Launchsmith

?? It's not just what you launch, but how you launch it that can make all the difference. It's the Art of Launching! ?? In the fast-paced world of medtech, creating a memorable product launch can set you apart from the competition. ?? When we help companies launch their innovative technologies, we emphasize the significance of the "moment": Build anticipation and excitement ?? Secure a strong position in your target customers' minds ?? Drive engagement and conversation around your product ??? As highlighted in a recent WSJ article about strategic product launches, it's not just about what you’re introducing, but how you present it! https://lnkd.in/eNkNmECs What strategies have you found effective for product launches in the health sector? Share your thoughts below! ?? #Medtech #Healthtech #ProductLaunch #Launch Excellence #Innovation #MarketingStrategy?

***Overcoming Key Challenges in Launching New Medical Technology Products*** As the medical technology industry rapidly evolves, driven by significant innovations promising improved patient outcomes and enhanced healthcare delivery, launching new products comes with a myriad of challenges. After experiences with about 15 startups and lecturing bioengineering students, I've identified six key challenges and strategies to overcome them: (1) Navigating Regulatory Compliance: Stringent standards from regulatory bodies like the FDA ensure product safety and effectiveness but can delay market entry and increase costs. To address this: >Invest in understanding the regulatory landscape early >Hire or consult with regulatory experts >Establish clear protocols for smoother interactions with agencies (2) Securing Adequate Funding: The health tech sector's growth has intensified competition for funding. To mitigate this: >Develop a strong business case demonstrating potential ROI and realistic market opportunity >Engage with potential funders early >Build relationships with healthcare-focused investors (3) Overcoming Slow Technology Adoption: Healthcare's notorious slow adoption of new technologies can be frustrating for startups. To encourage adoption: >Demonstrate tangible benefits through pilot programs and real-world data >Showcase compelling case studies >Foster relationships with key opinion leaders in healthcare (4) Maintaining Data Privacy and Security: As healthcare technology increasingly relies on data-driven solutions, ensuring robust data protection is crucial. To build secure systems: >Prioritize "security by design" from the outset >Conduct regular audits >Incorporate advanced security measures like encryption and multi-factor authentication (5) Competing for Market Access: Gaining market access and securing reimbursement can be complex and time-consuming. To address this: >Develop a robust reimbursement strategy as part of the business plan >Collaborate with healthcare institutions to conduct cost-effectiveness studies >Gather data to support claims for reimbursement (6) Recruiting Talent with Specialized Skills: Finding individuals with both technical expertise and healthcare sector knowledge can be challenging. To overcome this: >Seek help from experienced consultants and advisors >Focus on hiring key roles once the business model shows momentum >Collaborate with educational institutions for internship and co-op programs Launching new medical technology products requires strategic planning, collaboration, and investment in innovative approaches. The most successful startup I worked with was run by seasoned founders who always sought additional opinions and expertise when needed. The key takeaway: in this complex environment, don't hesitate to seek outside expertise for advice, strategy, and initial momentum. #LaunchExcellence #MedTech #HealthcareInnovation #Startups #MedicalDevices #HealthTech

Just wrapped up an exciting pitch competition judging session with the bioengineering graduate students in Clemson University's Medical Device Commercialization class! ?? As an industry partner, it was incredibly rewarding to see the students' innovative medical device ideas and their passion for solving real-world healthcare challenges. The creativity and entrepreneurial spirit these future biomedical engineers brought to the table was truly impressive. ?? I was blown away by their thoughtful product designs, thorough market analysis, and impressive presentation skills. Choosing the winning pitches was no easy task! It's so valuable for students to get this kind of real-world experience pitching to industry professionals. ?? Events like this are a great way for us to identify top talent and foster the next generation of biomedical innovators. Can't wait to see what these students accomplish next! ?? #MedicalDevice #Bioengineering #Entrepreneurship #Clemson #PitchCompetition #FutureTalent #LaunchExcellence

Excited to be working on new projects with Midi Health. Here is their announcement on their recent $60M funding! https://lnkd.in/eyJqGHmA #launchexcellence

I am thrilled to see how AI toolsets are transforming the launch of health tech products, allowing for accelerated product development and invaluable insights for targeted market penetration, personalized outreach, and strategic pricing. At Launchsmith, we are experimenting with AI tools to maximize product launches and optimize go-to-market strategies for our clients. If you want to learn more about how AI can help you with your product launch, check out https://lnkd.in/e_AKhHqp. #HealthTech #AIinHealthcare #LaunchExcellence