Opportunity framing - Critical junctures and tough choices in the MedTech industry in Sweden
(2022) MIOM05 20221Production Management
- Abstract
- Background:
In today’s competitive market, renewal through innovation is of utmost importance to stay relevant. Creating a start-up is associated with great uncertainty and doing so within the heavily regulated MedTech industry, puts even higher demands on a start-up.
Purpose:
The purpose of this master thesis is to identify issues and challenges facing MedTech start-ups in the different phases of business-development, and formulate possible approaches to handle those obstacles.
Methodology:
In this master thesis, a combination of explanatory and exploratory meth-ods has been applied. An abductive research approach was chosen. The research data collection method is qualitative, and appropriate measures to mitigate the risk of... (More) - Background:
In today’s competitive market, renewal through innovation is of utmost importance to stay relevant. Creating a start-up is associated with great uncertainty and doing so within the heavily regulated MedTech industry, puts even higher demands on a start-up.
Purpose:
The purpose of this master thesis is to identify issues and challenges facing MedTech start-ups in the different phases of business-development, and formulate possible approaches to handle those obstacles.
Methodology:
In this master thesis, a combination of explanatory and exploratory meth-ods has been applied. An abductive research approach was chosen. The research data collection method is qualitative, and appropriate measures to mitigate the risk of bias have been taken. The research strategy was a mul-ti-case study including three start-ups and three supporting organisations.
Limitations:
This master thesis focuses on USOs and supporting organisations within the MedTech industry in Sweden, while international research and litera-ture has be reviewed. A deep analysis of each company’s innovations and competitors is outside of the scope of this master thesis, since it would require extensive medical knowledge beyond a civil engineering degree.
Conclusions:
Creating a start-up in the heavily regulated MedTech industry puts high demands on founders and team concerning commitment and competence fields. Founders and team should have a solid and relevant medical back-ground to be able to develop a competitive product and create credibility towards investors. If given the opportunity, they should at an early-stage approach one or several supporting organisations, whose advice and expe-rience are of high value. Securing a strong IP protection and having a long-term perspective and commitment are vital prerequisites for launching a successful MedTech company. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9090975
- author
- Åkeson, Axel LU
- supervisor
- organization
- course
- MIOM05 20221
- year
- 2022
- type
- H2 - Master's Degree (Two Years)
- subject
- keywords
- Critical junctures, Financing, Innovation, MedTech, Start-up, Technology strategies, University spinout.
- report number
- 22/5690
- language
- English
- id
- 9090975
- date added to LUP
- 2022-06-28 14:09:49
- date last changed
- 2022-06-28 14:09:49
@misc{9090975,
abstract = {{Background:
In today’s competitive market, renewal through innovation is of utmost importance to stay relevant. Creating a start-up is associated with great uncertainty and doing so within the heavily regulated MedTech industry, puts even higher demands on a start-up.
Purpose:
The purpose of this master thesis is to identify issues and challenges facing MedTech start-ups in the different phases of business-development, and formulate possible approaches to handle those obstacles.
Methodology:
In this master thesis, a combination of explanatory and exploratory meth-ods has been applied. An abductive research approach was chosen. The research data collection method is qualitative, and appropriate measures to mitigate the risk of bias have been taken. The research strategy was a mul-ti-case study including three start-ups and three supporting organisations.
Limitations:
This master thesis focuses on USOs and supporting organisations within the MedTech industry in Sweden, while international research and litera-ture has be reviewed. A deep analysis of each company’s innovations and competitors is outside of the scope of this master thesis, since it would require extensive medical knowledge beyond a civil engineering degree.
Conclusions:
Creating a start-up in the heavily regulated MedTech industry puts high demands on founders and team concerning commitment and competence fields. Founders and team should have a solid and relevant medical back-ground to be able to develop a competitive product and create credibility towards investors. If given the opportunity, they should at an early-stage approach one or several supporting organisations, whose advice and expe-rience are of high value. Securing a strong IP protection and having a long-term perspective and commitment are vital prerequisites for launching a successful MedTech company.}},
author = {{Åkeson, Axel}},
language = {{eng}},
note = {{Student Paper}},
title = {{Opportunity framing - Critical junctures and tough choices in the MedTech industry in Sweden}},
year = {{2022}},
}