Offering a wide range of shared services, operational expertise, and senior executive mentoring, incubators are catching on in the medical device industry, helping to jump-start what might otherwise be a sluggish new-company creation. As they mature, incubators are also increasingly forging formal ties with venture funds, to help ensure that their early-stage projects will get funding at least through Series A. Indeed, the connection between incubators and private financing has always been strong, though the current dismal financing climate for medical device firms offers only a partial explanation for the growth of incubators. Incubators are also finding a place because of the need on the part of big companies to replenish product pipelines, providing both a source of new technology and, at the same time, an alternative to big-company efforts to develop new products from external sources. Though they share some common characteristics, the range of models and approaches taken by different incubators actually varies quite broadly, as a closer look at several of them shows in this second of a two-part series.
by David Cassak
As we noted last month in our introduction to the first part of
this series, over the past couple of years, medical device
incubators have sprung up almost as fast as the companies they're
helping launch. In part, the growth of incubators can be explained
by the difficult financing environment that medical device
companies have gone through over the past several years—but
only in part
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Mirvie launched Encompass, a blood test to help identify women over age 35 who are at moderate risk for preeclampsia, and will conduct additional studies to support reimbursements from payers.
