Why do some device and diagnostics companies nail down venture funding and advance their product development when others fail?
While some may want to credit alchemy, there are more tangible things involved. Shrewd management, timing, novel technology poised to boost the standard of care, and maybe even a little bit of luck can make the difference between success and failure in the startup world.
Those qualities are important in this day and age, because for device and diagnostics startups, the global investment climate remains challenging. Innovative ideas continue to draw funding, however, and companies in both spaces have reached major development and funding milestones in recent months.
Below, we highlight 6 startups that have made waves this year by attracting funding in the first place. They're also working overtime to propel their development forward. These young companies were able to nail down crucial funding even as the number of overall venture investors continues to decline. And they are all innovators in their area of focus, covering everything from heart failure treatment devices to dissolvable intraocular implants to treat glaucoma. Three are diagnostic startups. One is focused on spotting children with autism at a younger age, allowing for earlier and hopefully more successful intervention and treatment. Another blends technology in new ways to speed up the diagnostic process, and the third is looking to advance diagnostics and personalized medicine in the developing world. They are worth following because they have succeeded where many others are struggling.
They also span the globe, a cross-section of startups from the U.S., Europe and Asia. And their achievements remind us that the search for investment dollars among startups is a fiercely global game.
-- Mark Hollmer (email | Twitter)