A Dozen Start-up Companies Participate in Boot Camp
By Edwin L. Aguirre
The Massachusetts Medical Device Development Center (M2D2), together with attorneys from Nutter McClennen & Fish LLC, recently hosted the Nutter Strategic Planning Program at Wannalancit Mills.
M2D2 is a UMass LowellߝUMass Medical School initiative that helps entrepreneurs and inventors move new medical device ideas from patent to commercial production. The 130-year-old Nutter McClennen & Fish LLP is one of the largest law firms in Boston.
“The Nutter Strategic Planning Program is a boot camp for technology entrepreneurs and early-stage companies,” says Nutter partner William Geary, who received his bachelor’s degree in Plastics Engineering from UMass Lowell in 1980. “It is designed to meet the needs of start-up companies that are ready to undergo sophisticated strategic planning and take important next steps in the formation and growth of their businesses.”
About 12 companies participated in the program, and are currently collaborating with M2D2 for prototype development, clinical testing and/or business development activities. A few more M2D2 companies have already started their customized sessions with Nutter’s attorneys.
“Strategic planning is the key to success of any start-up,” says Plastics Engineering Prof. Stephen McCarthy, co-director of M2D2. “In addition to fulfilling an unmet medical need, aspects such as the type of organization, sourcing capital, intellectual property strategy and regulatory issues decide whether a company makes it through the ‘valley of death.’”
McCarthy says the seminar gave an overview of the customized counseling program offered by Nutter and provided attendees with four one-on-one free customized counseling sessions to help them understand the underlying legal issues in the medical device commercialization process.
For more information, go to www.uml.edu/M2D2 and www.nutter.com.