Chrysalis

Chrysalis Incubator is a medical technology incubator that employs a purposely structured, four-phased approach to help entrepreneurs succeed in developing innovative medical technologies. This methodology ensures that projects are systematically guided from initial concept to market readiness.

phase Zero:

Setting Up for Success

phase One:

Structuring for Success

phase Two:

Business Blueprint

phase Three:

Secure Funding and Plan for Launch

The Chrysalis Incubator Process

Setting Up for Success: Define the unmet therapeutic or diagnostic need, explain how your product addresses it, and analyze the market size and competition, as well as reimbursement pathways

Structuring for Success: Phase One focuses on setting up the necessary structure to support the output of Phase Zero.

Business Blueprint: Phase Two, also known as the Business Blueprint, involves prioritizing, setting up, and assigning resources to implement the strategies defined in Phase Zero. This phase ensures that the project is ready for execution.

Secure Funding and Plan for Launch: Phase Three articulates your business story to secure funding from the right sources to support the project.

Phase Zero: Setting Up for Success

At Chrysalis Incubator, the Phase Zero program is the foundational phase designed to enhance clients' innovation pipelines by systematically addressing unmet medical needs and developing effective solutions. This phase is further structured into three distinct stages, each with specific steps to guide the development of medical technologies from problem identification to integration into the Design Control process of your company. The Phase Zero program includes a stage gate process to ensure disciplined progression through each stage.

Stage One: Identifying the Problem to Solve

· Step 1: Needs Finding: Research and engage with stakeholders to uncover unmet medical needs.

· Step 2: Needs Statements: Articulate identified needs into clear, actionable statements.

· Stage Gate: Review and approve needs and statements.

Stage Two: Inventing the Right Device/Solution

· Step 3: Concept Generation: Brainstorm and develop a range of potential solutions.

· Step 4: Concept Screening: Evaluate and screen concepts based on feasibility, impact, and alignment with your companies’ strategic goals.

· Stage Gate: Select concept(s) for further development.

Stage Three: Implementing the Product into Design Control

· Step 5: Strategy Development. Plan the transition to Design Control, including design, prototyping, testing, and compliance.

Strategic Planning: Developing strategies for Intellectual Property (IP), Research & Development (R&D), Regulatory pathways, Clinical trials, Quality assurance, Reimbursement, Marketing, Stakeholder engagement, Sales and Distribution, Competitive Advantage, and Business development.

· Stage Gate: Review all strategic elements before full-scale development.

Phase One: Structuring for Success

Resource Needs Assessment: Evaluating the required resources such as personnel, expertise, office/lab space, access to healthcare systems, and other technologies needed for development.

Phase Two: Business Blueprint

Phase Two, also known as the Business Blueprint, involves prioritizing, setting up, and assigning resources to implement the strategies defined in Phase Zero. This phase ensures that the project is ready for execution.

Phase Three: Secure Funding and Plan for Launch

Key Activities:

· Understanding Capital Needs: Assess the capital required to fund the company or project.

· Telling your story: Creating your comprehensive and “elevator” pitch decks.

By following this structured approach, Chrysalis Incubator helps medical technology entrepreneurs navigate the complex process of bringing innovative solutions to market, ultimately improving patient outcomes and driving sustainable growth.