Struggling to fund your medical device startup?
Launching a medical device is no small feat.
Lengthy development timelines, high barriers to entry, and failure rates make success challenging but not unattainable.
Establishing effective partnerships is one method of improving the chances of success. The right partnerships can offer more than just funding; they can provide expertise, resources, and market access to help you navigate the journey towards commercialisation.
However, startups that partner with corporations face challenges due to differences in organisational culture, operational processes, and strategic goals.
Masterclass: Startup x Corporate: The success formula
Win-win partnerships are characterised by balance, where parties have aligned goals and leverage complementary strengths. The key is understanding which type of partnership best suits your startup and how to position your company to attract corporate investors.
This masterclass will explore a tried and tested strategy developed over more than 20 years of working with large corporations:
- The right deal: Start-ups and corporations can enter into agreements at nearly any stage of the product lifecycle. Selecting the optimal partnership depends on your start-up’s specific objectives, resources, and capabilities. These decisions should be guided by evidence and robust valuations.
- The right partner: Finding the right corporate partner for a deal is crucial because not all companies have the strategic alignment, financial capacity, or risk appetite to move forward. A partner whose business priorities and capabilities align with the opportunity your startup offers is more likely to commit resources, drive the project forward, and create long-term value.
- The right people: Navigating large organisations is challenging, but identifying the right people is crucial because different teams manage different deals. Connecting with internal champions—individuals who believe in your value proposition, possess strong internal networks, and can advocate for you with key decision-makers—can be instrumental.
- The right message: Developing communication materials tailored to a corporate audience is essential for fostering strategic partnerships. Marketing funnels and sales processes aid in creating content that guides stakeholders through a structured decision-making journey.
We will explore these concepts using a real-world example and open the floor to questions.
Instructor: Dr. Sophie Laurenson, founder of MedDev Central
With 20 years of experience in the medical device industry—as a startup founder, corporate scientist, and investor—I’ve had the privilege of working alongside innovators, investors, and end-users to navigate the unique challenges of this complex field.
One of the most exciting aspects of partnering with established corporations is the variety of opportunities. Collaborations are available for startups of any size or development stage. Corporate partnerships can be as diverse as the needs and creativity of the parties involved. With the right teams in place and expectations aligned, almost anything is possible. This masterclass helps startup and corporate clients maximise their chances of building effective win-win partnerships for long-term success.
Register for our free masterclass
What: Startup x Corporate: the Success Formula
When: Thursday, 6 March · 16:00 – 17:30
Time zone: Europe/Zurich (CET)