At HSD, our startup mission is simple: improve the quality of life by helping medical device startups, companies, and manufacturers get to market faster, with less risk.
For more than 40 years, we have been educating and guiding entrepreneurs through growth and development processes, sharing expertise, capabilities, and networks that have supported the creation of more than 400 successful products ranging from surgical tools and diagnostic instruments, to pharmaceutical packaging and consumer healthcare products.
Through services including product strategy to market realization, HSD has aided clients in executing their business plans, identifying opportunities, deciphering challenges, and building the technology required to launch their new products. Resources for program acceleration to meet funding milestones, guidance on the shifting regulatory landscape, and a comprehensive understanding of medical and healthcare device commercialization also aided in the many success stories.
With a start in medical and pharmaceutical packaging and designers that have been in the OR, surgical suites, and central labs, the team at HSD has a complete understanding of the medical development lifecycle and recognizes the sensitive nature surrounding medical development and the unique and rigid medical industry.
Having worked in the industry, we also have a high understanding of the proprietary and human issues surrounding medical product development, including documentation control, FDA requirements, delivery systems, patient compliance, and the increased risk testing needed for efficacy.
Utilizing our core competencies and 40+ years of experience, HSD has the ability to aid you in bringing your new technology or idea to life!
But, just like no two startups are the same, no two product design firms are the same. What works for one startup may not be right for another. Design firms can differ in their services offered, level of involvement, experience, knowledge, personality, networks, or capabilities. Understanding your strengths and weaknesses, your needs and desires, as well as those of the design firms, is crucial to finding the right match.
In our latest episode of the HsDNA podcast, host Justin Starbird sits down with Tor Alden, Global VP/GM Design, Development, and Human Factors for HS Design, a Steripack company, to discuss tips on how to choose the right partner for your startup with “5 Traps Startups Need to Watch Out for When Engaging with a Product Design Firm“.
In this 5-part blog series to follow, Tor dives deep into the top 5 traps he believes startups need to understand and consider when looking for a product design firm to partner with. He also discusses numerous ways in which to better understand the entire product development process as well as your own abilities and needs in order to find the firm that best aligns with your goals.
Key discussion points in this series and takeaways for success include:
- Planning & understanding the medical product development processes
- Building & scaling the right team
- Not underestimating capital expenditures
- Reducing emotional connection
- Staying true to your value proposition – even if you pivot
With discussion points including topics such as:
RFQ/RFP, Phase methodology, Compliance, The regulatory pathway, The IP landscape, Startup make-up & the journey of a startup, Raising Funds: Estimates & Pivots, Timeline, and costs: development & post-development, The prototyping process, When to pack it up and when to pivot, Startup mentality, Saying YES too often, The Swiss Army Knife design, Tim Harford’s “trial and error”, Disruptive MedTech and context of use, Lean Startup Methodology, Value Proposition, & Value +1
Most startups do not succeed.
Whether that means liquidating all assets or missing projected deadlines, it’s a disheartening fact. Learn how choosing the right product design firm improves your chances for success with “5 Traps Startups Need to Watch Out for When Engaging with a Product Design Firm”.
Below are links to each of the Trap blogs
Trap 1: Planning and understanding
Trap 2: Building & Scaling the Right Team
Trap 3: Underestimating Monetory Resources
Trap 5: Not Staying True to Your Value Proposition