PM Lessons Learned From a MedTech Startup Company Launch
Edmund is Co-Founder of Aevice Health in Singapore.
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Topics: Government, Healthcare, Procurement Management, Quality, Risk Management
Startups are expected to achieve more with less. There are tons of product development activities dealing with the ever-changing definition of minimum viable product to meet the go-to-market strategy. The project manager of a startup has to cover an ambitious scope with limited resources and meet the schedule before the runway ends.
When it comes to the MedTech sector, things can be particularly challenging. Due to the nature of the regulatory landscape and the complexity of the healthcare system, MedTech startups experience a higher level of uncertainty and risk.
As the co-founder of a company in this space, I always ask myself, “What I could have done differently?” This article shares my learnings from first-hand experience as a project manager in a MedTech startup based in Singapore. First, let’s cover some challenges:
Challenge 1: The Healthcare System & Model
Every country has its own unique healthcare system. Generally, the capability of a country's healthcare system has a direct correlation with its economic development status. For instance, a developing country tends to have lesser healthcare amenities, little digital infrastructure and difficulty in acquiring skilled healthcare workers1.
Although a developed country has greater healthcare accessibility for the people, these countries usually pose a challenge when it comes to …
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