I am about to offend a few of my Orthopedic colleagues, but I have to be honest. This is how I see it.
Many Orthopedic startups are taking in too much money too early.
I have noticed a pattern. Many orthopedic startups become infatuated with their ability to raise large sums of money (tens of millions or even hundreds of millions) before they have accomplished anything. They act big before they have earned the right to act big. They become wasteful with decisions and instill bad financial behaviors. They build out a company before they have real sales. They become drunk with cash.
Then for years, they spin their wheels without getting traction.
Many guilty orthopedic startups come to mind (this is where I offend people) - Moximed, ConforMIS, Benvenue Medical, Spine Wave, Omni, OrthoKinematics, OrthoSensor, SINT/Amedica, Baxano, Conventus, SpinalMotion, AxioMed, and Vertebron.
A negative side effect of these poor investments is they scare investors from reinvesting in Orthopedics and Spine startups. Once bitten, twice shy. Then when "game-changing" innovation comes along, the chance for funding is low because good investors have been gutted by failed incremental inno...
