CLEARsmile’s Dr. Igor Reizenson was recently featured in a Pannam Imaging blog post about the challenges that MedTech companies face when growing. Dr. Reizenson was one of 13 experts featured in the blog post and specifically discusses the challenges surrounding fundraising:
“The big financial hump is moving from the alpha prototype stage to the beta prototype, where most people get stuck in the process. At this point, the inventor needs to be meeting with venture capital and angel investors. The cost of developing a beta prototype is high, ranging from one hundred thousand dollars up to one million. The beta prototype is a nearly complete product that needs FDA approval along with user testing and feedback from a small group of potential customers.”
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