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What we found is that during the class almost all of them pivoted - making substantive changes to one or more of their businessmodel canvas components. Both of these groups, those who took the Innovation Corps class and those who didn’t, applied for government peer-reviewed funding through the SBIR program.
If you’ve never written a business plan before, take a look at these sample medical startup business plans. At first, you need to focus on developing your businessmodel and validating it. That’s why having a revenue-minded focus from the early stages helps to secure funding.
The other interesting observation: Unlike other medical device companies, Apple’s current Watch businessmodel is not dependent on getting insurers to pay for the watch. However, if the Apple Watch becomes a device eligible for reimbursement , there’s a huge revenue upside for Apple. Much like the NIH SBIR program.)
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