Internet start-ups and medical device companies have something in common. For years, medical technology has been a fertile area for new companies. Many of today's leading medical device companies began as start-ups founded by industry professionals who took a risk. Nellcor, Acuson, Ventritex, Arthrocare, and AVE are just a few of the better-known examples. 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.