What a turnout at yesterday's closing keynote: "Accelerating Cardiac Care Innovation," moderated by Ken Nelson, discussing how major device companies can collaborate with the startup ecosystem.
Here are the key takeaways from the panel discussion:
* Timing is Everything: Introduce yourself to strategics early on, but be mindful of having a clear strategy in place before initiating contact. Approach it as a long-term business development journey.
* Build Trust Through Progress: Avoid premature introductions. Show consistent progress to build trust and instill confidence in your business before making significant moves.
* Every Interaction Counts: Treat every interaction as an opportunity to learn more about the strategies and business operations of potential partners. Share your progress wisely to foster meaningful connections.
* Prepare for Partnership: Ensure your business is of sufficient size to handle the demands of collaboration. Cultivating a collaborative culture requires ample resources.
* Leverage Conferences for Networking: Utilize industry events such as LSI, HRX 2024, and MedTech Innovator to network with potential partners. Consistent presence and engagement are key.
* Revenue Model Matters: Focus on building a strong, proven revenue model. Larger acquisitions now prioritize ROI within a maximum of 10 years over indiscriminate growth.
To great new partnerships being formed at LSI!
Panel with Lisa Suennen, GCB.D Chris Eso Nate Harrington David Hochman
#LSIUSA24
Finance and Accounting Executive I Ex-Amazon, Ex- Sony
2wCan't wait to hear more exciting news!