Abstract
Innovation is vital for progress in any industry. Evolving technology, paired with
human ingenuity, brings ideas for prototypes and business models. Many physicians
conceptualize platforms to serve their patients; however, many struggle and ultimately
fail to bring their product or service to market. Financing is often the limiting
factor. Studies have proven venture capital (VC) funding to be a pivotal source for
helping a business survive in its early stages. Plastic surgeons can benefit from
learning how to seek out VC funding. In this presentation, common terminology and
key players will be defined, from seed capital to angel investors. Doing recommended
“homework” will help the plastic surgeon identify a financier tailored to their specific
needs—ideally one with a focus in the medical space. A clear-cut approach to assembling
a “pitch deck” presentation will be outlined to prepare the plastic surgeon for their
first meeting. Insider pearls will be presented from the VC perspective. The plastic
surgeon should be prepared to answer fundamental questions expected at different stages
of the process. Nevertheless, each meeting also serves as an opportunity for the plastic
surgeon to probe the VC firm and their intentions. The role of background checks,
social media, and electronic profiles will be discussed. Transparency from both parties
at all times can help establish a successful relationship, even if it ends in a referral
to a better suited VC firm. Between January and September of 2017, $12.1 billion of
seed and VC was invested into life science companies in the United States. Growth
is exponential. The surgeon is at the frontier of developing ideas and cutting-edge
products that help us serve our patients with enhanced care and improved outcomes.
In seeking out the proper financier, your product or service can become a reality
in the market, contributing to the betterment of medicine and plastic surgery.
Keywords
venture - seed - capital - funding - startup - entrepreneur
