In a workshop today for early stage startups at Chicago incubator MATTER, Insight Partner and Executive Director of Insight Accelerator Labs, Steve McPhilliamy detailed how lean development methodology can be leveraged by startups and large enterprises alike to accelerate innovation.
Co-presented by Pathfinder co-founder Bernhard Kappe of Chicago, the workshop showed MATTER startup residents how to apply business model generation and the lean startup methodology across digital health, medical devices, therapeutics and diagnostics to dramatically increase the development speed and success rate of new medical products.
In the course of today’s workshop, entitled “Getting Out of the Building – The Lean Launchpad Methodology for Business Model Validation” participants were given a framework for navigating current healthcare industry challenges from the FDA pathway to marketplace complexity, the key distinctions of investment readiness for their respective technologies, the order of technology testing when transitioning to a lean startup model, and transitioning from single to parallel path validation, among other key lessons.