The challenge of commercialising medical devices
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A presentation delivered at the Scottish Centre for Innovation in Spinal Cord Injury, May 2011 by Derek Jones to an audience of clinicians, engineers and scientists
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The challenge of commercialising medical devices
- 1. THE CHALLENGE OF COMMERCIALISING MEDICAL DEVICES Derek Jones Ph.D., MBA
- 2. all t he W iting is on The Wr I was never satisfied to just do the research - I wanted to see the results in action
- 3. The commercialisation process - It can be hard to see the way ahead
- 4. Business Alchemy The “Dream” Res rc ing ul ts es ou R Time
- 5. High In-House Manufacture Risk Mass Market Manufacturing Speculative Sub-Contracted Product OEM’s Development Niche Market Subcontract Suppliers Customised Basic Model Contract R&D One-Off development Contracts Low Design studies Risk Consultancy Testing Reports Analytical reports
- 6. CAUSE & EFFECT Be aware your choice of business model has consequences
- 7. zo ns ri Ho N ew k Toward Loo
- 8. THE PIONEER PROBLEM The trouble with being a pioneer is you can be killed by the “Indians”
- 9. SERVICE INNOVATION MATTERS Because No One Will Care About Your Product Short Commoditisation Copy Low ROI Product Life Cat
- 10. The “Dream” BE INSPIRED OR BEWARE
- 11. Be Inspired If you dont have real expertise and passion dont start
- 12. BEING INSPIRED Should be the easy bit! Humans can get inspiration from all around
- 13. WANANGA School of Life The Sky is the Roof The Earth is the Floor All Life Forms are Teachers
- 14. Laun ch & Distr ibute Prod Deve uct ??? lopm ent £10 Proto Deve type lopm ent £3 £1 COSTS OF DEVELOPMENT One - Three - Ten Rule
- 15. Cashflow Product Launch Time Peak Funds Required HI-TECH START-UPS
- 16. Your Network Connections Clarity of Purpose Money - Other People’s Money Diverse Skills Exit Strategy Commitment Trust within the Team Leadership Intellectual Property Resources You You Can Count On
- 17. All my life I wanted to be someone.. I guess I should have been more specific
- 18. IF YOU WANT To Change the World You have to Start with yourself
- 19. WHY SHOULD ANYONE WANT TO BE LED BY YOU?
- 20. Strategies for Mastery R Reflect Leverage Reframe Build in Build on Strength Use “Failures” Time to Don’t Fret As Learning Reflect & About Experiences Dream Weaknesses
- 21. FICKLE HAMSTER OF FATE
- 22. MISSION BASED LEADERSHIP • Unity of Effort • Decentralisation • Trust • Mutual Understanding • Timely Decision Making
- 23. WHAT DO FERRETS DREAM OF?
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