Average Reviews:
(More customer reviews)I am a recent graduate of the Stanford Graduate Student of Business and have worked in the life sciences industry for many years. While at the GSB, I took the 2-quarter BioDesign class which used a beta version of this book as its text. The course - and text - has a rather ambitious aim, namely to explore the medtech entrepreneurial and innovation process and to do so in a cross-functional, comprehensive, and hands-on fashion. As one of the more popular courses at Stanford and one that has resulted in numerous new VC-funded start-ups, I think they have succeeded in this goal.
More so than entrepreneurialism in other industries, starting a new business in medical devices requires bringing together many disciplines and functions, including engineering, medicine, and business. This book takes this comprehensive view of the process. You'll learn about:
* Medical - learn about the clinical trials process for medical devices (e.g. 510k / PMA) ... learn how to put together a clinical development plan & clinical trials plan
* Engineering - learn about prototyping, produce concept definitions, R&D strategy
* Business - learn about doing a market assessment ... how to put together a reimbursement strategy ... how to do a marketing & business plan ... how build your financial models
But more than just looking at the individual disciplines, this text looks at the innovation *process*. That is, it walks through idea/concept creation and screening, researching new clinical need areas, and important early due diligence (i.e. IP searches, researching unmet medical needs, doing a stakeholder analysis). Then, once you have your concept it takes you through developing your early prototype and putting together a development and business plan. Next, it discusses how you will want to go about pitching this to VCs and obtaining funding to implement your product. And finally, it touches on operation issues and exits once your product is launched.
The book is highly readable and is accessible to a wide range of backgrounds and knowledge levels. This is because it was designed to be a text for a course that was taken by b-school students, engineering graduate students, and med school students. Additionally it is very hands-on, and discusses the tangible *things* that need to be done as you go through the start-up innovation process, and includes numerous case studies. Some chapters are rather dense but these can be skimmed until you actual need to reference the material.
On caveat is that, while I think this text can be relevant for people that are interested in innovation and start-ups in biotech or other areas of life sciences, it is clearly targeted to medical devices & medtech.
Being a successful entrepreneur in medical devices requires a thorough understanding of each of these steps in the innovation process and all of the cross-functional disciplines that are involved in bringing a new innovation to market and to patients. This textbook understands this and tackles this topic with that principle in mind.
Click Here to see more reviews about: Biodesign: The Process of Innovating Medical Technologies
Recognize market opportunities, master the design process, and develop business acumen with this 'how-to' guide to medical technology innovation. A three-step, proven approach to the biodesign innovation process - identify, invent, implement - provides a practical formula for innovation. The experiences of hundreds of innovators and companies, in the form of case studies, quotes and practical advice, offer a realistic, action-orientated roadmap for successful biodesign innovation. Real-world examples, end-of-chapter projects, and Getting Started sections guide the reader through each of the key stages of the process and provide a template to create their own new medical devices. Addressing common medical, engineering, and business challenges to develop well-rounded expertise, this book is the complete package for any biodesign entrepreneur. The text is supported by valuable resources, including up-to-date industry changes: found at ebiodesign.org.
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