Early-stage medtech companies are under tremendous pressure to develop quickly, prove value, and obtain regulatory approval or clearance as fast as possible. The pace of innovation in the industry has increased tremendously, thanks to more options for outsourcing and new technology like 3D scanning and AI analysis.
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On top of that, venture capital is concentrating in fewer, more mature companies, meaning early-stage companies are often facing pressure to do more with less. That creates its own set of challenges. Even with the best software tools and new technology at their disposal, medtech companies have to figure out how to extend their runway and hit milestones with fewer resources.
One of the best ways to maximize runway is to keep head count from growing unnecessarily during the early days. But that’s often easier said than done. As design and development progresses, the complexity of most teams’ quality systems will steadily grow until they need to hire full-time QA professionals to handle it.
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