Sponsorship Benefits – Speed to Market
Speed to Market —New products conceived in the profession, screened by experts and developed by world-class medical product designers.
Need for Quick Hits – Some medical devices require tens of millions of dollars and many years of research to develop solutions to scientific problems. Given the “time value of money” constraints, only blockbuster products can be pursued with this model. Products conceived in the profession that require little R&D and minimal regulatory review, like 510(k) registrations, offer quick-hit opportunities to increase revenues and profits with solid return on investment. The investment required is relatively small while the return is generated much quicker.
Serendipity is often credited for great seemingly “accidental medical breakthroughs”. Yet in almost every case of “accidental innovation”, it was the knowledge, education, preparation and persistent inquiry pursued by the inventor that led to the accidental discovery. The inventor had to be able to recognize the value of the phenomenon she encountered and how it could be applied. The highly educated, bright and passionate medical professionals are uniquely positioned to identify problems in healthcare delivery and discover the solutions that match the specific needs. We believe that many of the medical problems to be solved have, already been encountered regularly and identified within the profession. As such, it is likely that inventive people in the medical profession have already conceived of the potential solutions.
The access created by a motivated Inventor network allows us to source the best solutions that already exist from the most creative minds in the profession and match them to companies targeting specific areas for improved performance and growth. Leveraging the power of a broad network, Eureka can move with speed and flexibility to identify and commercialize the best of the new medical products to address the rapidly changing medical supply market. To the extent that serendipity is a major factor in innovation, having a broad network of motivated inventors to draw from, increases the probability of identifying high value targeted innovation rapidly, resulting in a reduction in the development cycle time.
Contact our business development team for a presentation to learn more about our unique Medical Innovation Sourcing Services:firstname.lastname@example.org
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