Biomedical and Healthcare Ventures
- [The View from The Shard, London, United Kingdom - Benjamin Davies]
The Secret Of Change Is To Focus All Of Your Energy,
Not On Fighting The Old, But On Building The New.
-- Socrates
- The Biomedical Industry
The biomedical industry is a combination of biology and medicine that aims to improve human health. Biomedical scientists study how the body works, how diseases develop and spread, and how to treat or prevent illness.
The healthcare industry, also known as the medical industry, is a large industry that provides goods and services to treat patients. The healthcare industry includes:
- Companies that offer clinical services
- Companies that manufacture drugs and medical equipment
- Companies that provide healthcare-related support services like medical insurance
- Other companies that are involved in products and services related to health and medical care
The healthcare industry is categorized into six main industries: Pharmaceuticals, Biotechnology, Equipment, Distribution, Facilities, Managed health care.
The life sciences industry is another industry that creates products to improve the lives of organisms. Companies in this industry include those that work in pharmaceuticals, biotechnology, medical devices, biomedical technologies, nutraceuticals, cosmeceuticals, and food processing.
- Purpose
The healthcare industry includes businesses that provide medical services, produce medical devices or medications, offer medical insurance, or aid in the overall delivery of healthcare to individuals.
According to a study, the healthcare sector has an average return on investment of 13.4% from 2010 to 2022. The U.S. healthcare industry is worth $808 billion in 2021 and the global healthcare industry is worth $12 trillion.
Research breakthroughs made in the lab hold great potential to improve the lives of millions of people worldwide; but the challenge remains in how to bring scientific innovation to the marketplace in the form of relevant products, services, therapies, diagnostics and cures.
The EITA organizes biomedical technology entrepreneurship workshops (on-site and/or virtual) worldwide periodically. The purpose of the workshop is to bridge the gap between academic research outcomes and the commercial potential of those discoveries.
The workshop will help participants - including university researchers, entrepreneurs, executives, attorneys, venture capitalists, angel investors, industry and regulatory experts, and other key advisers - gain insight into the processes necessary for taking medical technology from design to implementation and commercialization.
This introduction to biomedical technology entrepreneurship will position university researchers and community participants to make contributions to existing medical technology companies or to biomedical technology start-up firms.
At the workshop participants will explore biomedical technology entrepreneurship and its relationship to the biomedical industry, discover how to turn an innovative product idea into a new biomedical technology venture, hear presentations from innovators and entrepreneurs in the biomedical technology field and meet people who can help turn ideas into a reality.
To foster fruitful exchange, the format of the workshop will provide ample opportunities for general and informal discussions.
Teams and individuals interested in biomedical entrepreneurship are encouraged to join the Venture Workshop, where experienced professionals can answer questions and give them feedback on their ideas.
[More to come ...]
