David Carey’s Post

Leveraging Partnerships for Startup Exposure So when your startup is very limited in funds, one of the best ways you can be exposed to new clients is if your partner puts you in their booth at National Retail Federation or puts you in their booth at HIMSS, which is the big healthcare conference, whatever it is. And to be able to say to your partner that, what KPIs do we need to meet in order for us to be one of your featured startups in your booth? Because to be able to have that opportunity is worth a significant opportunity in terms of deal flow. And Tom, I spent six years in Edge. Not many people can say that. I'm more familiar with Edge than Gen AI, like, you know, all day, every day. But from the partnership piece of it, be willing to ask the tough questions because where you want to get to the holy grail is when that partner has their sales force out there selling for you #genai #edge #computing #partnerships #HIMSS

#Customer #discovery is "getting out of the building," talking to people, and finding out if your brilliant idea is #viable. To do this you have to go through "customer validation." Because according to CB Insights, the #1 reason startups fail "no market need." Join us Jan 22 at University of San Diego and learn from Benton Moore on how to #interview customers to get the feedback you need to move forward. In the second half, join Prasad Sunkara, Ph. D on how to talk about your #technical #product in an #investor #pitch. He'll help you strike a balance between talking about "too much product" and not having a product slide at all. Register today at: https://lnkd.in/gGt-rq8S Cathy Pucher Jennifer Patel Jonathan Irwin, MBASilvia Mah PhD, MBA Maisha Cobb, PhD, MBA Pankaj Kedia Dr. Jo Polich Bobby Edelman Martin Gleeson PhD. Randy Schreckhise Troy M. San Diego & Imperial SBDC Network Christie Marcella Serhat Pala Jonah Peake 🐺 Erika Gastelum Kit Ryan

One way or another, Market will be the teacher. Question is 👇: Do you want to learn early? Or late? Most MedTech #startups choose LATE: 1. Wrong assumptions made 2. First gen (MVP) launched 3. No sales 4. Redo loop 5. Some companies rebound #Marketfirst MedTech chooses EARLY: 1. Learn the clinical drivers 2. Learn the economic drivers 3. Learn the deal killing issues 4. Design the product that fits 5. Launch strong and scale The primary objection to EARLY customer insights: "We don't have time." But consider the time of the redo loop. It's the process that takes the longest. And most of the time, the decision is to wind-down rather than rebound. So, instead of proving why your assumptions are right, take the time to learn why you may be wrong. It'll save you massively in the long run.

Orthopreneurship is easy. Come up with an innovative idea. Ask people for a ton of cash. Sit back and wait. Next thing you know your company is worth Billions. NOT SO MUCH. Is your idea adjacent innovation or revolutionary innovation. Do you incubate the idea yourself or do you partner early. Do you have the courage to innovate?? Do you have the intestinal fortitude to hear the word NO much more than YES. No problem raising capital that is super easy, said no one ever. Call your mother, call your friends? Family Office's? ... yes please. Dreaded VC... lose control and direction ? There is no playbook. On any given day you may be as close to failure as you are to success. Orthopreneurship is one of the most difficult career paths, it can also be one of the most rewarding career experiences. My advice from a friendly Fro: 1. Surround yourself with greatness 2. Identify experts that have expertise that you do not 3. Delegate and allow the experts room to run 4. Be prepared to dilute 5. Be prepared to spend to grow 6. If you truly believe you must persevere even in the setting of adversity I want to thank the elite management team of OrthoLazer led by our CEO Rod Mayer, our President Dan Stichter, and senior management Patrick Ahern, Greg Barnett for an outstanding business plan presentation for our 2025 and beyond. Becky Furbee our marketing Queen. A special thank you to an all star Board of Directors led by our Chairman Terry Schlotterback, board members Mark Murphy, Mark Mollenkopf, Rob Turner, Kenny Hancock. Another special thank you to our industry partners Cutting Edge Laser Technologies and ASAlaser The OrthoLazer team is simply outstanding. Surround yourself with greatness. We are excited to move our national headquarters to the Orthopedic Capital of the World, Warsaw Indiana. Stay tuned world OrthoLazer and photobiomodulation will be coming to your community soon. #followthefro

Starting up a medical device startup is one of the most challenging things you can ever do. Why? Firstly it is a highly regulated industry that is getting even more regulated day by day. And that means from day one that entire quality and regulatory system needs two be in the DNA of the company. Next - just starting up a company in itself is a big challenge with over 75% of startups closing in the first 12 months. For medical device startups you need tens if not hundreds of millions of investment - and that means raise after raise after raise. I've spent over 30 years doing this with some spectacular wins and more importantly some spectacular losses. So that gives me some protest unique insights and scar tissue. I believe strongly you can reduce your risk of failure by about 255 by simply not making the big - stupid mistakes nearly all failing startups in MedTech make. In fact I've designed a step by step online course on how to got from idea to exit with all the landmines to avoid in between. https://lnkd.in/eGxDQ5pD It doesn't matter of you are a first time founder, an experienced medtech serial founder, a surgeon with a great idea, an engineer.... this will help you. Head over now and try the first 5 modules for free>> #startup #medtetch #randd #surgeons #VC #angels

🤔 Why are big companies rarely able to innovate like startups? Simple: the bigger you get, the further you drift from the customer’s reality. And this is even truer in B2B settings. At the end of the chain, it's always a customer—an individual whose life, preferences, and needs you must understand deeply to serve effectively. How can you truly provide value to a retailer if you have no clue what their customers experience? Or a bank if you’re unaware of the financial realities of everyday people? At Eniax, we work with clinics and hospitals, but we never lose sight of the patient. And let’s be clear, most patients aren’t arriving in limos or private jets. They’re everyday people, taking the bus, navigating city life. If you want to truly innovate, you need to live in your customer’s world. Want to lead with innovation? Feel the reality of the end customer. Go take the subway. #innovation #healthcare #customerfirst #Eniax

You’ve been considering an investment in a laboratory or specialized equipment for your medical product startup. What are the three strategic reasons to proceed? 1. The purchase will expand your capacity 2. It will facilitate a new service offering, or 3. You need it to complete a product development milestone. How should you consider these reasons in your decision? What options do you have if the answer to all three is no? Read my article to learn more: https://lnkd.in/gNqBgT_C #laboratory #startup #business

💡 Friday Tip for Startups: Scaling Your Medical Device Team the Smart Way 🚀 Happy Friday! 🌟 Startups in the medical device industry face unique challenges when it comes to building a high-performing team. Here’s a quick tip: 🔍 Partner with a Specialist Recruiter Early – In a competitive market, finding the right talent quickly is key to scaling your business. By working with a recruitment specialist who understands the medical device landscape, you save time, access a broader network of top-tier candidates, and focus on growing your innovation. Our team at Barrington James specializes in helping startups like yours build out Operations & Project Management teams that can take your product from concept to market. Let us handle the heavy lifting so you can stay focused on developing groundbreaking solutions! 💡💼 If you're looking to expand your engineering team with top talent, I’m here to support you every step of the way. Feel free to reach out at [email protected], and let’s start planning for success. Let’s make next week count! 🚀 #MedTechStartups #MedicalDeviceRecruitment #TalentStrategy #HiringForGrowth #FridayTips #MedTechInnovation #BuildingWinningTeams #OperationsManagement

🎯 Startup companies (no matter what stage), seem to think it is best to target the largest most difficult to entry hospitals. What they fail to realize is that if they would target community hospitals... the barriers of entry are less and these hospitals desire newer technologies, because in the communities they work and live...their own family members are treated there. 5,129 of the 6, 120 total hospitals in the USA are community based. This is part of the commercialization understanding of decisions that leaders are not seeking input on. #commercialization #commercialstrategy #gotomarket #productlaunch #marketing #selling #salesleadership #cco #ceo #cso #medtech #healthtech #digitalhealth #startup #vc #roboticsurgery

Recently, I have been asked by several MedTech startups what they should do to attract investors and increase their company’s perceived value. One of the first things I ask is who is on their team and what is their expertise. In short, have they built a team of functional experts that can successfully navigate from wherever they are in the innovation and FDA approval process to commercialization. Often, I hear “We can’t afford that.” Or “We don’t want to give up much of our equity.” In both cases, they are pretty much sealing their fates because investors will place as much if not more value on the team you are bringing as they will the device or solution you have created. It’s like if you built an amazing race car but put it in the hands of an inexperienced driver. Best case scenario is that they don’t win the race. Worst case is that they destroy the car on the first turn. Now I understand that many startups are cash starved so they may need to pay with more equity. But if the choice is between having 100% of nothing and 20% of $20 million, I know which decision I would make. So, do you want to build your team with experts who can really drive your business value? Or, do you want to have a 100% of nothing? #toptalent #medtech #medtechrecruiter