Attract investment for your MedTech product

Michael Barnes M6xg1g3ku2a Unsplash

Michael Barnes, Unsplash

Design research can help you win funding and sales. It gives you clear evidence to support the claims about your product.

You may have a detailed understanding of the benefits of your HealthTech or MedTech product but how do you prove them to potential investors or customers? How do you convince them that their money will be well spent?

What funders, investors and customers want to know

From our experience of working in the healthcare and medical sector we have found that these are the key questions that are asked about new products and services:

  • How will it make the current situation better?
  • Will it introduce any safety issues?
  • Will is cause more problems that it is solving?
  • What will the wider impact of it be?

Gather the evidence you need

You'll need to thoroughly examine your concept from a user and system point of view. You can gather data about your product by using a combination of research methods such as desk research, interviews, focus groups, user testing and surveys. The next step is to analyse the data to draw out key evidence that supports your claims about the product. 

Present your results in a format they can use

Customers like the NHS are engaging with design research more and more as they are required to build a business case for buying in new products and services. Ultimately, a business case is a case for change - it describes  why a change is needed and details the benefits of that change in a convincing way. You can use our free business case template and guidebook to work systematically through all of the key questions that need to be answered in order to build a strong business case.

If you can show potential funders, investors or customers a package of independent design research that backs up your claims you could fast track your success.

Book a free call with us and we'll help you figure out what evidence you need to support your funding bid, investor pitch or business case.