This week The Startup Club features Implandata, digital transformation of glaucoma care since 2015.
Their eyemate® system is an innovative solution that combines state-of-the-art medical technology with digital health solutions. The eye pressure measurement system consists of an implantable micro sensor, responsible for pressure sensing, which allows for better therapy delivery and more efficient disease management in glaucoma patients.
We spoke to Implandata Founder and CEO, Max Ostermeier, to learn more about the company and their entrepreneurial journey.
The Startup Club: Tell us about your company.
Implandata: Implandata is an ophthalmic health tech company, which is transforming the treatment of glaucoma patients with its breakthrough EYEMATE system for remote disease management. The EYEMATE system is CE marked and ready for European market launch and has obtained FDA Breakthrough Device Designation for expedited approval also in the USA.
The Startup Club: What made you become an entrepreneur?
Implandata: There are still many unmet needs in healthcare and we will see even more challenges due to growing and aging populations worldwide. Improvements need to be made at various levels and I enjoy working on high-impact disruptive solutions, which have a high risk of failure, but if successful will change the way patients are managed.
The Startup Club: What is the most challenging part of running your own startup?
Implandata: The challenges change during the life of a start-up. At the beginning you face primarily technology and usability challenges, after a first product design clinical validation and regulatory approval is the next major step to take. And once a first market approval is there, market access presents another huge hurdle to take. During this journey these challenges have to be handled. The constant challenge however is the funding of this journey to make sure that sufficient resources are there to execute fast and efficiently.
The Startup Club: What is the biggest challenge you have faced when looking for funding?
Implandata: The biggest challenge in fundraising is, when external factors like the current situation in the financial markets and the economic uncertainty, where investors in general are more cautious to engage themselves in new investments. In such phases it is important to have loyal shareholders and investors, who help you through these phases.
The Startup Club: What is the most rewarding aspect of entrepreneurship?
Implandata: Seeing progress at any scale and mastering above-mentioned challenges presents a huge reward to entrepreneurs and entrepreneurial teams, which compensates for all the efforts, setbacks and sometimes frustration. And finally to see that your product makes a change and finds acceptance by caregivers and adoption by patients. As an entrepreneur you need to be intrinsically motivated and you have to show resilience and persistence, otherwise one would be not ready to pay the price for running a start-up.
The company is currently looking for a funding of €5M.
To know more about the company, please feel free to visit their website: https://www.implandata.com/