SeBIO was held this week in Atlanta’s Buckhead area. This meeting is intended to put developing medical technology in biotech, diagnostics and medical devices on stage in front of a significant number of venture capitalist groups. Often the technologies are in a very early stage or even loosely held concepts, creative but risky. The enthusiasm of inventors has not wavered even in times of very cautious financial treading. Inventors and entrepreneurs still bring in their prototypes and optimistically display their wares. But the venture gap is upon us.
The inventor in the Southeast is unaware in most cases that the Greek economy just scared a venture “turtle” back into its shell. More pressure and focus is put on the regulatory pathway and reimbursement than on a clever design. Awkwardly, the inventor becomes the CEO writing five-pound business plans and exploring Medicare and insurance issues. The game has indeed changed. For many medical technologies, it is back to the old days of the friends and family investors, grant writing and angel funding. The venture gap is upon us. For those with the courage to step into a developing medical technology, the rewards could certainly be great. It is after all, supply and demand. With global and US political and capital market, stability will come and the venture investors return back into the early stages of technology. Meanwhile, chin up inventors! Keep the passion for saving lives and improving health care alive until the funding returns.
No comments:
Post a Comment