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Tuesday
03
APR

Talk on Entrepreneurial opportunities in Medical Devices

17:00
18:30

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Category
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Theme:
When software and electronics help a patient, it creates a business opportunity. Sialkot surgical is $400 million-dollar-industry but medical devices is $250 billion-dollar-industry.

About Speakers:
Farrukh, Frank, Eric and Michael started a startup Byonyk to bring cutting edge therapies to Pakistan. In the process they will build medical devices and get them approved from FDA. Dr. Franklin J. Rudolph has a Ph.D. in electronics and he has worked on many cutting-edge technologies including world’s biggest flywheel.

Farrukh Usman has a master from Harvard and he was involved design of kidney dialysis machine, artificial pancreas, insulin pump, and drug delivery system for cancer patients.

Business Opportunity:
The surgical instrument manufacturing industry originated in the early 1940’s in the Sialkot city. The sector manufactures a wide range of medical, surgical and veterinary instruments and exports 80-90% of it. Sialkot instrument industry is around 400 million dollars which is approximately less than 2% of the global surgical instrument industry in terms of revenue through producing 1/4th of the world’s surgical instruments. Acknowledging the fact that Sialkot has developed its own International Airport, the city still lacks the innovation and development in the field of medical biotechnology. The Global high end technological medical device industry is $250 billion which is ten times bigger than the entire Sialkot surgical instrument industry. Hence, it’s time for Pakistan to join the global market in terms of innovation and high technology development.

Bullet Proof Software:
Another significant conclusion derived from the above mentioned facts, is to develop bulletproof software systems. Human lives depend upon these systems. Have you ever plugged in a USB cable and applied a software fix to the ABS breakings system of a car? Or have you ever seen abs breaking system not working and giving error 404 on the screens? Unlike Android and IPhone which are backed by one of the most resourceful companies of the world, it’s time for us to learn and write our own software’s to the level where a 747 landing gear or your mother’s pacemaker can rely on it. This will be one of the many skill sets to be brought for establishment of business domains in Pakistan