The greatest constraint many innovations face is funding the start up phase. This is the point where your evidence generation should be completed (or at least well underway), and you have planned your market entry but now need to scale up into an actual company.
Some of the costs to consider will be:
- Staff
- Places e.g. an office location
- Manufacturing
- IP costs e.g. licensing (especially if your IP is owned by Imperial)
- Marketing
- Fees for regulatory requirements e.g. FDA submissions, MHRA submissions etc.
- Any further evidence generation and validation studies
You will likely need to acquire funding from multiple sources, but as a start, consider:
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