The growing market of wearable technologies is attracting a lot of interest in the consumer electronics and digital health arenas. Between tech-savvy consumers who want to more accurately monitor their health and rising healthcare costs, the shift to digital health and wearables is a natural outcome. Expertise and creativity could be the difference between a successful product and one collecting dust on a shelf. Here are some important considerations:
Stratos was a proud sponsor of this year's Life Science Innovation Northwest, a conference that brought together over 800 attendees from public and private companies to learn about opportunities for partnerships in the life science sector.
This year’s Life Science innovation Northwest conference included a chance for ten entrepreneurs in the digital health space to give their best “elevator pitch” to a panel of distinguished venture capitalists and leaders in the industry. The participants were vying for a check for $5,000, but they also got the chance to hone their pitches in front of an audience of more than 200 people from the life sciences community and receive constructive feedback from the panel.
For medical device developers outsourcing can be an effective solution to increase innovation, reduce risk and get to market quicker. Choosing the right development partner can be tricky when many make the same claims and seem to be equally qualified.
This week marks the end of an era at Stratos as Director of Electrical Engineering Brian Read retires. Described by many as an incredible problem solver and a creative and valuable collaborator, it’s clear he has left his mark on Stratos’ body of work. Luckily, many here have had the chance to work beside him, solve problems with his help and learn from him.
When I spoke to him about his almost 20 years as part of the Stratos team, he was characteristically modest and emphasized that brainstorming with a team of great minds is what he will really miss.
Life Science Washington recently hosted an event titled, “Investing in Washington Research: Partnerships for Innovation.” The purpose of the discussion was to provide insight into the opportunities for existing companies and industry members to partner with Washington’s research entities for increased R&D success. The panel included Charlotte Hubbert of Gates Foundation Venture Capital, Leen Kawas of M3 Biotechnology, Patrick Shelby of Fred Hutchinson Cancer Research Center, Elizabeth Aylward of Seattle Children's Research Institute, Andrea Lazarus of Washington State University, and Todd Cleland of the University of Washington.
Product innovation within a well-established product design company can be challenging. Corporate politics, burdensome development processes, and competing priorities can suppress engineering creativity and limit the acceptance of new ideas. Corporations that are more successful at innovation tend to be smaller companies where bureaucracy and competing priorities don’t create road-blocks to creativity and invention. One option for corporations that are struggling to gain a leading edge in product design and engineering is to outsource innovation to a product development consulting firm.