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Sk90 replied to the topic Funding in Medical Devices Industry in the forum Introduction to Project Management 6 years, 2 months ago
The company should invest in the project if it is making steps in right direction. Not every idea has the potential to turn into a viable business. Great idea needs to solve specific kind of a problem in order to be viable. There should be a clear image about the target market. Company will look to invest in great ideas hoping to make big amount. The company need an objective idea of when their contribution can start bringing the return. Great idea should details the target customer, crucial stakeholders, the essence of the idea, the commercialization path, proposed operations, the team, financial requirements. Companies should look at innovation because best innovators are the ones who focused on lean learning and rapid risk reduction