TMCi Biodesign Founder-in-Residence – Business Lead

The TMC, the largest medical complex in the world, is at the forefront of advancing health, education, and research. Surrounded by some of the brightest minds and resources in the world, together, the TMC can culminate innovations to change health care.

The TMC Innovation (TMCi) Biodesign Program allows individuals to embark on an entrepreneurial journey with the task of pioneering a medical device startup. This full-time, paid program is tailored for entrepreneurs determined to tackle the most pressing unmet needs in healthcare. Mentored by the TMC Innovation team and a network of experts, Biodesign Founders undergo a proven innovation process that nurtures their ideas into tangible medical device solutions.

Program Highlights:

Sustainable Startup Formation:

• The TMCi Biodesign Program distinguishes itself by guiding individuals through the entire process of establishing a new, sustainable startup company. Participants are immersed in an environment that fosters creativity, collaboration, and business acumen, ensuring the success of their ventures.

Battle-Tested Founders:

• Beyond creating startups, the program also focuses on developing founders with the resilience and expertise to thrive in healthcare entrepreneurship. Through hands-on experiences, participants emerge as battle-tested leaders, well-prepared to take on future ventures confidently.

Full-Time Paid Opportunity:

• Recognizing the commitment and dedication required for innovation, the TMCi Biodesign Program provides participants with a full-time salary and health benefits, allowing them to focus entirely on driving healthcare transformation.

Mentorship and Expert Guidance:

• Participants receive guidance from the TMC Innovation team and a network of experts who bring their wealth of experience and knowledge to support and nurture the budding entrepreneurs throughout the program.

Advanced Device Prototyping Facility:

• The Center for Device Innovation (CDI) @ TMC a 26,000 sqft maker space that brings engineers, physicians, and designers together to work side-by-side on breakthrough medical devices. Founders have access to a state-of-the-art machine shop, wet lab, electronics & material characterization lab, and an array of 3D printing capabilities.

Immersive Clinical Experience:

• Founders are immersed in the clinical environment, gaining essential insights and understanding the real challenges faced by healthcare professionals firsthand in the largest medical complex in the world. This unique exposure enables them to develop innovative solutions grounded in real-world needs.

Diverse Entrepreneurial Thinkers:

• The Biodesign Program seeks passionate individuals from diverse backgrounds, including engineering, software development, medicine, business, design, and research. Bringing together multidisciplinary teams, typically comprising clinical, business, and technical leads, fosters dynamic problem-solving and innovative thinking.

Collaborative Problem Solvers:

• The program assembles teams of collaborative problem solvers who thrive under high-stress situations. Participants approach the Biodesign process with adaptability and a problem-centric curiosity, enabling them to develop innovative solutions that truly address healthcare challenges.

The TMCi Biodesign Program is a transformative journey for entrepreneurial thinkers driven to create a meaningful impact in the healthcare landscape. By combining mentorship, immersive experiences, and multidisciplinary collaboration, the program equips founders with the fundamental skills to translate ideas into tangible medical device products and, ultimately, new startup companies.

Job Overview:

The Biodesign Program for a Business Lead is a comprehensive, one-year program that empowers business-minded professionals to drive impactful innovations in the medical device industry. As a Business Lead, you will play a central role in providing strategic insights, market analysis, and business acumen to guide the development of cutting-edge medical technologies. Through immersive experiences and expert mentorship, you will gain the skills to bridge the gap between technical innovation and commercial success.

Responsibilities:

• Market Analysis: Conduct thorough market research and analysis to identify healthcare trends, unmet needs, and potential opportunities for innovative medical device solutions.

• Business Strategy: Work with co-founders to develop comprehensive business strategies that align with market demands and drive successful product development and commercialization.
• Product Positioning: Define value propositions and strategies for successful market entry and product differentiation.
• Financial Modeling: Build and analyze financial models to evaluate the feasibility and potential return on investment for new medical device ventures.
• Business Development: Establish and nurture partnerships with external stakeholders, including investors, industry experts, and potential collaborators, to facilitate business growth and expansion.
• Regulatory Compliance: Work closely with the co-founders to ensure medical device regulations and standards compliance.
• Intellectual Property (IP) Strategy: Contribute to developing IP strategies to protect novel technologies and innovations.
• Collaboration and Teamwork: Collaborate effectively with engineers, medical professionals, and designers to translate innovative ideas into viable products.
• Presentation and Reporting: Communicate business strategies, market insights, and progress updates to peers, subject matter experts, advisors, and potential investors.

Requirements:

• Business Background: A bachelor's or master's degree in Business Administration, Marketing, Entrepreneurship, or a related field.
• Preferred 1-2 years of relevant work experience.
• Entrepreneurial Spirit: Demonstrated passion for entrepreneurship and a keen interest in driving innovation in the healthcare industry.
• Analytical Skills: Strong analytical and problem-solving abilities to assess market trends and make data-driven business decisions.
• Communication Skills: Excellent verbal and written communication skills to convey complex business concepts to technical and non-technical audiences.
• Team Player: Ability to work collaboratively in a multidisciplinary team environment and foster a culture of innovation and creativity.
• Adaptability: Comfortable in fast-paced, dynamic environments, able to adapt to changing priorities and embrace new challenges.
• Previous Experience: Prior experience in business development, market analysis, or product management in the medical device industry is advantageous.

The Biodesign Fellowship for Business Lead offers an exceptional platform for ambitious professionals to merge their business acumen with medical innovation, making a tangible impact on healthcare. Join TMC Innovation on this transformative journey and be part of shaping the future of medical technology, creating groundbreaking solutions that improve lives worldwide.