Saving and improving lives
Genesys is proud to be organising and sponsoring the NSW Active MedTech Community, which was launched today. The mission of the new community is saving and improving lives by making it easier to develop medical devices with electronics and software.
MedTech entrepreneurs face steep learning curves in multiple disciplines required to develop a product. To help reduce the learning curve for entrepreneurs, the community will run a series of thought leadership webinars and events with expert MedTech service providers.
The first activity of the community was a MedTech Hypothetical session. The session showcased an early-stage startup and aimed to identify critical success factors for taking the project forward.
The case study was on MOSkin, a radiation dosimeter technology was developed by the Centre for Medical Radiation Physics at the University of Wollongong and is being commercialised by Electrogenics Laboratories.
During the panel session at community launch, Genesys CEO Geoff Sizer offered a key piece of advice - that the developers have an early focus on how their regulatory obligations will affect their technical design process. In particular, Geoff recommends implementing design controls as early as possible. This means that any early prototyping work can contribute to the pathway toward regulatory compliance, significantly reducing the overall development costs of the product.
Unfortunately, according to Geoff, many entrepreneurs are given completely the opposite advice by some consultants, who are wedded to a minimum viable product approach that does not necessarily work well in a MedTech environment.
There is a perception that developing active MedTech products such as MOSkin is hard – so hard that it scares off a lot of people with otherwise great ideas. The community is seeking to change that perception by identifying critical success factors in the disciplines required for successful MedTech commercialisation.
Genesys encourages anyone involved in the MedTech industry, from any discipline, to join the NSW Active Medtech community.