Tom Krummel, the co-director for Stanford University’s Biodesign program, says up-and-coming entrepreneurs should be looking for a problem to be solved, rather than the technology to solve it.
“Technology-driven innovation inevitably becomes the hammer looking for the nail,” Krummel told WisBusiness.com. He’s the keynote speaker for the upcoming WARF Innovation Day, an annual event highlighting cutting-edge research happening in the state. This year’s event will be held Nov. 5 at Monona Terrace in Madison.
In his address, Krummel plans to discuss some trends in applied technology, drawing on his background as a surgeon, entrepreneur and educator. Over the past several decades, he’s seen a gradual shift in health tech innovation as the importance of the value proposition becomes more central.
“I’ll contrast that to 10 years ago, where if something was 10 percent better at twice the cost, that was all green lights,” he said. “Now it’s clear that in med tech, health tech… if you can’t clearly enunciate the value proposition, you’re dead in the water.” Read the full story here.