As many as four out of five medtech companies in Ireland are a startup or SME. Medtech is the most innovative industry in Europe with nearly 14,000 patents filed with the EPO in 2019. The role of startups is different in the medtech community compared to other industries. The medtech innovation cycle is led by startups identifying an unmet clinical need and market opportunity. If the product is sufficiently innovative and differentiated from the competition, then following proof-of-concept and device development they can start to attract funding. There are several key milestones in the lifecycle of a medtech startup with a funding injection needed at each stage to get to the next, or risk the business failing. The Irish Medtech Association acts to ensure Ireland remains a location of choice for developing disruptive, life transforming medical technologies and to help startups scale, by seeking more funding and supports for this community.
How to get involved / Working Groups
Medtech Brew is a forum co-hosted by the Irish Medtech Association and BioInnovate Ireland to help startups get insights from industry experts, share best practice and network. It explores themes such as the journey to your first sale, access to funding, building your leadership team for success, as well as innovation and clinical collaboration.
Who should get involved? Entrepreneurs and business leaders
Irish Medtech Association Senior Executive Ciara Finlay (email@example.com)
The Irish Medtech Entrepreneur CEO Circle was established in 2017 to support likeminded individuals and offer members the opportunity to connect and share their experiences and lessons learned from their start-up journeys. Discussions focus on how to promote and develop measures needed for success in an informal, casual setting.
Who should get involved? CEOs, founders and co-founders of indigenous medical device, diagnostics, and connected health start-ups.
Irish Medtech Association Director Sinead Keogh (firstname.lastname@example.org)