Today's aging baby-boomer generation guarantees ongoing demand for innovative medical devices that improve therapies, reduce costs, or otherwise enhance the quality and economics of healthcare delivery. Opportunities abound for entrepreneurs who can come up with a sound business plan. The key elements that add value to a great idea are innovative approaches to solving problems followed by superior implementation in building a business. Products and technologies that address unmet needs in innovative ways. Management groups with deep experience, strong management skills, and the ability to build teams.
Entrepreneurs always start with what they hope is a great idea.
From there, they build a company around it by developing not only products but also a sound business model. They research key questions about how the company will compete in the market, make money, and build value. Venture capitalists are professional investment managers who specialize in investing in new companies with high return potential. They raise money from institutional investors including pension-fund managers, charitable foundations, and wealthy individuals. VCs collaborate with entrepreneurs to help develop their business model and build value in the business.