How do you assess the opportunities for start-ups in the medical market in your country?
Kortelainen: In Finland, there is a lot of innovative work around medical devices and many start-ups in this field have been founded recently. The challenge comes from the funding the commercialization of these innovations as the return of investment is not fast due to required long-term R&D work and increasing regulatory burden.
What advice would you give future start-ups in the medical market?
Kortelainen: Do not underestimate the requirements related to the clinical validation and regulatory work of your future product. Consider these from the day one and find right people and/or service provides to help you. Try to find investors who also understand these and support you on the long-term development work required in the medical device field.
Please describe the medical technology industry in three words.
Kortelainen: Exciting, important, demanding
What are your plans for the next two years?
Kortelainen: We will focus on increasing our sales in Europe, advance our market entry in US and further develop our products to be used with new patient groups.