The Medtech Innovation Podcast

I'm joined by Dennis Lenard, design expert and CEO of Creative Navy, as we explore the critical role of evidence-based design in creating successful medical devices and interfaces. With 15 years of experience in medical interface design, Dennis shares insights on how startups can leverage design to compete with incumbents and create better user experiences in healthcare.

In this episode, we breakdown:

The Evolution of Medical Device Design 

→ Origins of ergonomics in medical devices 

→ Why incumbents often struggle with GUI design

→ How design can level the playing field for startups 

→ The intersection of function and aesthetics in medical interfaces

Evidence-Based Design Framework 

→ The three pillars: gathering facts, decision-making process, and culture 

→ Why invalidation trumps validation in design 

→ Using complexity analysis to improve interfaces 

Starting Design Early in Product Development 

→ When to begin thinking about GUI design 

→ Low-fidelity prototyping techniques 

→ The iterative nature of interface development 

→ Balancing functionality with user experience

Competing with Incumbents Through Design 

→ Why large companies struggle with innovation 

→ How startups can exploit design opportunities 

→ The importance of user-centered development 

→ Breaking through market barriers with better design

Practical Design Implementation 

→ Managing interface complexity 

→ Making decisions about icons versus text 

→ International considerations in GUI design 

→ When to bring in professional design help

Best Quotes: 

"Design is a death trap if you don't do it right... design actually means doing something on purpose in a particular way to achieve a desired effect."

"We create designs with the intent of destroying them, just like in science where you formulate the theory and then try to disprove it. You're not validating it... nobody has ever validated anything, you can only invalidate something."

"Beauty without meaning is nothing... if you have meaning in something, it evokes an emotional response, it makes people bond with it."

Want more insights on medtech innovation?

Press the subscribe button to unpack hot takes and insider tactics from the trenches of medtech startups.

FIND DENNIS LENARD ON SOCIAL 

LinkedIn: linkedin.com/in/dennislenard
Creative Navy: https://www.linkedin.com/company/creative-navy/
Website: https://creative.navy/work

FIND SPENCER JONES ON SOCIAL
LinkedIn: https://www.linkedin.com/in/spencer-jones-5a008672/
XO Medtech LinkedIn: https://www.linkedin.com/company/xo-medtech

Episode Timestamps: 

0:00 - Introduction to Dennis Lenard and Creative Navy 
2:04 - Dennis's journey into medical interface design 
4:20 - State of the Medtech market and incumbent challenges 
7:40 - The importance of early design concepts 

14:40 - How design helps compete with incumbents 
21:00 - The fundamentals of evidence-based design 
27:30 - When and how to start thinking about GUI design 
38:00 - Using AI and tools in the design process 
41:46 - Making decisions between icons and text 
43:30 - What to prepare before engaging design services

Join Spencer Jones as he sits down with Brad Shirley, Founder and Principal of DCMS Solutions, to explore the nuances of medtech innovation both within large corporations and startups. Drawing from his extensive experience at Cook Medical, Cook Regentec, and Maruho Medical, Brad shares invaluable insights on navigating product development, managing R&D teams, and driving successful innovation in different organizational contexts.

In this episode, we break down:

Corporate Innovation vs Startup Agility 

→ Challenges of innovating within large corporate structures 

→ How Cook Regentec operated as an innovation incubator 

→ Balancing corporate advantages with startup speed 

→ Managing relationships between incubator and parent company

R&D Leadership and Capital Stewardship 

→ Strategies for managing R&D budgets effectively 

→ Importance of being good stewards of capital 

→ Prioritizing projects and making tough decisions 

→ Focusing on critical features in product development

Customer Discovery and Market Validation 

→ Leveraging corporate networks for customer access 

→ Different approaches for startups vs large companies 

→ Building relationships with sales representatives 

→ Strategies for effective physician engagement

Product Management Excellence 

→ Transitioning from engineering to product management 

→ Cross-functional leadership and relationship building 

→ Career growth opportunities in product management 

→ Balancing technical and business responsibilities

Quality Systems and Innovation 

→ Managing quality requirements in different environments 

→ Streamlining documentation processes 

→ Building appropriate quality systems for different stages 

→ Balancing innovation speed with compliance

Best Quotes: 

"It's like I want to go stay in the in-laws' mansion but I don't want them to be there... like I want to take the good, leave the bad." - On managing corporate relationships in innovation

"As my 10-year-old would say, let them cook... you've already got the green light, let them go." - On empowering development teams

"First dollars are way harder than last dollars. Getting to the 50-yard line on your fundraising opens up all sorts of opportunities."

Want more insights on medtech innovation?

Subscribe to unpack hot takes and insider tactics from the trenches of medtech startups.

FIND BRAD SHIRLEY ON SOCIAL 

LinkedIn: https://www.linkedin.com/in/brad-shirley/ 

DCMS Solutions LinkedIn: https://www.linkedin.com/company/dcms-solutions/

Website:https://dcmssolutions.com/

FIND SPENCER JONES ON SOCIAL
LinkedIn: https://www.linkedin.com/in/spencer-jones-5a008672/ 

XO Medtech LinkedIn: https://www.linkedin.com/company/xo-medtech

Episode Timestamps: 

0:00 - Introduction and Brad's Background
5:00 - Corporate Innovation and Cook Regentec 
12:50 - Managing R&D Budgets and Resources 
23:00 - Customer Discovery Strategies 
27:00 - Product Management Journey 
31:00 - DCMS Solutions and Future Plans

In this episode, I'm joined by Paul-Lukas Hoffschmidt, Founder and CEO of Alpha Sophia, who's revolutionizing how medtech companies find and engage their customers. Coming from the world of retail analytics, he brings a fresh perspective on using data to drive commercial success in healthcare.

From hyper-personalization at scale to building trust through content, we unpack the new rules of medtech commercialization.

Episode Breakdown:

The Evolution of Commercial Analytics in MedTech 

→ Why medtech lags behind other industries in commercial analytics 

→ Building a single source of truth for market intelligence 

→ Democratizing data access for early-stage companies 

→ How retail analytics expertise translates to healthcare

Market Research and Customer Discovery 

→ Start commercial planning 1-2 years before regulatory approval 

→ Focus on deep market penetration in smaller segments 

→ Build relationships through scientific/clinical education 

→ Creating multiple touchpoints with target customers

Omni-Channel Marketing in MedTech 

→ Creating content that resonates with busy physicians

→ Leveraging video for trust-building and engagement 

→ Testing and analyzing different marketing channels 

→ Balancing short-term and long-term marketing strategies

Building a Data-Driven Go-to-Market Strategy 

→ Hyper-personalization at scale through data 

→ US market becoming primary launch target globally 

→ Traditional sales strategies becoming less effective 

→ The importance of standing out in a crowded market

Key Lessons for MedTech Innovators 

→ Do extensive customer discovery before building 

→ Focus on going deep before going wide 

→ Create compelling, personalized stories 

→ Don't wait for perfect scalability - do what works now

Want more insights on medtech innovation?

🚀 My FREE 5-day email course to learn how to go from Vision to Funded medtech startup: https://xomedtech.com/free-course

Get actionable insights on: 

→ Zeroing in on your billion-dollar problem 

→ Navigating the regulatory maze like a pro 

→ Mastering lean product development 

→ Crafting your healthcare economics value story 

→ Building a thriving medtech company

🎯 Join our exclusive community where medtech innovators build together: https://xomedtech.com

FIND PAUL-LUKAS ON SOCIAL

LinkedIn: https://www.linkedin.com/in/paul-lukas-hoffschmidt 

Alpha Sophia: https://www.alphasophia.com

Episode Timestamps: 

0:00 - Introduction to Paul-Lukas and Alpha Sophia 

10:20 - Market research and customer discovery 

18:30 - Sales and marketing cheat codes 

23:00 - Content marketing and brand building 

28:30 - Trends to win in medtech

36:52 - Closing thoughts

F Javier Perez from MedTech Digest and I are joined by David Narrow, Co-founder and CEO of Sonavex, where we explore the journey of building innovative medical devices, navigating regulatory approvals, and transforming dialysis care.

In this episode, we break down:

The Journey from Academia to MedTech Entrepreneurship
→ Spinning technology out of Johns Hopkins University
→ Building the right team and securing early validation
→ Transitioning from biomedical engineering to business leadership

Revolutionizing Dialysis Care with AI-Enabled Ultrasound
→ Understanding the critical need for better vascular access
→ How EchoMark and EchoSure work together to improve outcomes
→ Reducing catheter dependency from 7 months to weeks

Navigating CPT Codes and Reimbursement
→ Starting the process at the right time with clinical trials
→ Building relationships with specialty societies
→ Understanding the non-meritocratic nature of coding approval

Securing $24M in Funding During Tough Market Conditions
→ Working backwards from potential exits
→ Building comprehensive data rooms and economic models
→ Maintaining relationships with investors through milestones

Platform Technology and Future Applications
→ Expanding beyond initial use cases
→ Development of needle guidance technology
→ Leveraging grants for new product development

Best Quotes:

"It's not about how much you know, but how well you can apply, test, and iterate on that knowledge in the real world."

"What blew my mind was that 1% of the entire federal government budget is spent on dialysis care."

"An organized oligopoly is essentially a monopoly."

"First dollars are way harder than last dollars. Getting to the 50-yard line on your fundraising opens up all sorts of opportunities."

Want more insights on medtech innovation? Press subscribe to unpack hot takes and insider tactics from the trenches of medtech startups.

📈 Ready to accelerate your medtech journey? Join XO Medtech - the #1 network for medtech innovators: https://xomedtech.com

FIND SPENCER JONES ON SOCIAL LinkedIn: https://www.linkedin.com/in/spencer-jones-... XO Medtech LinkedIn: https://www.linkedin.com/company/xo-medtech

FIND DAVID NARROW ON SOCIAL LinkedIn: https://www.linkedin.com/in/david-narrow Sonavex LinkedIn: https://www.linkedin.com/company/sonavex Sonavex: www.sonavex.com

FIND F. JAVIER PEREZ ON SOCIAL
LinkedIn: linkedin.com/in/francisco-javier-perez-cfa
MedTech Digest: https://themedtechdigest.com/

Episode Timestamps: 
0:00 - Introduction to F. Javier Perez
3:45 - The Academic to Entrepreneur Journey 
6:00 - Understanding the Dialysis Market 
12:45 - Navigating CPT Codes and Reimbursement 
14:45 - Fundraising Strategy and Market Access 
24:20 - Study Details
31:32 - Future Applications and Pipeline Development

I'm joined by Steve Maxson, a 20-year medical device manufacturing veteran and Innovation Lead at US Extruders, as we explore the future of balloon-based therapies and the evolution of medtech manufacturing. Steve shares insider knowledge on emerging technologies that are transforming cardiovascular care and reshaping how we think about medical device development.

In this episode, we breakdown:

The Next Wave of Balloon-Based Technologies 

→ How integration of electronics and balloons is revolutionizing treatments 

→ Why new energy delivery methods are attracting billion-dollar acquisitions

→ Deep dive into cryo, RF, and pulse field ablation approaches 

→ The engineering challenges of combining soft materials with electronics

Mastering Medical Device Manufacturing 

→ Critical collaboration strategies between contract manufacturers 

→ How metallization on balloons is changing the game 

→ Breaking down technical barriers in profile reduction 

→ Why design for manufacturability can make or break your startup

Navigating Contract Manufacturing Relationships 

→ Why transparency trumps secrecy in early development 

→ Common pitfalls startups face when selecting partners 

→ The hidden advantages of mid-sized manufacturers 

→ How to structure your RFQ process for success

Market Insights & Future Trends 

→ Why neurovascular is the next big frontier 

→ How outpatient migration is driving innovation 

→ The evolution from cardiovascular to neurovascular applications 

→ Emerging opportunities in visualization and sensing

Building Technical Credibility 

→ The power of specialized technical content 

→ Why depth beats breadth in medtech marketing 

→ Building trust through expertise sharing 

→ Engaging with sophisticated audiences

Best Quotes:

"Adding sensors to balloons, adding cameras to balloons... you're going to see more and more devices mounted to the body of balloons. It really is next level."

"Don't try to be too cute on the timeline... these aren't investors. Just be completely honest, be like 'yeah this is our timeline.' If it's fundraising dependent just tell them that - they understand, they're running businesses."

"I am much more in the hack and harvest camp where you're like 'hey let's see if we can get some stuff, cut it open, glue it together, make it work' because I feel like it's such an application - nothing's static, balloons are moving, they're flexing, they're bending, they're inflating."

Key Insights for Innovators:

• Start with hack-and-harvest prototypes before full-scale development
• Share therapy details early with manufacturing partners
• Consider mid-sized manufacturers for better startup support
• Build design for manufacturability into early development
• Focus on scalability in initial designs

Want more insights on medtech innovation and development? Subscribe for weekly deep dives with industry leaders.

FIND STEVE MAXSON ON SOCIAL LinkedIn: linkedin.com/in/stevemaxson1 Steve’s podcast: www.youtube.com/@stevemaxson1

FIND SPENCER JONES ON SOCIAL LinkedIn: https://www.linkedin.com/in/spencer-jones-... XO Medtech LinkedIn: https://www.linkedin.com/company/xo-medtech

Episode Timestamps: 

0:00 - Introduction & background 

2:15 - Balloon-based energy delivery deep dive 

7:00 - Clinical use cases

14:08 - Contract manufacturing collaboration examples 

18:35 - Future market trends discussion 

23:50 - Technical content marketing insights 

27:35 - Advice for medtech startups

In this episode, I'm joined by Kat Weaver, founder of Power To Pitch and a successful entrepreneur who scaled and sold her first company she started in her college dorm room. With an impressive track record of winning 22 out of 23 pitches, Kat now helps founders craft winning pitch decks and fundraising strategies.

In this episode, we breakdown:

The Art of Effective Communication 

→ Why pitching is a learnable skill, not just natural talent 

→ The importance of practice and preparation

→ Pitch scripts and boosting memorization 

→ Common mistakes in pitch delivery and presentation

Key Components of a Winning Pitch 

→ Why starting with a compelling story and problem statement matters 

→ The role of metrics and data in grounding your pitch 

→ How to handle pitch decks vs. verbal delivery 

→ Navigating Q&A sessions effectively

The Four Essential Founder Qualities 

→ Coachability: Being open to feedback and improvement 

→ Transparency: Being honest about struggles and challenges 

→ Grit: Persistence through the fundraising journey 

→ Passion: Genuine excitement about your venture

Virtual Pitching Best Practices 

→ Managing energy and engagement in virtual environments 

→ Professional presentation setup and background 

→ Technical considerations for online meetings 

→ Adapting communication style for virtual platforms

Fundraising Reality Check 

→ Why venture capital isn't the only path forward 

→ Understanding the statistics of VC funding 

→ Exploring non-dilutive funding options 

→ Strategic considerations before giving away equity

Best Quotes: 

"If you don't have a concise formulation about who you are, what you do, and what you need, then you've already lost."

"An opportunity to pitch is never wasted, ever. You never know who's in the room."

"First dollars are way harder than last dollars. Getting to the 50-yard line on your fundraising opens up all sorts of opportunities."

Want more insights on medtech innovation?

Press the subscribe button to unpack hot takes and insider tactics from the trenches of medtech startups.

FIND SPENCER JONES ON SOCIAL LinkedIn: https://www.linkedin.com/in/spencer-jones-5a008672/ XO Medtech LinkedIn: https://www.linkedin.com/company/xo-medtech

FIND KAT WEAVER ON SOCIAL LinkedIn: https://www.linkedin.com/in/catw-weaver
Power To Pitch: https://powertopitch.com

Power to Pitch Fundraising Program:https://www.powertopitch.com/apply 

Power to Pitch grant Program:https://www.powertopitch.com/grantpower

Recommended Resources:

• "Traction" by Gino Wickman
• "Buy Back Your Time" by Dan Martell
  
  

Episode Timestamps: 

0:00 - Introduction and Kat's journey to becoming a pitch expert

5:40 - Core principles of effective pitching 

7:58 - Hot takes on pitch decks

11:08 - Four qualities Kat looks for in founders 

12:55 - Common pitching mistakes and red flags 

17:30 - Pitch Q&A considerations

21:00 - Spencer gets roasted 

27:08 - Pitching in a virtual world 

31:52 - The formula for an impactful pitch

35:58 - Hot takes on venture capital 
37:37 - Book recommendations and closing thoughts

The Quality Mindset: Unlocking Medtech Success with Kyle Rose

In this episode, Spencer is joined by Kyle Rose, CEO of Rook Quality Systems and expert quality and regulatory consultant, to explore the critical role that quality management plays in medtech innovation and startup success.

Key topics covered:

1. 
   The Importance of Early Quality Integration 

→ Why quality shouldn't be an afterthought in product development 

→ Finding the right balance between speed and compliance 

→ How quality processes can actually accelerate innovation

1. 
   Quality Management for Resource-Constrained Startups

→ Tailoring quality systems to startup needs vs. large company approaches 

→ Leveraging external expertise and scalable solutions 

→ How to efficiently achieve strong compliance

1. 
   The Impact of Quality on Exits and Acquisitions 

→ How acquirers evaluate a company’s quality during due diligence 

→ Planning for international expansion with quality processes 

→ Avoiding post-acquisition quality headaches

1. 
   Evolving Quality Management Systems 

→ The shift from paper-based to electronic quality management systems (eQMS) 

→ Pros and cons of different QMS approaches for startups 

→ Leveraging technology without losing human expertise

1. 
   Building a Culture of Quality 

→ Involving the whole team in quality processes 

→ The founder's role in championing quality 

→ Extending quality mindset to manufacturing partners

Best Quotes: 

"We don't want to slow down development or engineering, we want to keep [you] moving fast… let us handle the quality side and not slow you down.”

“My personal pet peeve is having to go back and redo work - having a quality mindset really prevents that.”

Want more insights on medtech quality and regulatory strategy?

Subscribe to unpack hot takes and insider tactics from the trenches of medtech startups.

Find Kyle Rose and Rook Quality Systems: Website: https://rookqs.com/ LinkedIn: linkedin.com/in/kyle-rose-rook

Find Spencer Jones on social: LinkedIn: https://www.linkedin.com/in/spencer-jones-5a008672/ XO Medtech LinkedIn: https://www.linkedin.com/company/xo-medtech

Episode Timestamps: 

0:00 - Introduction to Kyle Rose and Rook Quality Systems 

3:30 - What is elite quality management?

7:45 - The importance of early quality integration in medtech startups 

11:45 - Kyle’s recommendation for early-stage companies

18:02 - Quality management horror stories and lessons learned 

25:32 - The evolution of quality management systems and eQMS solutions 

30:43 - Rook’s secret sauce

33:33 - How quality impacts exits and acquisitions in medtech

I'm joined by Mark Norton, former Apple Manufacturing Manager and now Founder and CEO of Adele Health, as we explore the journey from tech giant to medtech startup and the challenges of building an innovative diabetes management solution.

In this episode, we breakdown:

1. 
   The Apple Manufacturing Experience 

→ Transitioning from oil rigs to the cutting edge of tech manufacturing 

→ Insights into Apple's meticulous approach to product design and quality 

→ Lessons learned from managing global supply chains during unprecedented events

1. 
   Applying Big Tech Principles to Medtech 

→ Translating Apple's attention to detail into medical device development 

→ The importance of user-centric design in healthcare technology 

→ Balancing aesthetics with medical-grade reliability and accuracy

1. 
   Navigating the Medtech Startup Landscape 

→ Challenges of developing FDA-regulated devices vs. consumer electronics 

→ The critical role of regulatory strategy in product development 

→ Importance of aligning incentives with suppliers and partners

1. 
   Building Adele Health: A New Approach to Diabetes Management 

→ Creating user-friendly glucose monitoring solutions 

→ Leveraging AI and machine learning for personalized insights 

→ Balancing privacy concerns with data-driven health management

1. 
   From Concept to Market: The Medtech Journey

 → Importance of early regulatory planning and pre-submission meetings 

→ Strategies for iterating on hardware and software designs 

→ Building a team that bridges the gap between engineering and healthcare

Best Quotes:

 "When your products are used every day, almost all the time… you have to have that elegant usability, the ruggedness, the durability, the reliability."

"We have a phrase we keep using: we'll just figure it out. And I think that's startups to a tee. You just figure it out."

"Always have a second source of supply. Never be sole-sourced."

Want more insights on medtech innovation?

Press the subscribe button to unpack hot takes and insider tactics from the trenches of medtech startups.

📈 My FREE 5-day course for Medtech Innovators to create successful ventures: https://xomedtech.com/free-course

🤝 Join the #1 network for medtech innovators on the internet. Become a member to accelerate your journey, collaborate and build valuable ventures. Try 7-days completely free: https://xo-medtech.circle.so/checkout/xo-membership

FIND SPENCER JONES ON SOCIAL LinkedIn: https://www.linkedin.com/in/spencer-jones-5a008672/ XO Medtech LinkedIn: https://www.linkedin.com/company/xo-medtech

FIND MARK NORTON ON SOCIAL LinkedIn: https://www.linkedin.com/in/mark-norton-adele/ Adele Health: https://adelehealth.com

Episode Timestamps: 

0:00 - Introduction to Mark Norton and his journey 

2:54 - How to Strategically Approach Product Design 

8:38 - Applying Big Tech Principles to Medtech 

13:42 - Navigating the Medtech Startup Landscape 

18:03 - From Concept to Market: The Medtech Journey

I'm joined by Samantha Wagner, Business Development Manager at Medical Murray, as we explore the journey from R&D engineer to medtech business strategist and the challenges of bringing novel devices to market.

In this episode, we breakdown:

1. Navigating the RFQ Process
    → Essential preparation steps for founders
    → Balancing technical details with business realities
    → The importance of communicating challenges and pain points

   
   

2. The Art of Manufacturer Partnerships
    → Building long-lasting relationships in the medtech space
    → The value of transparency and mutual success
    → How to handle funding cycles and financial constraints

   
   

3. From Concept to Creation: The Development Journey
    → Strategies for effective prototyping and proof of concept
    → Balancing cost, quality, and speed in product development
    → Aligning expectations throughout the process

   
   

4. Avoiding Common Pitfalls
    → Missteps in vendor selection and how to avoid them
    → The importance of on-site visits and thorough vetting
    → Preparing for the inevitable challenges in R&D

   
   

5. The COGS Conundrum
    → Why sharing cost targets is crucial for success
    → How COGS transparency guides development and ensures viability
    → Balancing honesty with business strategy

Top Quotes:

"It's super important to communicate specifics of what your pain points are, what your biggest challenges are... I think that's one part of the RFQ slide deck that you guys have that I think hardly any customer shares with us that I wish pretty much every customer did."

"We're constantly hacking up devices and buying used product or expired product and trying to apply it to new devices or new technologies. That's one of the most cost-effective ways, I think, to prototype.”

"R&D is challenging, and there will be issues. There's going to be unforeseen challenges that come up, and you're going to have to be prepared to overcome those."

Want more insights on medtech innovation?

Press the subscribe button to unpack hot takes and insider tactics from the trenches of medtech startups.

📈 My FREE 5-day course for Medtech Innovators to create successful ventures: https://xomedtech.com/free-course

🤝 Join the #1 network for medtech innovators on the internet. Become a member to accelerate your journey, collaborate and build valuable ventures. Try 7-days completely free: https://xo-medtech.circle.so/checkout/xo-membership

FIND SPENCER JONES ON SOCIAL LinkedIn: https://www.linkedin.com/in/spencer-jones-5a008672/
XO Medtech LinkedIn: https://www.linkedin.com/company/xo-medtech

FIND SAMANTHA WAGNER ON SOCIAL LinkedIn: [https://www.linkedin.com/in/samanthawagneria/

Medical Murray LinkedIn: https://www.linkedin.com/company/medical-murray/
Medical Murray Website: https://www.medicalmurray.com/

Episode Timestamps:

0:00 - Introduction and Sam's background

1:52 - Readiness essentials for the RFQ process

5:24 - Different approaches to development and manufacturing

8:27 - How to set yourself up for success

12:06 - Navigating relationships with suppliers and manufacturers

15:10 - Quality vs Cost

18:48 - Honest communication is key

23:55 - Common pitfalls in the RFQ process

29:06 - The importance of sharing COGS targets

I'm joined by Dr. Josh Ammerman, Founder and CEO of ComboSpine, as we explore the journey from practicing neurosurgeon to medtech entrepreneur and the challenges of building a successful startup in the spine surgery space.

In this episode, we breakdown:

1. The Physician Entrepreneur's Journey
→Transition from clinical practice to medtech innovation
→Importance of surrounding yourself with the right team and resources
→Recognizing the need for business skills beyond medical expertise

2. Navigating the Regulatory Maze
→Building strategic partnerships and avoiding common pitfalls
→The value of a holistic approach to product development
→Importance of considering market dynamics and regulatory constraints

3. Mastering Value Analysis Committees (VACs)
→Evolution of VACs and their impact on purchasing decisions
→Strategies for developing clinical champions
→Tailoring your approach to different hospital contracting models

4. Fundraising in a Challenging Climate
→The importance of storytelling and persistence in pitching
→Value of lead investors and maintaining investor relationships
→Balancing clinical expertise with business acumen in presentations

5. Building a Culture-Centric Startup Team
→Focusing on shared values and work ethic
→Importance of responsiveness and ethical behavior
→Extending company culture to distributors and partners

Best Quotes:
"As a physician entrepreneur, I have absolutely no training in anything but the surgical skills. No one ever taught me how to found a business, how to raise money, how to build a team, pursue intellectual properties, build a business plan. We don't teach doctors how to do that."

"First dollars are way harder than last dollars. Getting to the 50-yard line on your fundraising opens up all sorts of opportunities."

Want more insights on medtech innovation?

Press the subscribe button to unpack hot takes and insider tactics from the trenches of medtech startups.

📈 My FREE 5-day course for Medtech Innovators to create successful ventures: https://xomedtech.com/free-course

🤝 Join the #1 network for medtech innovators on the internet. Become a member to accelerate your journey, collaborate and build valuable ventures.Try 7-days completely free: https://xo-medtech.circle.so/checkout/xo-m...

FIND SPENCER JONES ON SOCIAL
LinkedIn: https://www.linkedin.com/in/spencer-jones-...
XO Medtech Linkedin: https://www.linkedin.com/company/xo-medtech

FIND DR. JOSH AMMERMAN ON SOCIAL
LinkedIn: https://www.linkedin.com/in/joshua-ammerma...
Combospine Linkedin: https://www.linkedin.com/company/combospine/
ComboSpine: www.combospine.com

Episode Timestamps:
0:00 - Introduction to Dr. Josh Ammerman and ComboSpine
4:45 - The Physician Entrepreneur's Journey
9:42 - Navigating the Regulatory Maze
14:55 - Mastering Value Analysis Committees (VACs) and selling into hospitals
23:45 - Fundraising in a Challenging Climate
31:32 - Building a Culture-Centric Startup Team