chapter  30
16 Pages

- Raising Money for Your Medical Device Start-Up

So, you have a great idea, now what? Ideas by themselves are worthless. Executing on the idea will take capital. How do you go about getting this?

Tina Seelig, professor of entrepreneurship at Stanford, wrote a book What I Wish I Knew When I Was 20. In the book, she describes an exercise she gives to her students. Student teams are given $5.00 and two hours to generate the best returns they can, given the time and resources. Some of the students get the best results not even spending the $5. The point is that ingenuity and creativity can be worth more than money. Bootstrapping and resourcefulness are always the rst and best steps in fundraising.