Founding a Medtech startup
Medtech is one of accent's core technology areas. We support medical technology startups, founding teams and innovators. Already an important pillar of healthcare and the economy, the importance of Medtech is being increased by technological progress and demographic changes.
As accent, we support founders in the Medtech sector with individual coaching, know-how and a broad network.
The founding of a Medtech startup focuses on a technical innovation that offers added value for patients – at the same time, aspects ranging from financing and the legal framework to the specific technological challenges must be taken into account. Product development, business development, on-boarding of pilot customers, investor search, intellectual property protection, marketing, supplier search – a variety of topics that challenge the founding team.
Challenges in founding a Medtech startup include complex regulation, high development costs, and difficult market access with reimbursement.
Medical devices are subject to strict and changing regulations, such as the EU Medical Devices Regulation (MDR). Startups must meet the same validation and compliance standards as large enterprises, but have fewer staff and expertise in-house. Approval processes can be time-consuming and costly.
Even after successful approval, market entry is a particular hurdle. Startups must prove clinical efficacy in order to gain the acceptance of doctors, hospitals and, above all, payers (health insurance companies). The negotiations on inclusion in the cost reimbursement systems are complex and lengthy.
accent is the high-tech incubator of the province of Lower Austria. In addition to its competence and many years of experience, the accent team also brings a high degree of commitment and passion for accompanying the founding team on their way to becoming the next business champion.
Selected experts will provide input on various startup-related topics such as marketing and sales, corporate law, financial planning, storytelling, trade law and the commercial register or dealing with financial investors.
Annual highlights include the accent Cross-Innovation Summit and the accent Boot Camp with Gigi Wang (University of Berkeley), during which founders spend a full week working on their business model, strategy, storytelling and presentation.
