I believe that the future of ortho startups will be completely different from what we see today. These companies will be unrecognizable to us.
Picture this: no need for offices, no need to raise massive money, and no need to hire a bunch of people.
What has changed? Two enabling factors are driving this shift.
First, the industry now boasts a wealth of fantastic professionals who are eager to build something meaningful without the constraints of full-time employment. These experts are seasoned, passionate, and ready to contribute their skills on a flexible basis. Second, the advent of powerful new business tools makes it possible to run a fully virtual company efficiently and effectively.
In the mid-2020s, future ortho startups will capitalize on these changes by leveraging consultants and virtual teams. This approach allows them to move seamlessly from idea to product concept, to regulatory clearance, and beyond. The traditional startup model, with its heavy reliance on physical infrastructure and large teams, is becoming obsolete.
I foresee that the only full-time employees (FTEs) necessary for these future startups will be a trio: a CEO, a Clinician, and a capital allocator. These three roles are crucial for steering the company in the early years, ensuring clinical relevance, and managing financial resources.
All other functions—such as prototyping, IP, R&D (Mechanical, Software, Electrical, etc), Corporate Structure, Marketing, Supply Chain, Quality, Regulatory, Compliance, Warehousing, Logistics, Billing, Inventory management, Data intelligence, Clinical, and Sales—will be handled by virtual experts.
I totally see this new future. The traditional 9-to-5 at med device companies is outdated and clunky. Flexibility is the new norm. People want freedom, not a clock to punch. The future is about results, not hours. Adapt or get left behind.
Moreover, there’s buzz within the BoneChat community about creating a BoneChat Accelerator service. This service would aim to catapult startups to success without the need to raise tens of millions of dollars. Imagine a platform where startups can access top-tier expertise and resources, all while maintaining a lean operation.
This model not only reduces overhead costs but also increases agility, allowing startups to pivot quickly in response to market demands or regulatory changes. It fosters a culture of innovation, where the best minds collaborate across geographies, unbound by traditional employment constraints.
In summary, the future of ortho startups is bright and fundamentally different. By embracing a virtual, consultant-driven model, these companies can achieve their goals more efficiently and cost-effectively. The industry is on the brink of a transformation that will redefine how we think about startup operations and success.
What are your thoughts ?
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What are your thoughts ?