Recently CQG CEO and founder Nicolle Cannon joined with Stephen Meserve, Senior Director of Product Marketing Qualio to discuss securing investment in life sciences as part of the Australian Medical Device Series. During the webinar, the duo focussed on start-up funding basics and highlighted practical tips for securing investors.

Don’t just focus on domestic

Stephen pointed out that the Australian MedTech market is ripe for funding, noting that in the last five years more than $1.4 billion dollars have been invested there. This volume rose by 117% over 2021-22, indicating that deal volumes are growing year-on-year.

The top tips for securing funding from the webinar included:

1. Put scalable business quality first

While falling valuation doesn’t sound like a reason for hope, it actually points to more money to be invested in potential deals. This is good news for medtech startups as the modern medical device takes between $30 to $90 million dollars to get to market. Ensure your company’s visibility by implementing value-added, quality-focused systems that help to de-risk your venture.

2. Prioritize digitization

Implementing quality digital solutions seems like an expensive enterprise, but there are surprisingly cost-effective solutions, like Qualio, which can grow with your business. Implementing a digital quality management system on the ground floor will lean your system, reduce regulatory process time, and double product release velocity.

3. Master your pitch

When it comes to pitching your product, look to outside experts to really help you effectively get your ideas across. Experienced marketers can help build a story around your product, simply explain benefits and address doubts. Based on this guidance, develop an elevator pitch that lives on after you’ve left the room.

4. Look for other sources of funding

Look to other possible sources of funding, such as government and corporate grants that offer liquidity without dilution. Investors prefer to jump onto a moving ship. Securing other forms of funding proves the potential and promise of your business and makes you more likely to unlock fresh rounds of investment.

Obtaining investment is crucial for growth of any medical device company. Investors focus on quality & risk reduction, making it difficult to get noticed. If you’d like to discuss ways to implement cost effective, risk-based quality into your medical device start-up, contact us at quality@cannonqg.com.