Accelerating Medical Innovation - from Penn to Pathfinder

60 %
40 %
Information about Accelerating Medical Innovation - from Penn to Pathfinder

Published on March 10, 2014

Author: pathf

Source: slideshare.net

Description

Pathfinder Founder and President Bernhard Kappe on what he learned about innovation during his time at Penn and through application of the lean startup approach, and howe he applies it to enterprise innovation in the FDA regulated medical space. Delivered to Penn and Wharton Alumni in Chicago.

©2014 Pathfinder Software 1 Accelerating Medical Innovation Pennovations – Penn/Wharton Alumni Bernhard Kappe, Founder and President, Pathfinder Software bkappe@pathf.com

©2014 Pathfinder Software Mobile and Cloud User Engagement Regulatory and Compliance Big Data – Analytics and Insights Wireless Devices and Sensors Accelerated Product Timelines Accelerating Medical Innovation

©2014 Pathfinder Software Heart Monitoring System

©2014 Pathfinder Software Heart Monitoring System

©2014 Pathfinder Software What I’m Going toTellYou 1. What I Learned About Innovation at Penn 2. Finding Lean Startup 3. Lean Startup in the Enterprise 4. Help from the Chicago Entrepreneurial Ecosystem 5. Next Steps in the Ecosystem’s Evolution 6. How to Get Involved

©2014 Pathfinder Software What I Learned About Innovation at Penn

©2014 Pathfinder Software Penn Philomathean Society – translated Rosetta Stone, started a number of departments – can do, try it.

©2014 Pathfinder Software Philomathean Society – translated Rosetta Stone, started a number of departments – can do, try it.

©2014 Pathfinder Software

©2014 Pathfinder Software Product Development at Pathfinder

©2014 Pathfinder Software Lean Startup/Customer Development

©2014 Pathfinder Software More startups fail from a lack of customers than from a failure of product development

©2014 Pathfinder Software All I Need to Do is Execute the Plan

©2014 Pathfinder Software All I Need to Do is Make the Forecast

©2014 Pathfinder Software Plan Meets First Contact With Customers

©2014 Pathfinder Software Previous 5-Year Plans

©2014 Pathfinder Software No Business Plan survives first contact with customers

©2014 Pathfinder Software Business Models

©2014 Pathfinder Software 9 Guesses Guess Guess Guess Guess Guess Guess Guess GuessGuess

©2014 Pathfinder Software Customer Development

©2014 Pathfinder Software 21 Turning Guesses into Facts

©2014 Pathfinder Software

©2014 Pathfinder Software

©2014 Pathfinder Software Lean Startup Data Driven Process to Find a Scalable Business Model Reduce RiskThrough Rapid HypothesisTesting Get Out of the Building (Genchi Genbutsu) Eliminate Waste through Minimal Experiments (Build-Measure-Learn Loops) Growing Body of Knowledge, Lots of Techniques

©2014 Pathfinder Software Enterprise Innovation

©2014 Pathfinder Software

©2014 Pathfinder Software The Effect of Product LifecycleCompression? Fortune 500 Turnover

©2014 Pathfinder Software Your Product Portfolio Share of Wallet Rev/Customer New Product Development Loyalty Churn LTV New Customers New Customer Revenue Customers/Markets Products Existing New Existing New High Uncertainty Low Uncertainty

©2014 Pathfinder Software Lean Startup in the Enterprise • Need Lots of “Shots on Goal” • Enterprises are Bad at Funding, Bad at Killing New Products – Lots of HIPPOs • Need to protect the startup from the enterprise … and the enterprise from the startup.

©2014 Pathfinder Software Lean Startup in the Enterprise: Lean Portfolio Management

©2014 Pathfinder Software Lean Portfolio Management Example $1MM total portfolio $300K for initial funding ($75K/quarter) If an EIR costs $100K, you could fund 3 new projects/quarter. This ratio would be adjusted based on failure rate. 31

©2014 Pathfinder Software Lean Innovation Stages Brainstorming, Business Model Generation, Hypotheses Problem Interviews, Landing Pages Stage Activities Solution Interviews, Wireframing, Proto typing, MVP, Channel Testing, First Sales Improve product - make it indispensable Validate UVP, Full User Lifecycle Funnel (AAARR), test channels, messaging, scaling Test pricing plans, optimize/reduce customer acquisition costs, increase LTV, improve NPS Scale sales and marketing, build organization

©2014 Pathfinder Software The Four Ps of Lean Portfolio Management Pivot - change hypotheses, go back and validate Persevere - keep optimizing, stay in stage Punt - Kill the project Promote - Move up a stage/investment level

©2014 Pathfinder Software Managing the Funnel with the 4 Ps Projects 100 50 25 12 8 6 3 Stage PuntPivot Persevere Promote

©2014 Pathfinder Software Portfolio Management Goals/Metrics - Get projects to move from idea to handoff as quickly and inexpensively as possible - When they fail, fail fast - Ultimately, IRR  But that takes 3-5 years - Average throughout by stage and overall  Use cohort analysis for this - Mean time to failure - Mean cost of failure Goals Metrics 35

©2014 Pathfinder Software Help from the Chicago Ecosystem

©2014 Pathfinder Software 37

©2014 Pathfinder Software 38

©2014 Pathfinder Software 39

©2014 Pathfinder Software What’s Next

©2014 Pathfinder Software

©2014 Pathfinder Software Heart Monitoring System

©2014 Pathfinder Software Getting Involved

©2014 Pathfinder Software Lean Startup/Customer Development

©2014 Pathfinder Software 45 http://pathfindersoftware.com T: 877.548.7248 F: 312.803.1941 bkappe@pathf.com Accelerating Medical Innovation

Add a comment

Related pages

Medical Innovation | LinkedIn

Current Medical Innovation (Founder, Managing Director) at Medical Innovation Consulting Past Senior Director, U.S. Clinical Division at ArjoHuntleigh ...
Read more

Introduction to Clinical Investigation | Harvard Catalyst

A two-day course on medical device innovation, ... Accelerating Clinical and Translational Research. ... The Introduction to Clinical Investigation ...
Read more

Esri Federal GIS Conference - NGA.mil

Esri Federal GIS Conference Feb. 10 ... NGA is accelerating our progress to advance the use of geospatial ... medical deployers save lives by creating a ...
Read more

Commercialization Of Technology | LinkedIn

View 2848 Commercialization Of Technology posts, presentations, ... President and Principal Consultant at Pathfinder ... Foundation on accelerating the ...
Read more

2014 Minority Faculty Career Development Seminar - Speaker ...

2014 Minority Faculty Career Development Seminar. ... by the AMA Accelerating Change in Medical ... Medical College of Georgia and the Penn State ...
Read more

DOWNLOAD Vampire et Indésirable - bookalltt.ru

DOWNLOAD Vampire et Indésirable - bookalltt.ru
Read more

Greenleaf Corporation

Greenleaf Corporation is a leading developer of cutting tool technology, ... Greenleaf continues to build on 60 years of innovation, ...
Read more

Usenet.nl – finest downloads since 1979

Trustworthy anonymity. Usenet.nl provides complete protection of your privacy and does not log IPs or any other data. Enjoy the diversity of Usenet in an ...
Read more