He says that startups seeking to commercialize new technologies should:
- Define ”clinical utility” before spending millions of dollars.
- Understand who core and tertiary customers are, and the sales and marketing process ”required for initial clinical sales and downstream commercialization.”
- Assess intellectual property and regulatory risk ”before designing and building”.
- ”Know what data will be required by future partnerships/collaboration/purchases before doing the science.”
- “Identify financing vehicles” before they’re needed.