2. Medical device startups are an endangered speciesEntrepreneurs and investors face a great deal of change in a post-COVID world. Ironically, the healthcare sector needs new tools and technology now more than ever, but the economic impact of the pandemic will affect customers, close clinical trial sites and disrupt already unsteady paths. This may make investors less likely to commit to new ventures.
Terry Murray has been involved with start-ups for over two decades, either as part of the company or working with them as he does today as VP of strategic development at Rev1 Engineering (Murrieta, Calif.). He watched startups wither after the attacks of Sept. 11, 2001, and the Great Recession of 2008.
“I’m curious to see if this might be the final nail on the coffin of the traditional startup,” Murray said. “I don’t think the model really serves us anymore.”
Murray said incubators and accelerators help, but he sees the virtual model adding more value.