by focusing on customer discovery rather than just technical feasibility. He distinguishes between sustaining and disruptive innovation, detailing how Jaunt uses qualitative and quantitative research to validate product-market fit for Class I and II devices. Call also outlines the current venture capital landscape, noting the shift toward funding only exceptional companies, and discusses the integration of AI in healthcare administration and device development.

Mentioned

Companies
Jaunt, Pipeline Design & Engineering, JPMorgan, OpenAI
Products
Macintosh, ChatGPT
Also
Popular Science Magazine, Innovators Dilemma

Other shows on the same ground, closest first.

  • Global Medical Device Podcast · 1h 11m

    #423: Inside the Investor's Mind: What VCs Look For in MedTech

    Josh Eckelberry, Principal at Solas BioVentures, explains the firm's operator-led investment philosophy and its 'DOTE, GOAT, FLOAT, MOAT' framework for evaluating early-stage MedTech startups. He details how founders can de-risk their companies by securing strong management teams, proving therapeutic efficacy, and engaging with the FDA via pre-submissions. Eckelberry also discusses the importance of advisory boards, equity compensation norms, and the growing role of AI in medical devices, citing examples like IO Urology and Vector Medical.

  • Global Medical Device Podcast · 52m

    #424: The MedTech Startup Survival Guide with Steve Bell

    Steve Bell, a veteran MedTech entrepreneur and co-founder of various AI-powered initiatives, explains why over 75% of startups fail due to emotional attachment to non-viable concepts and underestimating the time and financial commitment. He introduces his 'greenhouse score' and a new MedTech AI advisor tool designed to objectively validate business ideas against global competition, urging founders to 'kill their ideas early' if they lack a bankable path. Bell advises against first-time founders serving as CEOs, recommending instead that they hire experienced leadership with 'scar tissue' from previous startups to avoid costly mistakes and maintain agility. The conversation highlights the critical importance of being needs-based rather than product-based, protecting intellectual property by avoiding premature public disclosure, and managing cap tables to attract professional investors.

  • Global Medical Device Podcast · 39m

    #455: MedTech Founder 101: Shifting from Corporate to Startup with John Schindler

    John Schindler, CEO of Liquet Medical, discusses the transition from corporate roles at Atrium and Merit Medical to founding a startup, emphasizing the 'novel but simple' philosophy for vascular drug delivery devices. He explains how Liquet leverages its 510(k) clearance for pulmonary embolism treatment while planning an IDE trial, advocating for limited market releases to build strategic enterprise value through intentional clinical data. Schindler also covers the challenges of fundraising, negotiating with regulatory service providers, and the importance of early FDA engagement to avoid timeline resets.

  • Global Medical Device Podcast · 36m

    How to Establish a Solid Foundation for Fundraising and Product Success by Focusing on Regulatory

    Isabella Schmitt, a regulatory affairs consultant at Proxima Clinical Research, joins host John Spear to discuss how a strong regulatory strategy underpins fundraising and product success for medical device companies. Schmitt advises startups to avoid starting with technology without a clear problem, emphasizing the importance of Minimum Viable Products (MVPs) and design controls to prevent perpetual iteration. She highlights the '1/10/100 rule' to illustrate how early validation reduces costs and increases company value by hitting major milestones like animal studies or clinical trials. The conversation also covers selecting regulatory pathways (PMA vs. 510(k)) based on market size and reimbursement, and navigating current global regulatory landscapes like the EU MDR and FDA requirements.

  • Global Medical Device Podcast · 30m

    Building a Startup in the MedTech Industry

    Duane Mancini, president and founder of Project Medtech, explains why MedTech startups must integrate reimbursement, regulatory, and clinical strategies from the outset to avoid costly rework and ensure investor confidence. He argues that while regulatory approval (such as 510(k), De Novo, or PMA pathways) is necessary, it is not sufficient for commercial success, as market access and reimbursement determine whether a device can actually be sold. Mancini emphasizes that a robust Quality Management System (QMS) is critical for startups aiming for acquisition by larger strategics, who often reject deals with poor quality infrastructure. He also highlights the importance of building a strong team and advisory board, noting that investors bet on the team's ability to execute a holistic go-to-market plan rather than just the product itself.

The summary, chapters and topics are generated from the episode’s audio by this directory, not written by Being an Engineer. The episode itself belongs to its publisher.