Leverage the Advantages of the MMDA
You will enjoy fewer market constraints in working through the Michigan Medical Device Accelerator's (MMDA) process. Your advantages are:
- Lower cost development structure due to little to no overhead
- No existing occupied spaces which constrain our ability to execute in a specific market
- No legacy processes to follow or maintain
- A community-driven model encompassing the entire commercialization plan
The MMDA has accessibility to a number of large companies and medical professionals through a network honed by its management team, built over a 20-year history. By cultivating relationships with medical device companies, the MMDA gains access to referrals when these companies receive unsolicited ideas and prototypes. This level of access has benefits for all key stakeholders.
The MMDA can minimize costs through the development of multi-company management teams. For each technology in the MMDA, it will directly provide:
- Legal Services
- Business Development Director
- Management and Administrative Support
- Market and Feasibility Studies
- Commercialization and Operations Planning
- Talent Acquisition and Management
- Engineering and Industrial Design Services
- Financial Management
- Intellectual Property Protection
- Laboratory Facilities
- Office and Administrative Space
- Prototyping Facilities
- Purchasing and Procurement Services
- Reimbursement Expertise
- Regulatory Expertise
The MMDA uses a wide network of medical device companies that can provide the necessary resources to drive low-cost, efficient product development. This network enables the MMDA to move a concept from prototype to a profitable, manufactured product.
The MMDA will set up the initial business structure and recruit executives in all key areas to manage the start-up through a phased growth plan into a commercial enterprise.
The MMDA provides the ability to make investment decisions to ensure significant impact on the number of jobs created in Michigan.