The Brain Innovation Days hosted its first-ever Pitch Competition in January 2021. Out of 90 applications, 2 European start-ups particularly impressed the jury and the public: PIPRA, which is developing a cutting-edge AI-based pre-operative test to prevent post-operative delirium (Jury Award for Best Pitch); and icompanion, the digital companion for people with neurological conditions and their physicians (Public Award for Best Pitch).
Both winners received prestigious awards including a workshop given by beLean.net, the CFO-as-a-Service in Life Science & Technology.
The workshop with PIPRA was about Fundraising strategy: how the communication on a clear development plan should include reachable milestones, detailed Use of Proceeds and a fundraising timing. beLean.net also shared some tips and tools for investors discussions.
The workshop with icompanion was about Go-to-market strategy: the opportunity of doing clinical studies to show better results than the Standard of Care in health improvement and cost reduction, and the 3 entry barriers in MedTech which are patient’s data, medical device classification and the reimbursement and practitioners acceptation.
In conclusion, the emergence of the new generation of medical devices, in the form of patient monitoring software and CDSS, brings an ambiguity to the market. On one side Commercial Orientation with Customer Focus, on the other side Medical Orientation with Clinical Study and Regulatory Focus.
Fundraising strategy should consider both sides.
beLean.net is a CFO-as-a-Service offering long-term support in strategy, finance and management for entrepreneurs and investors active in Life Science & Technology.
We are the Walloon reference accelerator in the field of health biotechnology and medical technologies active in Europe. Our mission as part-time CFO is to support our clients to free them up time so that they can focus on their core business.
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