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MedTech IGNITE, an initiative of the
Massachusetts Medical Device Industry Council (MassMEDIC), is the premier program in Massachusetts for nurturing medical device entrepreneurs at the early
stages of their company's conceptualization, formation and development. As the only program to focus solely on medtech
startups, we aim to increase the number and sustainability of early stage medical device companies in
New England by providing targeted, industry-specific, one-on-one coaching to medtech entrepreneurs.
Entrepreneurs accepted into this free program will be matched with a medical device CEO or senior executive who will serve as the entrepreneur's personal coach through an 8- to 16-week process designed to help each entrepreneur hone his or her business model and build a compelling case to present to potential investors, advisors, strategic partners, and employees.
The goal of the panel presentation is to test the assumptions of the entrepreneur's business model and to identify modifications. In addition to providing constructive feedback on the business model, market assumptions, and sales strategies, panelists will also suggest critical next steps for the organization.
Following the panel presentation, the entrepreneur and mentor will collaborate on devising a comprehensive plan to meet the company's goals for the ensuing six to eighteen months. Once the plan is complete, the entrepreneur and coach will decide on their level of involvement moving forward. Throughout the process, MassMEDIC and the IGNITE team will provide ongoing support via online resources and events.
Entrepreneurs accepted into this free program will be matched with a medical device CEO or senior executive who will serve as the entrepreneur's personal coach through an 8- to 16-week process designed to help each entrepreneur hone his or her business model and build a compelling case to present to potential investors, advisors, strategic partners, and employees.
Once the case is
fully developed, the entrepreneur will present the business model to a customized panel of industry experts,
representing all functions critical to a company's success, including: financing, human resources, corporate and patent law, regulatory and marketing.
The goal of the panel presentation is to test the assumptions of the entrepreneur's business model and to identify modifications. In addition to providing constructive feedback on the business model, market assumptions, and sales strategies, panelists will also suggest critical next steps for the organization.
Following the panel presentation, the entrepreneur and mentor will collaborate on devising a comprehensive plan to meet the company's goals for the ensuing six to eighteen months. Once the plan is complete, the entrepreneur and coach will decide on their level of involvement moving forward. Throughout the process, MassMEDIC and the IGNITE team will provide ongoing support via online resources and events.