Collaborative Medical Device Development Success

Great product ideas begin with a flash of inspiration, often fueled by the inventor’s specific expertise. But turning those ideas into reality requires a whole different set of skills, and the inability to connect those dots can keep a brilliant concept from ever seeing the light of day.

That’s the problem one physician was facing. His medical knowledge sparked the idea for a new medical device, but the technical complexity and potential costs of bringing in engineering expertise seemed overwhelming. However, a chance encounter at a party connected him with a regular Rose-Hulman Ventures client. This stroke of luck led the doctor to Terre Haute and the product development experts at Rose-Hulman Ventures, opening the door to realizing his vision.

Thalasso Therapeutics reports that the Rose-Hulman Ventures team didn’t just provide technical expertise; they also brought a wealth of knowledge about accessing innovation funding opportunities. This proved crucial for the project’s advancement.

“Working with student interns would already be very cost-efficient, but they also unlocked the opportunity to secure vouchers and grants from the state for research and development costs,” according to a company statement. The Rose-Hulman Ventures team played a key role in creating detailed project proposals, providing all the necessary information to successfully secure innovation voucher funding through Applied Research Institute (ARI) and the Indiana Technical Assistance Program (INTAP).

The company notes that the Rose-Hulman students involved in the project brought a thirst for new technologies in computer science and hardware integration. “They had a desire to stretch their abilities, learn new things and put in the effort necessary to make the project successful. We couldn’t have asked for a better team.”

The blend of the client’s medical expertise and the problem-solving prowess of the Rose-Hulman Ventures team has been a recipe for success. The project manager and interns have consistently offered creative ideas to overcome unexpected obstacles.

“It was a very collaborative effort,” the company reports. “Their fresh perspective and dedication have been invaluable. Rose-Hulman Ventures is truly helping us realize our dream.”