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Learning notes of transformation from a physician to a medical device startup entrepreneur.

Learning notes of transformation from a physician to a medical device startup entrepreneur.

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  • This is another option for an overview slide.
  • What will the audience be able to do after this training is complete? Briefly describe each objective and how the audience will benefit from this presentation.
  • What will the audience be able to do after this training is complete? Briefly describe each objective and how the audience will benefit from this presentation.
  • What will the audience be able to do after this training is complete? Briefly describe each objective and how the audience will benefit from this presentation.
  • What will the audience be able to do after this training is complete? Briefly describe each objective and how the audience will benefit from this presentation.
  • What will the audience be able to do after this training is complete? Briefly describe each objective and how the audience will benefit from this presentation.
  • What will the audience be able to do after this training is complete? Briefly describe each objective and how the audience will benefit from this presentation.
  • What will the audience be able to do after this training is complete? Briefly describe each objective and how the audience will benefit from this presentation.
  • What will the audience be able to do after this training is complete? Briefly describe each objective and how the audience will benefit from this presentation.
  • What will the audience be able to do after this training is complete? Briefly describe each objective and how the audience will benefit from this presentation.
  • Microsoft Engineering Excellence Microsoft Confidential

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  • 1. National Science Council, Taipei, Taiwan A Fantastic Journeyof Learning Innovative Medical Devices in Stanford University and Silicon Valley John Tsung-Chun Lee, M.D. Staff Physician Clinical Instructor Gastroenterology, Internal Medicine, National Taiwan University Hospital 2012/04/11 E-mail: johnlee0212@gmail.com www.linkedin.com/in/johntclee
  • 2. 國科會報告 , 台北 , 台灣 一位台灣醫生走出象牙塔外之美國史丹福大學與矽谷高階醫療器材產 業的奇幻旅程 李宗錞醫師 內科 胃腸肝膽科 消化內視鏡專科 主治醫師 教育部部定講師 台灣大學醫學院 台大醫院 2012/04/11 E-mail: johnlee0212@gmail.com www.linkedin.com/in/johntclee
  • 3. Outline • One-year journey at Stanford and Silicon Valley • Biodesign Program • Ecosystem of medical device industry • What we can do in Taiwan • Alumnus’ view on STB program – Recruit, in-program, afterwards • National Architect to replicate Silicon Valley! • D isclosure2012/04/11 copyright John Tsung-Chun Lee 3
  • 4. Stanford University (established since 1891)2012/04/11 copyright John Tsung-Chun Lee 4
  • 5. Stanford-Taiwan Biomedical (STB)program• Since October 2008, 2 batches per year• A group of physicians, engineers• Duration: one-year – 2010/10/01 – 2011/09/30• Hosted by Prof. Peter Fitzgerald – Cardiovascular Medicine, School of Medicine, Stanford – Engineer, Interventional cardiologist, Inventor, Venture Capitalist• Office at – Center for Cardiovascular Technologies (CCVT) – Stanford University Medical Center (SUMC)• Status – Visiting Scholar of Stanford University – Audit classes of interest (medical, engineering, business schools)2012/04/11 copyright John Tsung-Chun Lee 5
  • 6. Where do innovation come from?2012/03/09 copyright John Tsung-Chun Lee 6
  • 7. My journey- 3 essential credits2012/04/11 copyright John Tsung-Chun Lee 7
  • 8. 2012/03/09 copyright John Tsung-Chun Lee 8http://www.siliconmaps.com/silicon_valley.html
  • 9. The Silicon Valley Way (mindset)• Dream Big !• Change the world !• Dare to dream• Dare to try• Rapid prototyping• Fail fast then try another one• Rapid iteration• Lean startup• Partnership between entrepreneur and venture capitalist• “The StartUp Game” (William H Draper III)2012/04/11 copyright John Tsung-Chun Lee 9 http://www.amazon.com
  • 10. Design thinking (d.school at Stanford Univ) "Human–Centered Design"How to conduct an high-impact brainstorming:•Warming-up•Empathy: prime sub-consciousness•Focus – problem – Status quo and Specifications•Explore four quadrants for insights – X-axis: Logics & Emotion – Y-axis: Spoken & Unspoken•Creative within constraints • Time; Resources•Forget all the rules, Let’s brainstorm!•Think by prototyping; Try by prototyping2012/04/11 copyright John Tsung-Chun Lee 10
  • 11. Design thinking crash course at d.school,2012/03/09 Stanford Univ., 2011/01/08 copyright John Tsung-Chun Lee 11
  • 12. Snapshot at d.school2012/04/11 Design thinking crash course at d.school, copyright John Tsung-Chun Lee 12 Stanford Univ., 2011/01/08
  • 13. Creativity comes with child-like excitement2012/04/11 Design thinking crash course at d.school, copyright John Tsung-Chun Lee 13 Stanford Univ., 2011/01/08
  • 14. Dialogue between MD and Engineer 雞同鴨講? 非也 , 異中求同 - 同中求創新 ! Apprenticeship; Different tracks Vall Silicon Valle CBA: Biotech, Life Science Organization in Bay Area, California - A Biotech ORGANIZATION MEMB2012/03/09 copyright John Tsung-Chun Lee HOME AB OU T U S EVENTS NEWS MEMBERS 14 CONTACT Board Members Advisors
  • 15. Biodesign thinking process -new thinking, forget about SCI ! • Identification (Disease insight) • Solid unmet clinical need • Large market potential; Back-of-envelop analysis • Innovation (Device insight) • Design thinking • Rapid iteration • Implementation (Business insight) • Three hurdles to overcome: Intellectual Property, Regulatory, Reimbursement • Clinical adoption, Sales and Marketing, Channels • Business model • Exit strategies2012/03/09 copyright John Tsung-Chun Lee 15
  • 16. P. G. Yock, T. J. Brinton, S. A. Zenios, Teaching Biomedical Technology2012/03/09 copyright John Tsung-Chun Lee Discipline. Sci. Transl. Med. 3, 92cm18 (2011). 16 Innovation as a DOI: 10.1126/scitranslmed.3002222
  • 17. Essence of Bio-design• Design: purposeful invention for the good of patients• Patient – first; Patient – centered; Patient - oriented• Disruptive innovation, not incremental improvement or cost-down approach (although affordable medicine is the trend)• Market-driven (global market, emerging market, niche market)• Reasonable anticipated return• Therapeutic device better than diagnostic• Multi-disciplinary approach/team from beginning to end• Rapid iteration• Industrial feedback (instant, timely, practical)• Business project, not scientific project for SCI academic publications2012/03/09 copyright John Tsung-Chun Lee 17
  • 18. Secrets of successful innovation forentrepreneurs• Find solid, data-proven unmet clinical need• Passion about it• Follow you heart• Dive deep, Know everything about it• Find the best professionals to form a complimentary team• Form hypothesis along the way, test and revise• Rapid iteration• Intellectual property (IP) portofolio protection as the most early and important task2012/04/11 copyright John Tsung-Chun Lee 18
  • 19. Eco-System of medical device industry • Entrepreneurial team • Venture capitalist, Angel investor • Design and prototyping companies • Pre-clinical testing companies • Attorneys (IP, Legal, Accounting, M & A, IPO) • Consultants (regulatory, manufacturing, reimbursement) • Doctors, Scientists, Hospitals • Contrast Research Organizations (CRO, trialists) • Businessmen (Salesforce, Marketing, Channels) • Experienced entrepreneurs, mentors2012/04/11 copyright John Tsung-Chun Lee 19
  • 20. Importance of networking • “Silicon Valley is built on “Merit”( 成人之美 ) (Trust) • “Merit rules out” (John Roos, CEO of WSGR) • Proximity within Silicon Valley area: work & life together • We need to – Learn from them about “Insider’s know-how” – Get involved – Tap into the US medical device value chain2012/04/11 copyright John Tsung-Chun Lee 20
  • 21. Building connections … LinkedIn, Tweeter Medical Device conferences Starbucks coffee, Peet’s coffee, …2012/04/11 copyright John Tsung-Chun Lee 21
  • 22. Cross-Pacific Strategy -- Rooted in Taiwan, Leveraging Silicon Valley2012/04/11 copyright John Tsung-Chun Lee 22
  • 23. Strategies to design and build EcoSystem of medical device industry in Taiwan • Bottom-up and Top-down approaches • What resources do we have ? • Incentives for stakeholders inside and outside Taiwan ?2012/04/11 copyright John Tsung-Chun Lee 23
  • 24. Taiwan’s advantages Precision manufacture P. G. Yock, T. J. Brinton, S. A. Zenios, Teaching Biomedical Technology2012/03/09 copyright John Tsung-Chun Lee Discipline. Sci. Transl. Med. 3, 92cm18 (2011). 24 Innovation as a DOI: 10.1126/scitranslmed.3002222
  • 25. What are missing? Entrepreneurs, Job-shifting Talents, Experienced Executives P. G. Yock, T. J. Brinton, S. A. Zenios, Teaching Biomedical Technology2012/03/09 copyright John Tsung-Chun Lee Discipline. Sci. Transl. Med. 3, 92cm18 (2011). 25 Innovation as a DOI: 10.1126/scitranslmed.3002222
  • 26. What can we do in Taiwan ? • Biodesign innovation workshops – Educate physicians, engineers, and investors • Clinical shadow observation in the hospital – Source of unmet needs and new ideas • Prototyping services for medical devices – Rapid iteration, proof-of-concept testing • Early-stage investment in medical devices – Government or Corporate seed funding • First-in-man trials in Taiwan • Close and continuous connection with Silicon Valley2012/04/11 copyright John Tsung-Chun Lee 26
  • 27. Important professionals in Silicon ValleyDr. Paul Yock Dr. Peter Dr. Jay Pasricha Mark Deem Jim Swick Fitzgerald,CV, Biodesign GI, Innovator CTO, Foundry Ex-CTO, LyChron CV, VC Dr. Yue-Teh Jang Dr. Joseph Yang Entrepreneur, VC TECO, San Francisco 2012/04/11 copyright John Tsung-Chun Lee 27
  • 28. Taiwan -- innovation starts from here! Conceived in Taiwan First-Trialed in Taiwan “ 台灣發想 矽谷設計 台歐認證 行銷全球 ”2012/04/11 copyright John Tsung-Chun Lee 28
  • 29. 居廟堂之高 ,則憂其民 范仲淹 岳陽樓記 替未來的年青學子 謝謝國科會的長官們