AIM BLOG SERIES: PART ONE
AN INTRODUCTION TO INNACCEL’S
AFFORDABLE INNOVATION IN MEDTECH
(AIM) FELLOWSHIP
MARCH 24, 2014
Introducing the
AIM Fellowship
InnAccel has introduced a 6-
month hands-on program to
train a multi-disciplinary
team of e...
Needs finding
• Observations
• Need
Statements
Filtering &
Specifications
• Disease State
• Market
Analysis
• Competition
...
Fellowship
Structure
InnAccel’s AIM Fellowship
is a structured six month
program based on the
Biodesign process
developed ...
Introducing the
AIM Fellows
InnAccel’s first AIM
Fellowship began in
February 2014 and is
currently training 4 Fellows
in ...
Medical Fellows
part of the AIM
In addition to the 4 Fellows
being trained in the
BioDesign process, the
AIM program also ...
InnAccel and the
Affordable
MedTech
Opportunity
InnAccel is India's first
Affordable MedTech
Acceleration ecosystem,
aimin...
InnAccel’s Vision,
Mission & Goals
InnAccel is India's first
Affordable MedTech
Acceleration ecosystem,
aiming for global ...
InnAccel’s
Programs
Whether you’re a recent
graduate, an experienced
MedTech professional or
just someone interested in
Me...
Thank You
To keep up to date on the
latest news about InnAccel
and opportunities in
Affordable MedTech
Innovation &
Entrep...
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InnAccel AIM Blog Part One: An Introduction to the AIM Fellowship

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InnAccel is India's first Affordable MedTech Acceleration ecosystem, aiming for global leadership in 10 years.

InnAccel has introduced a 6-month hands-on program to train a multi-disciplinary team of 3-4 members in MedTech innovation. Participants are selected based on rigorous evaluation, and the chosen team will typically include engineers, product designers, and clinicians. The team will undergo a structured 6-month program, including a 6-8 week clinical immersion at partner hospitals, and 2 months of concept generation and prototyping. Participants will be paid a competitive stipend for the duration of the program & have the opportunity to form a startup at the end of the program.

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InnAccel AIM Blog Part One: An Introduction to the AIM Fellowship

  1. 1. AIM BLOG SERIES: PART ONE AN INTRODUCTION TO INNACCEL’S AFFORDABLE INNOVATION IN MEDTECH (AIM) FELLOWSHIP MARCH 24, 2014
  2. 2. Introducing the AIM Fellowship InnAccel has introduced a 6- month hands-on program to train a multi-disciplinary team of engineers, product designers, and clinicians in MedTech innovation. The team undergoes a structured 6-month program, including a 6-8 week clinical immersion at partner hospitals, and 2 months of concept generation and prototyping. Fellows are paid a competitive stipend and have the opportunity to form a startup at the end of the program The AIM entrepreneurship program looks at achieving the following three objectives that are vital for India's growing medtech ecosystem: • To create high quality start up companies that work on solutions for validated problems in the Indian healthcare system by following a structured innovation process Teach a Structured Innovation Process • To produce entrepreneurs equipped with skills and knowledge required to identify compelling unmet needs specific to the Indian context and bring affordable healthcare solutions for the Indian market Develop Entrepreneurial Talent • To build awareness and create platforms for cross-disciplinary interaction among key players who have a vital role in the Indian medtech innovation system such as clinicians, engineers, designers, business graduates, hospitals, institutes and funding organisations (private & public) Create a cross-disciplinary platform for MedTech Innovation
  3. 3. Needs finding • Observations • Need Statements Filtering & Specifications • Disease State • Market Analysis • Competition • Needs Specification Concepts • Brainstorming Concept selection • Intellectual Property • Regulatory Risks • Business Model • Prototyping IP Planning • Regulatory Strategy • Stakeholder Strategy • Marketing Strategy • Competitive Advantage Development Plan • Manufacturing • Clinical Trials • Operations • Finance • Business Plan Biodesign Process The biodesign innovation process has been developed to help both novice and experienced innovators increase their likelihood of success. This process is taught in Stanford University’s Program in Biodesign and serves as the foundation of the book Biodesign: The Process of Innovating Medical Technologies Click here for a detailed overview of Biodesign Identity • Needs Finding • Filtering & Specifications Invent • Concepts • Concept Selection Implement • Development Strategy • Development Plan The BioDesign process consists of 6 sections within 3 broad areas: Each of the six sections comprise of the elements enlisted below:
  4. 4. Fellowship Structure InnAccel’s AIM Fellowship is a structured six month program based on the Biodesign process developed at Stanford University to critically validate unmet clinical needs and build a prototype At the end of the Fellowship, the Fellows would form a company that would apply for acceleration at InnAccel’s Accelerated Product Development Platform (APDP) 4 weeks • Training • on the Biodesign process, the focus area, and soft skills 6 weeks • Clinical Immersion • to observe needs at a partner hospital with in-hospital clinicians as Fellows 4 weeks • Needs Filtering & Need Specification Document • to reach the top 3 needs that meet predefined filters 2 weeks • Brainstorming & Concept Selection • to develop innovation solutions to the solve the needs 4 weeks • Prototyping & Validation • to prototype a solution for the top need and file Intellectual Property (IP) 2 weeks • Prototype refinement & Pitch • build a functional prototype & pitch for formal acceleration at InnAccel The AIM Fellowship consists of six distinct steps split over 22 weeks… …this AIM Blog Series will follow the progress of the AIM Fellowship
  5. 5. Introducing the AIM Fellows InnAccel’s first AIM Fellowship began in February 2014 and is currently training 4 Fellows in the Biodesign process The Fellows are being trained in the Biodesign process by Dr. Jagdish Chaturvedi, Director of Clinical Innovation & Partnerships, InnAccel and a SIB Fellow (2012) Nitesh Jangir, Engineer & ex-SIB Intern I am passionate about Medical devices specially catered to India and affordable health-tech. I'm looking forward to applying the BioDesign process to develop innovative products & take them to market by forming a startup Nachiket Deval, Engineer & Product Designer The AIM fellowship gives me a platform to research and develop devices which are India specific identifying the gaps in the medtech space and coming up with incremental or disruptive innovations to bridge the gap Varun Jain, Business Development The AIM Fellowship provides a systematic yet practical and thorough, hands-on approach at building a startup in a largely underserved market; providing one the opportunity to create large scale vale and impact simultaneously Ramakrishna Pappu, Business Analyst, InnAccel Learning the process will give me experience in working with passionate teams such as the current one, to come up with ideas & solutions, important & necessary for the market today as well as assist other Fellows in the future
  6. 6. Medical Fellows part of the AIM In addition to the 4 Fellows being trained in the BioDesign process, the AIM program also has 4 Clinical Fellows from the Department of Emergency Medicine (DoEM) at the St. John’s Medical College Hospital in Bangalore, the location of the six week clinical immersion Dr. Girish Narayan, Assistant Professor, DoEM The AIM program is evolving Emergency Medicine by integrating technology into its practice and clinical education Dr. Yogesh Siddalingaiah, FEM Tutor, DoEM Necessity is the mother of all innovations. I want to help grow medical innovation in India from its infancy and be a part of this growth Dr. Raghuveer Rao, Consultant, DoEM I would like to invent something that would be less costly and which our people in India could afford. I realized about this since I am working in an institution where most of the patients are poor and some even can't afford 2 meals a day Dr. Vimal Kishore Kakani, Junior Resident, DoEM I always love to make things easier, and am good at bridging gaps and I see AIM at the proper means realize my goals and satisfy my instincts. After the program I would like to just follow my heart and give materialistic shape to my thoughts
  7. 7. InnAccel and the Affordable MedTech Opportunity InnAccel is India's first Affordable MedTech Acceleration ecosystem, aiming for global leadership in 10 years  Affordable medical devices and diagnostics are an integral part of any affordable healthcare system, and a critical need for billions of low-income consumers living in countries like India. However, these markets are dominated by Western MedTech products that are often inappropriate for the needs of these markets, and unaffordable by vast segments of the population - resulting in suboptimal healthcare and outcomes  Affordable MedTech is poised to become a $100+ billion market globally, and $25 billion in India, by 2025. This will require a new wave of innovation and products that address the resource- constraints, and affordability issues, in these markets. India can take global leadership in Affordable MedTech Innovation if the right innovation ecosystem is created, and also meet a critical healthcare need for millions of its citizens  InnAccel is creating such an ecosystem, anchored by MedTech Accelerators in key innovation clusters in India, to enable affordable MedTech innovation by startups - tapping a huge market opportunity while serving a critical social need
  8. 8. InnAccel’s Vision, Mission & Goals InnAccel is India's first Affordable MedTech Acceleration ecosystem, aiming for global leadership in 10 years Vision  To be the global leader in enabling Affordable MedTech Innovation for India and other emerging markets Mission  To provide a world-class technology acceleration platform to startups developing innovative medical devices and diagnostics for India and emerging markets 10 Year Goals  Accelerate 100+ startups through a national network of Medical Technology Accelerators  Deploy INR 1000 crores in these startups towards research, product development, and commercialization  Deliver 25+ transformational medical technologies to low and mid-income consumers in India and globally
  9. 9. InnAccel’s Programs Whether you’re a recent graduate, an experienced MedTech professional or just someone interested in MedTech Innovation & Entrepreneurship – InnAccel has developed structured programs across the spectrum to help spur MedTech entrepreneurship in India Affordable Innovation in MedTech (AIM) Fellowship InnAccel has introduced a 6-month hands-on program to train a multi- disciplinary team of 3-4 members in MedTech innovation. Participants are selected based on rigorous evaluation, and the chosen team will typically include engineers, product designers, and clinicians. The team will undergo a structured 6-month program, including a 6-8 week clinical immersion at partner hospitals, and 2 months of concept generation and prototyping. Participants will be paid a competitive stipend for the duration of the program & have the opportunity to form a startup at the end of the program. Entrepreneur in Residence (EIR) Program InnAccel invites mid to senior level MedTech professionals and clinicians to participate in our Entrepreneur-in-Residence (EIR) Program. This 3- month program is for passionate engineers, designers, business leaders, and clinicians who want to explore an area of interest, identify an opportunity, and create a business plan – with InnAccel's help. Seminars & Workshops InnAccel conducts half-day seminars and 2 to 7 day workshops at partner institutes to introduce participants to medical technology innovation, and provide preliminary training in unmet needs identification and concept development. These activities expose students and researchers to the opportunities in MedTech innovation and encourage them to explore this area as an entrepreneurial option.
  10. 10. Thank You To keep up to date on the latest news about InnAccel and opportunities in Affordable MedTech Innovation & Entrepreneurship, please follow our updates across our website, blog and social media platforms To subscribe to our newsletter please click here www.innaccel.com www.facebook.com/innaccel www.twitter.com/innaccel www.linkedin.com/company/innaccel innaccel.wordpress.com

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