Innovation must lead to the introduction of new effective treatments of patients while having an impact on health care.
This requires two elements, (i) the development of a new application by a team that has ample experience in medical, engineering and commercial aspects and (ii) the change of perception by existing structures in health care, because the decision to make use of innovations lies here.
The challenge is two-fold: developing the innovation (medical, engineering, commercial) and influencing the existing structures to make use of the innovation. In general, financing such a project to overcome the innovation chasm is not easy because of these two challenges at the same time. Evolve has the track record for establishment of a professional structure to manage market introduction.
Of course, it would be a fine idea that your invention will have impact on health care. We, the Evolve team, will do every effort that leads to the introduction of new effective treatments of patients while having an impact on health care.
In order to meet mutual expectations, we have to understand the cooperation model. Generally, total gross expenditures for a project leading to the introduction of new effective treatment amounts to several million Euros. Hence, all parties must realize what is needed to generate a successful project.
From the projects that have been offered to us in the last two years, we have accepted only one third. Of course, it’s not a pleasure for us to turn down a project, but, on the other hand, we think we have so much experience that we have the impression to differentiate between potential successful projects and projects that are looking fine but will never have an impact on health care. Maybe, we’re sometimes not making friends, however, it’s our duty to be sincere in our opinion on new projects. And, please, remember, when we are turning down a project, we are protecting you as well.
A patent position has been explored and is feasible; also the patent can be transferred to the mutually funded company later on. Generally, the co-owner of the patent is the employer and the employer must agree on this. Furthermore, it has to be agreed who is paying the patent expenditures.
The prototype is well defined and has been demonstrated successfully in at least one patient.
The introduction of the new treatment has commercial (e.g. shorter hospital stay; less re-interventions) and medical advantages (improved patient quality of life).
The invention team has to make time and dedication available for the project, and surgeons from other hospitals are willing to participate in clinical trials.
As the general concept of Evolve is to generate impact on the health care system, many project have to be rejected because we don’t see a route to successful implementation. We must always find a favorable ratio between risks and investments. At the end, this principle applies to all parties involved.
From the projects offered to us, we have accepted only one third
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