As a nurse building a medical startup, how do I get my idea off the ground?

I've done extensive research in pressure ulcer prophylaxis in hospital settings and have an idea that has been proven to be an effective way to do so. There is nothing on the market like it and there is a huge need for it. How can I get my "idea" off the ground?


It sounds like you have a wound care physical product? Is that correct? Who will b the end user? Nurses in home health? Hospital nurses and general and trauma surgeons? Who buys products for these end users? Cmo of large health systems? Ultimately, you may need to consider cardinal health, McKesson for distribution? How will you manufacture this product? Check out alibaba for starters. How much will your customer pay for this product? How is it better than what they are using now? Will this product allow burn victims to be discharged earlier? Will it reduce hospitalization in nursing home residents?
You will need to assemble a team, probably an MBA for starters... What is the total addressable market? Start a conversation with the buyers for your local healthcare system and ask them their pain points in wound care? Work with a local physician who might be a champion user and persuade administration to try a pilot with your product. In short get one customer who will pay a certain price for it, consider presales, like tile is doing now. This should get you started! Once you have these answers you may be ready for a grass roots fundraising campaign on medstartr! I am happy to help! Best, dr hodge

Answered 10 years ago

I am a champion of Marketing even before you develop a product. So, I through multiple channels while getting cooperation and assistance for clinical trails. Start this from day one and continue through the life of the product. Data is king in this field. Get the data and use it in your marketing. Determine if you would be willing to sell your product to a larger player and cash out with or without a royalty agreement or if you want to manufacture it yourself - you'll need lots of money for this route. Consider financing and investors.
Good Luck!
Michael T. Irvin
"Get To The Top Without The Slop"

Answered 10 years ago

1. Avoid industry wording/jargon when sharing your idea. You will most definately need to build a team and so it must be easily shared and understood by non industry folks.
2. Share share share. Common misconception is that ideas must be kept secret for safe keeping but if you don't share you miss an opportunity of a lifetime... Someone always knows someone ;)
3. Get involved in events like startup weekend or incubators that help you not only expose your idea but build a business plan around it. Also in some cities we have community spaces like Gangplank that offer free mentoring... Which leads to next one..
4. Get yourself a mentor with either knowledge in the manufacturing, licensing, or market you are getting into.

Call one of us for more direct feedback, but you will realize that exposing your ideas in a simple manner to a lot of people and genuinely ask for feedback and help that pieces begin to fall into place... Just don't give up, things take time and especially if you are bootstrapping it.
Humberto V.

Answered 10 years ago

Since this question is from a year ago you most likely have made progress towards launching your idea. However one of my recommendations would be to partner with a hospital as a beta site. That has been a proven and low cost entry for many of my clients and with my own company. Pressure ulcers are very problematic for patients their families and costly to hospitals so an innovative idea is necessary to solve this problem or make it better. If you would like to learn more I am available for a phone consult.

Answered 9 years ago

Proof of Concept - One way would be to design a prototype of the product or service and then share it with trusted colleagues. Sounds like you may need to do a study so partnering with an academic institution or finding venture capital funding to help support this would be helpful. Joining a healthcare incubator or accelerator such as Start-Up Health can give you some structure to organize your work and connections for funding in exchange for equity. This way gives you the organization and a higher sense of commitment you may need to get to the next level. I've been part of a healthcare incubator and successfully launched a medical service. I'd be happy to have a conversation to help you learn more about this.

Answered 6 years ago

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