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.
It would of course be great if your invention could have an 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 never a pleasure for us to turn down a project. However, on the other hand we believe that our abundance in experience offers us the ability to differentiate between potentially successful projects and projects that appear to be good, but wil never have an impact on healthcare. Perhaps we don’t always make friends, it is however our duty to be sincere in our opinion on new projects. And, please, understand, when we turn down a project, we also have your best interest at heart.
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 upon who will be paying for 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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