Raising Money for your Orthopedic startup? Use this tool.
Thanks to Joe Hage at MedDevicesGroup.net for sharing Mark Kraus’ investment template.
Mark Kraus was the life sciences chairman for a Seattle-based keiretsu.For investor presentations. He saw a ton of medical device funding pitches. The questionnaire/template is just the backbone of a pitch. Mark expects graphs, pictures, timelines, prototype examples, and simple tables to complement the application.”The presentation needs to tell a story that captures the essence of the company and why this is a great investment opportunity,” he said, adding, “If company executives can’t provide the above, they probably aren’t ready.”
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For investor presentations, Mark expects graphs, pictures, timelines, prototype examples, and simple tables to complement the application.
“The presentation needs to tell a story that captures the essence of the company and why this is a great investment opportunity,” he said, adding, “If company executives can’t provide the above, they probably aren’t ready.”
How to Give a Medical Device Pitch
Watch the video below for some sound advice we received a few 10x Medical Device Conferences ago. Full transcript here.
Seasoned VC Jeffrey Kraws summed it up nicely:
“Assume I already know this:
- I already know you’re going after a large medical market with unmet medical needs.
- I already know you think you have the best medical doctor out there on Planet Earth and he’s the world’s expert in this area.
- I also know your management team has gazillions of years of experience and are the best at everything they do and have a proven track record and have done this.
- I also know you have strong IP.
- I also know you’re going to do this at a cheaper cost than anybody else.
- Faster, better, and oh my God, do you know that company A and company B got sold for this much? Their stuff is crap. Our stuff is the real deal. We got all that.”
“I hear that everyday all day long,” Jeff punctuated.
His overarching points: Anticipate his questions. Answer succinctly. Say “I don’t know, I’ll get back to you,” when you don’t know. Then get back to him.