The medical care industry is rapidly expanding due to the largest segment of the population aging and requiring medical assistance. This has led to many companies working on developing new medical devices that will improve care and allow patients to get the treatment they need at reasonable and affordable prices. Developing these new medical devices can be very expensive though, so manufacturing incubators and development centers backed by investors and venture capitalists have formed to assist in the process.
Who is helping?
For companies who are working on new innovative medical devices, there are many options available to get assistance for funding and product development. Manufacturing incubators are one option for help. These incubators can provide the cash and expertise to manage the process of developing and releasing new medical devices. By working with these incubator groups, costly mistakes in development can be avoided as they have the experience in getting new medical device hardware to market. One example is Bolt, a venture capital firm and manufacture incubator that is designed to help medical device startups with their early stage hardware and software development.
Another option is working with a university development center. One such development center is M2D2 – the Massachusetts Medical Device Development Center which is an UMass Lowell-UMass Worcester initiative that works with medical device developers to move medical device ideas from patent to production. By working with M2D2 companies and entrepreneurs get access to state-of- the-art facilities and equipment that they may normally not be able to use. They also provide access to experienced staffers who can provide guidance in prototyping and product development, and business feasibility among other areas.
EnterpriseWorks is another university owned development center operated by the University of Illinois to help launch startup companies. Its clients have been based in the biotechnology, chemical sciences, software development and materials sciences industries. With a 43,000 SF incubator facility with labs, offices and common space, all the needs of startup entrepreneurs can be met.
Northeastern University also has a student-led venture accelerator called IDEA that supports entrepreneurs in the Northeastern community. Resources available include gap and prototype funding, as well as support from an entrepreneur in residence, and an investor network who are available to advise and finance ventures. Clients they work with are from a variety of industries including software, food and beverage, and consumer products among many others.
Techprint and Medical Device OEMS
At Techprint we work with OEMS in the medical device market. Medical device customers account for almost half of our business, giving us the experience and capabilities to provide custom products for all OEMS, both new startups and established manufacturers. We have the in-house manufacturing equipment capable of building prototypes and all of the equipment for full-scale production. From product concept development through the entire product lifecycle, we can provide the assistance you need to make it a success. Contact us here for more information on the high quality products we can provide and the services we offer.