Start-up companies for accessible medical devices: two case studies

Low - resource and emergency settings are the new challenge for companies in the healthcare sector. In the world, there is a huge health gap, and the companies must contribute to reducing it. In addition, the COVID - 19 case shows that global healthcare is highly interconnected. Companies are called to follow the Sustainable Development Goals (SDGs) by redefining, i.e. by innovating, their strategies and business models, measuring the economic, social, and environmental impacts. Whenever the market, or the society, calls for innovation from the companies the fastest and most effective answer comes from startups and small and medium - sized enterprises (SMEs). The research for accessible medical devices is no exception. A lot of startups and SMEs around the world are addressing this issue, trying to make an impact and eventually a sustainable business model. IBD srl and Bioverse srl are two examples of companies, which develop medical devices specifically designed for low resource settings. Their products come from the concept of Reverse and Frugal Innovation, starting from the real needs and accurate analysis of the local resources. ‘Reverse innovation’, a well - established principle in the business world, describes the flow of ideas from emerging to more developed economies. There is strong and growing interest in applying this concept to health care [11]. Portability, user - friendliness, affordability, few disposables, low maintenance needed, and robustness are essential features for Low - Middle Income Countries (LMICs) but also attractive to High-Income Countries (HICs). Below Bioverse and IBD’s products together with their Business Models will be presented.