“Small companies take risks to save time and money, while large companies take time and spend money to reduce risks. I know which route I prefer,” enthuses Peter Crosby, a panellist on MEDTEC Ireland’s Inventor, Entrepreneur & Start-up Forum.
Crosby has a background of bringing dozens of products to the world market, and is currently CEO of Dublin-based Mainstay Medical, which has a new implantable device therapy for chronic low back pain. Crosby advises that the conglomerates’ cautionary approach will “thankfully encourage the innovative spirit among the plethora of small, highly innovative and agile firms that are increasingly appearing in Ireland.”
“Ireland’s medical device sector is a thriving breeding ground for enthusiastic startups, and they need to know that taking risks is not necessarily a bad thing—albeit with an appropriate awareness of accepted risk-reward ratios,” Crosby says.
“And while this may be particularly harder in Europe than in the United States, I’m sure the MEDTEC Ireland debate will not only dispel a few myths but also offer practical advice to encourage the entrepreneurial spirit!”
Peter Crosby will be one of the panellists on the day-long series of debates at MEDTEC Ireland’s Inventor, Entrepreneur & Start-up Forum on 9 October 2013. The first debate, ”So I have a great idea for a product, now what?”, will focus on early company formation.
Other debates include: “How do I raise the money to get started and then keep going?,” “Now I have a company, what do I need to do to be successful?’” and “How do I get my product to market?” Also part of the forum, Dr Mark Bruzzi of Galway University’s Bioinnovate Programme will present the session “Identifying unmet needs.”