Difference between revisions of "Medical Device Startups and FDA (blog post)"

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Audience: If you are considering medical devices at all, you have heard of FDA, and you are probably worried about it.  
 
Audience: If you are considering medical devices at all, you have heard of FDA, and you are probably worried about it.  

Revision as of 16:48, 13 February 2017


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Audience: If you are considering medical devices at all, you have heard of FDA, and you are probably worried about it.

Problem and consequence: There is a lack of info and guidance for the process, which may prevent innovation in the medical devices space. Startups go to market in Europe first.

Especially difficult for startups: small team, limited funding, no prior experience with FDA. The rigid regulations were written long before these innovations were considered possible.

Trend: increasing VC investments in life science and more regulatory scrutiny.

Importance and necessity: You could get in trouble if you don't get clearance. FDA clearance will bring your business credibility and possibly tremendous profits.

What to do: You should be doing the work anyway. Embrace it and work with FDA staff. Examples like Uber, Airbnb.

Interviews: 3 companies with different status.

New programs and resources: DICE, SBA&FDA, Shiftlabs Github open source.

Bottomline: “there are fees you have to pay, regulatory compliance testing labs, and outside expertise that costs money.”