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66. Challenges of Building a Medical Device Startup for Underserved Populations w/ Sona Shah
Manage episode 448594973 series 2902499
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How does vital signs monitoring address neonatal mortality in low-income countries? What challenges do medical device startups face, especially in regulated healthcare environments?
In this interview, Sona Shah, CEO of Neopenda, walks us through her personal journey from studying chemical engineering at Georgia Tech to creating impactful healthcare solutions while navigating the complexities of medical device development. She shares her experiences teaching in Kenya, working in pharma, and meeting her co-founder Tess at Columbia University. The conversation delves deep into the challenges of launching a healthcare startup, the importance of culturally sensitive design, and critical business decisions such as choosing a for-profit model and restructuring the team during COVID-19. Sona provides valuable advice for aspiring entrepreneurs driven to solve urgent healthcare problems.
Takeaways:
- Sona Shah's journey from engineering to healthcare highlights the importance of cultural sensitivity in medical device design.
- Neopenda was founded to address neonatal mortality in low-income countries with innovative monitoring solutions.
- The challenges of launching a healthcare startup include navigating regulatory hurdles and securing funding.
- COVID-19 opened opportunities for Neopenda to adapt its device for adult and pediatric patients.
- Creating a sustainable business model is crucial for balancing profitability with social impact in healthcare.
- Restructuring during tough times can lead to stronger teams and better company performance in the long run.
Links referenced in this episode:
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