“We turn your ortho ideas into products”.
The orthopedic industry is evolving rapidly, and your innovative ideas deserve to keep pace. The Big Orthos will not move your new product ideas forward. They will have you sign contracts, tease you along and put your idea in their black hole development department. Sad but true – the Big Orthos no longer know how to innovate.
Fortunately, there is a solution.
At The Bone Factory, we specialize in transforming your concepts into commercial products through a dynamic, agile approach.
Why The Bone Factory?
- Speed: Quick iterations and honest feedback.
- Expert Network: Access top-tier Engineers, Regulatory, Finance, Marketing, Sales experts who know how to convert your idea into a product.
- Lean: No need for large teams or big funding.
- Virtual Model: Work seamlessly with us, no matter where you are.
- You are in control: You control how far to take your idea – egs: working prototype, patents, cadaver labs, mechanical testing, market testing, regulatory filing, commercialization, spin out a new company, etc.
Ready to bring your idea to life? Let’s connect and explore how we can turn your orthopedic idea into the next breakthrough.
👉 Contact Tiger Buford at tiger@tigerbuford.com to schedule an introductory call.
More background information
Things are changing fast in orthopedics as highlighted in my recent article, “The Speed of Change in Orthopedics is Leaving Us Behind,” the industry is shifting faster than ever before, necessitating a more dynamic innovation structure.
But beyond you and me, the idea of an early stage ortho company itself must be super-adaptive in order to be successful. It’s time to rethink the best way to convert product ideas into real commercial products or a real commercial company.
The traditional business model is not agile enough for today’s environment and relies heavily on permanent full-time employees and is increasingly out of step with the market demands for agility and speed.
The reliance on full-time W2 employees limits the ability to pivot quickly and adapt to new challenges. Instead, future startup businesses need to embrace flexibility by leveraging fractional, part-time SMEs who can come and go. This more nimble model allows for speed and adaptability.
By leveraging this flexible workforce, orthopedic startups can better align with the pace of change, optimize resources, reduce expenses and drive valuations faster.
So let’s dive in.
This proposal outlines the concept of a new Venture Studio / Virtual Incubator design built for today’s fast-moving orthopedic world, that redefines how new product concepts are vetted, developed, and commercialized. For purposes of this writing, let’s call the proposed business, The Bone Factory.
The Vision
The Bone Factory is built for speed, agility, less capital infusion, faster time-to-commercialization, faster ramp to higher valuations.
Rapid Innovation: The ability to quickly iterate on product concepts and adapt to market feedback is a central advantage. By leveraging agile development cycles and a culture that embraces trial and error, startups can accelerate innovation, reduce time-to-market, and save money. This dynamic environment fosters creativity, allowing for continuous refinement and improvement of products based on real-time insights and customer needs.
No Large Full-time Teams: The Bone Factory is built around a core team of two or three essential full-time employees (FTEs): a CEO, a Technical leader and maybe a Clinician. These permanent roles are pivotal in steering the company towards success. This helps with speed and decision making.
The Best of the Best Experts: Surrounding the core team is a nimble network of subject matter experts specializing in Concept Testing, Product Development, Finance, IP, Quality, Regulatory, Clinical, Sales and Distribution, Operations, Logistics, etc.
No Large Scale Funding needed: Startups thrive on strategic capital allocation and lean operations, eliminating the necessity for raising tens of millions of dollars in startup capital.
No Physical Offices: The Bone Factory is not an incubator with a physical location. The need for expensive office spaces and physical infrastructure is obsolete. Work is conducted seamlessly across virtual platforms, bringing the best talent to your project.
The Advantages
The BoneFactory model offers several key benefits for those who want to take a concept to a desired outcome, such as working prototype, or testing, or 510K, or commercialization, or exit.
Benefits:
- faster time to milestones,
- lower expenses per milestone achieved and higher valuation achieved per milestone.
- less overall cash burn,
- agility for quick pivots,
- 100% results-based work,
- M&A facilitation if needed,
- Company creation if needed,
By embracing this virtual, consultant-driven model, The Bone Factory can swiftly adapt to the industry’s rapid pace, optimizing resources and driving innovation without the burden of large full-time employees or massive funding.
This approach allows startups to leverage a network of subject matter experts who bring deep expertise and flexibility, fostering a culture of innovation and enabling startups to achieve their goals more effectively and efficiently.
How it Works
1/ Surgeon with a Product Idea:
If you are an orthopedic surgeon with an idea for a better treatment (product, service, diagnostic, etc.), contact Tiger at The Bone Factory – tiger@tigerbuford.com. The BoneFactory core team will have with an introductory video call where you can share your concept and share what your desired outcomes are (patent, working prototype, testing, regulatory pathway definition, full FDA clearance, go-to-market commercialization plans, etc). We can turn your idea into a product.
2/ Ortho Company with a Product Idea:
If you are an existing orthopedic company (big or small) you have a strong product idea this is not being worked on because of a lack of resources or intense focus in other product areas. Many companies need to outsource a “skunk works” project. Contact Tiger at The Bone Factory – tiger@tigerbuford.com. The BoneFactory core team will have with an introductory video call where you can share your concept, why you need to outsource the project, and desired outcomes (patent, working prototype, testing, regulatory pathway definition, full FDA clearance, go-to-market commercialization plans, etc).
3/ Teaching Hospital/University with a Product Idea:
If you work for a Teaching Hospital or University and have an idea for a better treatment (product, service, diagnostic, etc.), contact Tiger at The Bone Factory – tiger@tigerbuford.com. The BoneFactory core team will have with an introductory video call where you can share your concept and desired outcomes (patent, working prototype, testing, regulatory pathway definition, full FDA clearance, go-to-market commercialization plans, etc).