Jester startup stories is a blog series of successful startups that we have had the pleasure of working with and want to share with you. We hope these stories inspire discussion and action for the benefit of the startup-genre.
MedicSen´s story begins in May 2014, when a Little girl rejected the diabetes treatment and I, Eduardo W. Jorgensen saw it.
My first idea was to develop an “artificial pancreas” that combined an implantable device similar to an internal reservoir capable of measuring blood glucose and delivering insulin in response.
In January 2015 was able to form a team of doctors and telecom engineers. We did a lot of research and came to a conclusion: we had to get rid of needles and decrease the constant concern in order to improve patient´s quality of life. The business analysis made us realize that we had to keep it external, outside the body, in order to make it cost-effective. Then we divided into three phases in March 2015: algorithm, sensors and delivery system.
We got our first investment and those investors guided us to leave the sensors development behind because it wasn´t part of the company´s value proposal and there were tons of competitors doing it, so we decided to connect with third party wearables instead of developing our own in August 2015.
Our business model was centered around the B2C at the beginning, but we though no one was going to pay, so we shifted to a B2B approach and realized that in order for the big companies to pay, you have to prove something first. So we rethought the B2C model with gifts and rewards involved, tested it and had positive results around February 2016.
Our first algorithm´s predictive time horizon reached only 30 minutes, and when we tested it with patients they complaint of it being very short. We had to refocus on different techniques that allowed to extend the time horizon. During this period we grew the team with 5 members (two for the algorithm, one for the app and two engineers). Shortly after we lost a couple of them because the company didn´t have enough funds, so we had to redo the business plan, timeline and goals in order to meet our resources.
Based on the important functionalities that we identified on the tests, we built our first product and tested it in the first half of 2015. Results were not good because even though it had all the important functionalities, it was too much to handle for the patient and in a very scientific way, so we changed the approach to the chat-bot interface. Patients like it and one can see an increase in the time using the app (September 2016).
Looking at the delivery system, part of the team never felt confident with us being capable of developing it on our own. We were lucky to get an amazing industrial engineer on board the team in June 2016. He fostered all the R&D and came to a working prototype in less than 6 months. We had to redesign the system each two months from June 2016 to February 2017 in order to reach a viable product from the medical, business and user perspective.
Entrepreneurship is a long, rocky path of constant learning. You need others to support you in the way, but you will find that sometimes, even your team mates make it hard to continue. Finding good talented people, establishing efficient communication protocols and settling an authority chain is key to build a proper team capable of delivering awesome products. The world has too many obstacles, don´t let your team become one, because it will be the biggest.
Eduardo W. Jorgensen
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