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The First Million Bucks

Dan Edwards from Sagentia looks at how medical device companies can achieve the best value from the first million euros they typically invest in front end innovation on a device development - article taken from European Medical Device Technology (EMDT), February 2011.

Medical device companies spend about 1 million euros at the front end of every device development project to get to a product concept that they believe in (at least on paper).

Some spend it better than others. Although everybody agrees that innovation is a major contributor to competitive edge, it doesn't follow that everybody does it well.

Some organisations are innovation sophisticates, whilst others struggle to make sense of how to nurture opportunities into strong product concepts that warrant further investment. Sophistication is required of both market and technology research methods.

Importantly, being good at one is no indicator of being good at the other. So, how can a medical device company achieve the best value from its first million euros?

Download the full article from the European Medical Device Technology (EMDT) website or the PDF article