As the president of Synaptive Medical, a company dedicated to the development of neurosurgical technologies, serial entrepreneur Cameron Piron knows what it takes to build and grow a successful company. More importantly, he’s done it in healthcare, a sector in which launching new technologies is often costly and time-consuming.

Cameron, who was recently named one of Fast Company’s most creative people of 2015, recently gave a talk at MaRS Mornings, a monthly speaker series celebrating creative founders. He shared some of his experiences launching disruptive technology companies in the medical imaging, surgical intervention and advanced materials spaces.

MaRS Mornings Cameron Piron
Cameron Piron speaking at MaRS Mornings

Synaptive Medical’s technology allows doctors to see the nerve pathways in a patient’s brain through 3D interactive images. It can help doctors plan safer surgeries by enabling them to map out their surgical approach in advance—no wonder it’s been called the “Google Maps of surgery.”

Here are just some of the points Cameron touched on during the event. If you missed his talk, you can follow the conversation on Twitter using the hashtag #MaRSMornings or check out the Storify recap below.

Synaptive 3D brain scan
Synaptive Medical’s technology allows doctors to see 3D scans of the brain

Choosing a focus and strategy

  • Establish a plan that addresses the needs of all stakeholders.
  • Learn when to stick to your plan and when to change course.
  • Establish and build the appropriate team to execute the plan.
  • Remember that financing is not a strategy in itself; it’s meant to support the execution of your plan.

Intellectual property protection

  • Your intellectual property is your most valuable asset. Early mistakes will haunt you later.
  • Develop strategic investments in core patents. Don’t waste money on non-core patents.
  • Make sure that your claims match your business plan.

Regulations and pricing

  • Regulations and pricing should not be an afterthought. They are an integral part of your business plan.
  • If you don’t have funds to pursue now, find experts who will bless your game plan. Your plan should include a review of what your competitors have done, where any complications or delays could arise and the timing of any clinical trials.

When to sell your company

  • Be prepared to sell when a buyer approaches you with the right price. You can’t control the timing of the exit, but you can control your success en route and work on positioning your company.
  • You should also be prepared to sell when you need extra fire power or a wider network.
  • Be willing to walk away even after the process starts.

Join us at the next MaRS Mornings

At the next MaRS Mornings event on Wednesday, June 3, we will hear from Antoine Paquin, founder and CEO of Solantro. The event is free, but registration is required. Register at marsdd.it/marsmornings.

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Jelena Djurkic

Jelena Djurkic was the Senior Associate, Content Marketing at MaRS. Follow her on Twitter @jdjurkic. See more…