The Business Of Neurotech

What can the people building neurotech teams tell us about where the industry is heading? In this episode of The Business of Neurotech, Adam Fraser speaks with Chay Carter, founder of Carter Sciences and co-founder of reccy neuro, to offer a recruitment-focused view of the sector. Chay brings decades of experience in recruitment and psychology, combining specialist hiring with research, newsletters and insights from the people developing the technology. In their conversation, Chay shares how he came to focus on neurotech and what he has learnt about helping companies build the teams they need. They also discuss the influence of AI on recruitment, the broader trends he is seeing across neurotech and how his research and media work connect with the changing needs of the industry. Tune in for Chay’s perspective on people, relationships and how the market is shaping neurotech’s next chapter.

Key Points From This Episode:

• [01:24] Trace how Chay’s career led to specialist neurotech recruitment and reccy neuro.
• [07:37] Discover what makes a strong founding team beyond scientific and technical talent.
• [09:39] Learn how hiring priorities change as startups move towards commercialisation.
• [12:03] Understand why big-company experience can be a shock to the system at a startup.
• [13:59] Explore how market trends shape his recruitment and fractional support for startups.
• [18:39] Examine where AI, BCI, and implantable devices are changing the demand for talent.
• [21:07] Hear why AI applications and screening still require real human conversations.
• [23:46] Consider whether AI can replace the hands-on work neurotech companies need.
• [25:24] Follow how Chay transforms global news into newsletters, interviews, and deep dives.
• [29:26] Unpack the scale and pace of neurotech’s growth and difficulties defining the sector.
• [31:50] Assess how his media and market data could become a business in their own right.
• [34:53] Compare US dominance with the neurotech activity happening around the world.
• [38:04] Find out why wearable brain-reading devices still face a form factor challenge.
• [39:05] Connect with Chay and access his research and free neurotech company database.

Links Mentioned in Today’s Episode:

Chay Carter on LinkedIn

Carter Sciences 

reccy neuro

Carter Sciences | The Neurotech Newsletter 

The Open Loop Podcast

Adam Fraser on LinkedIn

Omniscient Neurotechnology

The Business of Neurotech Podcast 

How can softer materials make implantable brain-computer interfaces safer, more stable and clinically useful? In this episode of The Business of Neurotech, Adam Fraser is joined by Dr Paul Le Floch, co-founder and CEO of Axoft, to explore how his materials science background led to Fleuron, a soft neural interface platform designed to reach deep brain regions while maintaining high-density recordings. Dr Le Floch explains why Axoft is initially focusing on disorders of consciousness, how the company is taking a stepwise path through FDA clearance and what its early clinical work revealed about turning novel biomaterials into medical devices. He also discusses the realities of raising a $55 million Series A, competing in a fast-moving BCI market, financing research through materials sales and learning to pitch a long-term vision as a scientist-founder. Tune in to learn what it takes to build an invasive BCI company focused on better materials, unmet clinical needs and patient impact.

Key Points From This Episode:

• [01:29] Dr Le Floch’s path from materials science at Harvard to founding Axoft.
• [03:21] Discover why the brain’s electrical complexity drew him into neuroscience.
• [04:57] Unpack how Fleuron’s softness aims to improve compatibility with brain tissue.
• [06:44] Explore why stable neural data links efficacy with reduced tissue disruption.
• [08:58] Compare invasiveness with signal quality and where Axoft sits on that continuum.
• [12:19] Find out why disorders of consciousness became Axoft’s first clinical focus.
• [16:26] Follow the roadmap from diagnosis and prognosis towards decoding communication.
• [18:12] Understand Axoft’s stepwise regulatory strategy for a temporary inpatient device.
• [20:15] He shares his experience working with the FDA in an emerging BCI category.
• [21:34] Uncover the clinical evidence and commercial plan behind Axoft’s Series A.
• [23:25] The clearance, manufacturing and clinical milestones needed for Series B funding.
• [25:14] Gain insight into why BCI’s difficult venture capital environment is still worth the risk.
• [28:47] Unpack Axoft’s strategy in a field of well-funded but complementary competitors.
• [30:12] Hear how materials sales fund research while providing partnership opportunities.
• [33:35] Why targeted stimulation that bridges devices and drugs is capturing his attention.
• [35:11] Learn how scientist-founders can move from research to vision-led application.
• [37:18] Final takeaways and how to learn more about Axoft and Dr Le Floch’s work.

Links Mentioned in Today’s Episode:

Dr Paul Le Floch on LinkedIn

Axoft

Axoft on LinkedIn

Episode 5: Naveen Rao Talks Neurotech Market Dynamics

Episode 8: Nicolas Vachicouras Talks BCI Market Dynamics and Start Up Life

Episode 12: Matt Angle Talks Paradromics and BCI Market Dynamics

Mass General Brigham

FDA Breakthrough Devices Program

iBCI Collaborative Community (iBCI-CC)

Adam Fraser on LinkedIn

Omniscient Neurotechnology

The Business of Neurotech Podcast

How can academic brain-imaging research become a practical clinical tool for people with drug-resistant epilepsy? In this episode of The Business of Neurotech, Adam Fraser is joined by Jordan DeKraker, co-founder and CEO of BrainScores and a postdoctoral researcher at the Montreal Neurological Institute, to discuss how he went from hippocampal mapping to building an AI-enabled neuroimaging company. In their conversation, Jordan talks about how his personal experience with epilepsy sharpened the company’s focus, what it takes to package open-source science into trustworthy software and why clinicians still need to stay in the loop. They also discuss early-stage funding, regulatory and market-entry decisions, interoperability, explainable AI and the wider role of precision imaging across neurotech. Tune in for a look at the business decisions behind bringing brain AI from the lab into clinical care with Jordan DeKraker.

Key Points From This Episode:

• [01:21] Jordan’s path from hippocampal research to founding BrainScores.
• [05:08] Find out what HippUnfold revealed and why its potential matters.
• [07:25] Hear how Jordan’s epilepsy experience shaped the company’s first focus.
• [12:05] Meet the co-founders and see how their skills support the company’s vision.
• [13:43] Examine BrainScores’ non-dilutive funding and ambitions for venture capital.
• [15:19] Understand the software as a medical device model and its go-to-market plan.
• [17:46] Learn how BrainScores is testing the market and the role of feedback from clinicians.
• [19:53] Uncover what the company hopes to achieve with its open-source platform. 
• [23:17] Understand why clinicians must remain accountable within an AI-assisted workflow.
• [25:33] Whether healthcare AI should augment expertise rather than replace it.
• [27:24] The model interoperability needed to integrate various data sources and tools.
• [31:21] Compare funding, capital and opportunities between Canada and the US. 
• [34:45] Explore BrainScores’ roadmap beyond epilepsy into age-related cognitive decline.
• [36:29] He shares his view on the future of BCI and transcranial stimulation. 
• [38:10] Where to follow Jordan’s research and the latest work from BrainScores.

Links Mentioned in Today’s Episode:

Jordan DeKraker on LinkedIn

The Neuro (Montreal Neurological Institute-Hospital)

BrainScores

BrainScores on LinkedIn

McGill University

HippUnfold

The Human Connectome Project (HCP)

Healthy Brains for Healthy Lives

Centre for Aging + Brain Health Innovation

Adam Fraser on LinkedIn

Omniscient Neurotechnology

The Business of Neurotech Podcast

For people who have lost the ability to speak, brain-computer interfaces (BCIs) could open a new path back to communication. In this episode, Adam Fraser speaks with Matt Angle, founder and CEO of Paradromics, about the company’s 11-year journey to build a BCI that can restore communication for people who have lost it. Matt explains why moving more neural data is central to BCI performance and how Paradromics is approaching safety, durability and clinical translation. He breaks down why speech restoration is the company’s first clinical focus, then unpacks what could come next, including movement applications, mood biomarkers and AI-enabled communication. The conversation also explores the company’s move from Silicon Valley to Austin, Texas, as well as the regulatory, reimbursement, funding and commercial realities of building in deep tech, and what it takes to turn frontier neuroscience into a durable company. Listen in for a closer look at Paradromics’ journey and the technology, capital and strategic thinking shaping the future of BCI.

Key Points From This Episode:

• [01:31] Discover how Matt’s neuroscience background led him to found Paradromics.
• [03:18] Learn how BCI has shifted from pure science to an engineering challenge.
• [04:53] Hear why Matt has stayed in the CEO role 11 years into the journey.
• [07:34] Understand Paradromics’ focus on safety, durability and neural data.
• [08:29] Why moving more neural data is central to building better BCI systems.
• [14:00] Learn why speech restoration is Paradromics’ first clinical focus.
• [15:20] Explore the broader medical applications Paradromics may pursue next.
• [20:11] Find out why Paradromics moved from Silicon Valley to Austin, Texas.
• [22:25] Matt’s perspective on FDA engagement, regulation and reimbursement pathways.
• [27:26] Explore how Paradromics thinks about funding, competition and investor alignment.
• [33:28] Hear Matt’s view on IPO potential and the wider BCI ecosystem.
• [35:18] Why “invasive” is not always the best way to assess BCI risk.
• [39:29] Matt’s advice for founders building deep tech companies.

Links Mentioned in Today’s Episode:

Derrick Matthew Buchanan on LinkedIn

Canada Neuro

Royal World Archive

Derrick Buchanan, Ph.D. Clinical Neuroscience 

‘The complex landscape of TMS devices: A brief overview’

‘A visual and narrative timeline of US FDA milestones for Transcranial Magnetic Stimulation (TMS) devices’

‘Should rTMS be considered a first-line treatment for major depressive episodes in adults?’

‘Stanford neuromodulation therapy for treatment-resistant depression: a randomized controlled trial confirming efficacy, and an EEG study providing insight into mechanism of action and a potentially predictive biomarker of efficacy’

‘Stanford Accelerated Intelligent Neuromodulation Therapy for Treatment-Resistant Depression’

Matt Angle on LinkedIn

Paradromics

Paradromics | Connexus

Matt Angle on Substack

‘CMS and FDA Announce RAPID Coverage Pathway to Accelerate Patient Access to Life-Changing Medical Devices’

Adam Fraser on LinkedIn

Omniscient Neurotechnology

The Business of Neurotech Podcast

Brain stimulation is moving from specialist clinics towards faster, more personalised and scalable care. In this episode, Adam Fraser speaks with Dr Derrick Buchanan, a clinical neuroscientist in Stanford’s Brain Stimulation Lab, entrepreneur, author and speaker whose work spans precision brain imaging, neuromodulation and mental health. Derrick discusses his path from Canada to Stanford and explores how the university turns research into companies. He unpacks how transcranial magnetic stimulation works, why adoption still lags behind its clinical promise, and where portable devices may take the field. They also explore the neurotech ecosystem and the long-term investment logic behind BCI. Tune in to hear how science, commercialisation and access could shape the next generation of brain care with Dr Derrick Buchanan.

Key Points From This Episode:

• [01:50] Discover how Dr Buchanan’s career path shaped his work and entrepreneurship.
• [09:22] Explore what makes Stanford the ideal place for cutting-edge research.
• [11:56] Unpack how Stanford handles IP, licensing and startup ownership.
• [16:16] Learn how transcranial magnetic stimulation (TMS) stimulates the brain.
• [23:30] Uncover the barriers holding back the wider adoption of TMS.
• [28:29] Find out how portable TMS could expand access and when to expect it.
• [31:09] Hear his perspective on applying neurotech across imaging, stimulation and BCI.
• [34:28] Dr Buchanan explains how invasive and non-invasive tools can coexist.
• [38:31] Final takeaways and why investors are betting heavily on BCI.

Links Mentioned in Today’s Episode:

Derrick Buchanan 

Derrick Buchanan on X

Stanford Medicine

The Brain Stimulation Lab (BSL) 

Canadian Institutes of Health Research

Stanford Office of Technology Licensing

Stanford Accelerated Intelligent Neuromodulation Therapy (SAINT)

Motif Neurotech

Episode 6: David Eagleman Talks Media, Startups, and Neuroscience

Episode 4: Mariam Khayretdinova talks EEG, AI and Psychiatry

Adam Fraser on LinkedIn 

Omniscient Neurotechnology 

The Business of Neurotech Podcast 

What makes an emerging technology bold enough and a founder exceptional enough to justify taking an early-stage risk? In this episode of The Business of Neurotech, Adam Fraser sits down with Matias Serebrinsky, Founding Partner at PsyMed Ventures, a specialist venture capital fund investing in frontier brain and mental health technologies. Matias brings a dual perspective as both a former startup founder and an early-stage investor who previously supported AI companies during a pivotal period in the industry’s growth. In this conversation, he reflects on how breakthrough technologies move from research labs into real-world products and what it takes for scientific drive to become a venture-scale company. They also discuss the evolution of neurotechnology as an investment category, the realities of backing high-risk frontier science, and how PsyMed assesses early-stage opportunities across brain-computer interfaces, neuromodulation, mental health innovation and more. Tune in for an investor’s view of the people and technologies driving frontier neuro forward.

Key Points From This Episode:

• [01:15] Explore Matias’ journey from startup founder and NVIDIA to neuro investing.
• [05:37] Uncover the three qualities PsyMed looks for in an early-stage investment.
• [06:54] Explore Matias’ broad definition of neurotech and the market behind it.
• [08:30] He shares PsyMed’s approach to investing early and supporting founders.
• [12:55] Whether specialist and generalist funds will grow as more investors join.
• [15:35] Consider what major exits could mean for neurotech’s investment appeal.
• [18:54] Learn which opportunities are currently capturing PsyMed’s attention.
• [22:18] Hear about a BCI company taking a different path to developing neurotech.
• [28:34] Discover the role capital plays in turning science into a successful company.
• [30:58] Unpack the different hardware approaches to neuromodulation. 
• [34:15] Understand what changes when a wellness product enters medical territory.
• [36:28] Matias’ advice for researchers considering the startup journey.

Links Mentioned in Today’s Episode:

Matias Serebrinsky on LinkedIn

PsyMed Ventures

PsyMed Ventures on Substack

Business Trip Podcast

‘The State of Frontier Neuro’

Motif

Adam Fraser on LinkedIn 

Omniscient Neurotechnology 

The Business of Neurotech Podcast 

How do you turn promising neurotechnology into solutions that can actually work inside healthcare systems? In this episode of The Business of Neurotech Podcast, Adam Fraser is joined by Richard Mulry, President and CEO of Northwell Holdings, the for-profit venture investment arm of Northwell Health, to explore what it takes to identify, invest in, and scale innovation in clinical care. Richard explains why Northwell prefers to invest in companies it would use itself, and how clinical evidence, workflow integration, and strong partnerships shape every investment decision. The conversation explores the unique opportunities and challenges of neurotechnology, from brain-computer interfaces (BCIs) and neurorehabilitation to AI-enabled platforms and bioelectronic medicine. Richard also shares why solving meaningful clinical problems matters more than following investment trends, how strategic healthcare investors can help companies prove real-world value, and what founders should know about working with strategic investors. Listen in for an insightful discussion on what it takes to bring neurotechnology from concept to clinical impact!

Key Points From This Episode:

• [01:28] Richard’s career in healthcare and his path to Northwell Holdings.
• [04:32] Background on Northwell and its approach to healthcare innovation.
• [07:15] Discover Northwell's investment process and selection criteria.
• [11:25] Why Northwell prefers to invest in companies it would use itself.
• [12:30] Find out how Northwell complements traditional venture capital investors.
• [16:46] Understand Richard’s perspective on the neurotech market.
• [19:29] Hear why Northwell invested in Cognixion and its evolving platform.
• [21:43] Explore Northwell’s view of invasive versus non-invasive BCIs.
• [26:36] Learn about Northwell’s latest neurotech investments.
• [31:31] Understand how Northwell supports companies through FDA and reimbursement.
• [32:50] Discover how AI is reshaping healthcare operations and medtech.
• [37:03] Richard’s advice for founders seeking strategic investors.
• [39:33] Final takeaways and how to connect with Northwell Holdings.

Links Mentioned in Today’s Episode:

Richard Mulry on LinkedIn

Northwell Holdings

Northwell Holdings on LinkedIn

Northwell Health

Northwell Health on LinkedIn

Feinstein Institutes for Medical Research | Northwell Health

Cognixion

Neuvotion

Spark Biomedical

OhmBody

SetPoint Medical

Adam Fraser on LinkedIn

Omniscient Neurotechnology

The Business of Neurotech Podcast

What does it take to build a BCI company around better hardware, stronger data, and a long-term view of how the brain will be decoded? In this episode of The Business of Neurotech, host Adam Fraser is joined by Nicolas Vachicouras, CEO and co-founder of Neurosoft Bioelectronics, to discuss his path from microelectronics and nanotechnology into the BCI space, and how Neurosoft is developing soft, stretchable electrodes designed to sit on the brain surface rather than penetrate it. Adam and Nicolas discuss the technical and commercial thinking behind Neurosoft’s strategy, how the company has moved from early academic work to first-in-human studies, and why platform thinking now matters more than pursuing a single indication. They also discuss fundraising in Europe versus the US, why BCI still needs high-quality invasive data to unlock future breakthroughs, how the partnership with Science Corp fits into the wider BCI value chain, and why Nicolas believes the field will likely support several major players over time. Tune in now!

Key Points From This Episode:

• [01:25] Nicolas’ backstory and how his studies led him into BCI.
• [03:17] See how Nicolas first started thinking about commercialising neurotechnology.
• [05:56] Explore what Neurosoft is building and the core idea behind its approach to BCI.
• [07:43] Understand how Neurosoft’s approach differs from typical BCI technology.
• [09:17] The different levels of invasiveness in BCI and how this impacts data quality.
• [11:38] Neurosoft’s progress and how the roadmap to clinical trials is taking shape.
• [15:15] Learn how Neurosoft’s focus has evolved from tinnitus towards a broader strategy.
• [17:40] Find out whether mental health is part of Neurosoft’s long-term plan.
• [18:52] Unpack Neurosoft’s funding journey and what Nicolas has learnt along the way.
• [21:19] Discover why Neurosoft is starting with the US market, instead of Europe.
• [22:28] Why funding in a market where competitors have more capital is not an issue.
• [24:00] Examine how the partnership with Science Corp fits into Neurosoft’s long-term goals.
• [28:27] How BCI fits into the broader neurotech ecosystem and the future market of BCI.
• [30:59] Uncover why reimbursement remains such an important challenge for BCI.
• [32:39] Hear how Nicolas thinks about building a team for a long-term goal. 
• [36:14] Final takeaways and how to connect with Nicolas and Neurosoft Bioelectronics.

Links Mentioned in Today’s Episode:

Nicolas Vachicouras

Nicolas Vachicouras on LinkedIn

Neurosoft Bioelectronics

Science Corp

Adam Fraser on LinkedIn

Omniscient Neurotechnology

The Business of Neurotech Podcast

What does it take to build a brain measurement company from the ground up and turn neuroscience into a scalable service? In this episode of The Business of Neurotech, host Adam Fraser is joined by Ryan Field, CEO of Kernel, to talk about what it means to build brain technology in an emerging market. Adam and Ryan discuss Ryan’s path from electrical engineering and sensing technology into neurotech, and how Kernel has evolved from an early invasive BCI vision into a company focused on non-invasive brain measurement. They also explore how Kernel is building a platform across different applications, the company’s funding journey, the promise and limits of invasive BCI and why whole-brain measurement may matter more than many investors currently realise. Tune in for a look at Kernel’s strategy and the broader business logic shaping the next phase of neurotech.

Key Points From This Episode:

• [01:10] Discover Ryan’s backstory and how his career led him into neurotech.
• [04:44] How his interest in engineering and biology pulled him towards the brain.
• [06:30] What made neurotech feel like an emerging space when he joined Kernel.
• [07:22] Understand Kernel’s original vision and how the company has evolved.
• [12:25] Why Kernel is focused on becoming a foundational measurement layer for the brain.
• [13:22] Find out about Bryan Johnson’s role at Kernel and how he has shaped its direction.
• [16:34] How Ryan sees his role in Kernel and why it feels like more than a typical CEO job.
• [18:10] Unpack Kernel’s funding journey and why Bryan’s backing was so important.
• [20:19] Learn why the brain represents a major risk for investors in neurotech.
• [21:20] Examine how Kernel is turning neuroscience into a scalable service for customers.
• [24:01] Kernel’s approach to commercialising across research, longevity and wellness.
• [27:28] Uncover how Kernel is working with pharma and aiding drug development.
• [30:07] Hear Ryan’s view on the recent surge in funding for invasive BCI companies.
• [33:43] Whether neurotech is heading toward a few big winners or many niche companies.
• [36:24] Final takeaways and advice on how to keep a team aligned and motivated.

Links Mentioned in Today’s Episode:

Ryan Field on LinkedIn

Kernel

Bryan Johnson on LinkedIn

‘A compact time-domain diffuse optical tomography system for cortical neuroimaging’

Blueprint

Adam Fraser on LinkedIn 

Omniscient Neurotechnology 

The Business of Neurotech Podcast 

How do you turn neuroscience ideas into real businesses without losing sight of the science? In this episode of The Business of Neurotech, host Adam Fraser sits down with neuroscientist, author, podcaster, entrepreneur, and Stanford educator David Eagleman to explore his journey across academia and neurotech startups. David discusses how he shifted from running a traditional neuroscience lab to building ventures in sensory substitution, digital cognitive assessment, and companion robotics, and delves into what he has learned about markets, investors, regulation, and founder decision-making along the way. Adam and David also discuss why some neurotech ideas struggle to find the right market, the balance between wellness and regulated health technology, and why the next wave of BCI may go beyond metal electrodes. Tune in to hear David’s take on building in neurotech, where the field is heading, and what it really takes to turn big ideas into lasting companies.

Key Points From This Episode:

• [01:28] Discover David’s backstory, what he is doing today, and how he divides his time.
• [03:53] How investors view backing David as a founder with the many commitments he has.
• [04:58] Hear how David decides where to invest his time across neuroscience and neurotech.
• [07:02] Learn what Neosensory was built to do and the thinking behind sensory substitution.
• [10:00] Find out if Neosensory was ahead of its time and about the market hurdles it faced.
• [13:45] Explore his opinion on non-invasive neurotech versus invasive brain interfaces.
• [15:04] What BrainCheck solved and how it became a digital cognitive assessment platform.
• [19:00] Uncover what Jojo Health is building and what got him into companion robotics.
• [24:40] Unpack the main commercial themes across David’s different neurotech ventures.
• [27:33] David shares what he has learned about fundraising, venture capital, and regulation.
• [31:00] Understand how David made the jump from academia into startup life.
• [33:35] Advice for new neurotech founders and what they should take into consideration. 
• [37:41] Insights into where neurotech is heading next and how to connect with David. 

Links Mentioned in Today’s Episode:

David Eagleman

David Eagleman on X

David Eagleman on Facebook

David Eagleman on Instagram

David Eagleman on LinkedIn

David Eagleman on TikTok

David Eagleman on Bluesky

Inner Cosmos Podcast

Stanford University

BrainCheck

Jojo Health 

Science Corporation

Subsense

Adam Fraser on LinkedIn

Omniscient Neurotechnology

The Business of Neurotech Podcast