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Driving medtech innovation and start-up company formation through successful joint academic/commercial fellowship

Abstract

Aim Medical devices (medtech) is a strong driver of innovation and new treatments in healthcare. Straddling the fields of engineering and healthcare, successful medtech development demands critical needs assessment, highly skilled medical engineering professionals, and the successful collaboration between medical and other experts. Optimal development and testing need an efficient dialogue with third parties, including regulators and payers. BioInnovate Ireland was established in 2011 as a multidisciplinary, structured programme to shape the future of medical device therapy based on innovation and interdisciplinary cross-fertilisation.

Methods and results 107 fellows have completed the programme covering 20 clinical areas. Fellows have funded companies at a rate of more than 1.5 companies per year which have attracted Irish and international seed funding in excess of €40 million, excluding undisclosed investments.

Conclusions A multidisciplinary programme targeting mature, experienced professionals can drive a highly successful medtech start-up culture in the right ecosystem.

  • inventions
  • reverse innovations
  • global health
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