Berman Sees Signs of Hope, Concern in Medtech Innovation
Mike Berman says he doesn’t have a choice.
The Medtech veteran has co-founded eight companies including Velocimed, acquired by Boston Scientific. He now invests in start-ups himself and on behalf of RiverVest Venture Partners.
He could slow down and avoid the increasingly difficult slog of putting together a Medtech start-up, but he knows two things.
“I’m a crappy golfer and I’m pretty good at what I do here,” he says. “I love the process of learning about clinical problems, working with physicians, finding investors, and working with management teams. I love doing it. It isn’t even a choice.”
But Berman knows starting and investing in Medtech companies is getting harder. He’s had to adapt by shifting a part of his portfolio into later stages. He also looks internationally for opportunities, with a particular focus on Israel.
What is his assessment of today’s Medtech start-up culture? Venture investors will remain cautious, but there is money available, Berman asserts.
“There are new interesting pockets of financing, family offices, money from Asia, public markets that previously weren’t open like Singapore and Australia,” he says. “That does help entrepreneurs move their companies forward without having to access traditional venture capital.”
Berman shares other hopeful stories from Israel where entrepreneurs are getting creative. But we ask him what he’d recommend to a young person looking to start a career in early-stage Medtech.
Watch the interview for his answer.