We’re really excited about what this means for the entire med device eco-structure.
Atlanta, GA (PRWEB) February 19, 2014
MakerStaker.com—a virtual accelerator and crowdfunder positioned in health, wellness and med device—quickly landed its first projects following launch.
EndoPro, a sterilizable endoscope coupler for GoPro; Metronome, a patient-centered open platform for health data exchange; EndoRest, a device to help prevent repetitive motion injuries suffered by surgeons; and Care2Manage, a novel home healthcare network, all posted projects on the new site.
MakerStaker launched January 14 this year, as announced in MD&DI. See http://bit.ly/MakerStakerLaunch.
The site caters to inventors who seek funding and expert advice to get their idea to the next stage, even if the next stage is a functional prototype. Makers can post projects that range in magnitude from funding prototypes to funding an entire business start-up.
MakerStaker offers access to funding, providing promising medtech devices a fighting chance at commercialization. It relies on crowdfunding as the project financing engine, and grants access to pro bono mentorship from a variety of business disciplines: Engineering, Marketing, Legal and IP, Regulatory and Quality, among others. See http://bit.ly/MakerStakerTrailer.
All MakerStaker mentors go through a vetting process following registration, so only top-notch talent is permitted to join.
“The model is to surround good ideas with funding and subject matter experts,” said David Guy, founding partner. “Both my partner and I have witnessed the difficulties good ideas face in getting to market…in just getting the attention of med device manufacturers. Sometimes all an idea needs is some seed money and help in executing.”
Both MakerStaker founders have first-hand experience as executives in large med device firms and venture-backed start-ups, where they developed and commercialized successful medical devices.
MakerStaker also offers value to its mentors and stakers. The connections mentors make with “makers” on a pro bono basis could transition into paying relationships if the inventions go on to commercial success. Stakers benefit from investing in projects that are supported by a vetted team of mentors.
Successful projects, regardless of size, demonstrate popularity, and that’s important when seeking additional funding from angels and VCs. “The venture capitalists want low risk,” Guy added. “[They frequently say] ‘show me a product that works…a product that people want to buy.’ People vote with their wallets.” Funded projects connote lower risk.
“We’re really excited about what this means for the entire med device eco-structure,” said Guy.
MakerStaker banks on the collaborative environment and caliber of mentorship to mean worthy med device ideas make their way to boardrooms, and the market.
The site is currently rewards-based but expects to enter equity investing in States that allow it.