How to Build Connections That Matter in Medtech
The right relationships can open doors to funding, mentorship, clinical insights, and market access — opportunities that can make or break your journey. In this playbook, we explore how a few seasoned medtech leaders have leaned on their networks to turn ambitious ideas into thriving businesses.
Prioritize medtech savvy investors: Time is limited, so focus on connecting with investors and partners who understand medtech’s unique challenges and timelines. Seek out investors with industry-specific experience, particularly entrepreneurs-turned-investors who can provide both funding and operational advice.
Address your gaps with the right expertise: Collaborate with stakeholders like clinicians and payers early to align your goals with their needs. Be self-aware: focus on building relationships with those who complement your skill set and bring unique value to your venture.
Tap into university ecosystems: Universities are goldmines of talent and cost-effective research opportunities. Build relationships with academics and students to test, refine, and advance your technology. Target investors who bring wisdom, connections, and long-term support rather than capital alone.
Relationships thrive with hands-on involvement: Engage deeply with your team and partners to gain practical insights and foster trust. Quality matters over quantity when seeking input—identify two or three key stakeholders whose advice will meaningfully shape outcomes.
Be a lifelong student: Seek out mentors who will challenge and guide you with their experience and insights. Humility and openness to feedback are vital to growth. Act on input from key opinion leaders (KOLs) to strengthen both your product and relationships.
Narrow Your Focus on the Right Investors
Mara McFadden, CEO of Endolumik, is a UC Berkeley-trained mechanical engineer who began her career at Johnson & Johnson in endovascular stent manufacturing through their Global Operations Leadership Development program. She later managed a global P&L and led product launches at Philips Healthcare before pivoting to consumer tech, heading product development at 4Moms. Now, as co-founder of Endolumik, Mara is advancing surgical safety with their fluorescence-guided gastric calibration tube that enhances visualization in GI surgeries using near-infrared light.
Mara knows that finding the right connections is indeed a numbers game, but time is your most precious and limited resource—just like everyone else in this space. That’s why she suggests narrowing your focus when seeking potential partners or investors. "I try to be pretty judicious about investing my time in investors who have a history of doing medical device deals and can support that and are willing to take that risk," she explains. “You really do have to do your homework and find people who are comfortable investing in this space."
In short, focus on finding investors who understand medtech, particularly its unique timelines, risks, and regulatory hurdles rather than pitching to industry-agnostic investors. Targeting the right audience saves you time and grants you more meaningful discussions.
As a side note, Mara’s favorite group to work with is entrepreneurs-turned-investors. She says, "I love working with fellow entrepreneurs who have maybe had a successful exit or two and are now angel investing. Those are my favorite investors to work with because they can offer great advice." She finds extraordinary value in working with people who bring financial support and include operational wisdom in the package.
Beyond pragmatic networking, having a circle of like-minded people who are in the same boat as you is crucial, as being a CEO can be one of the loneliest jobs. As Mara puts it, "Entrepreneurship is really mentally hard. You need those people who you can vent to, who are going to help build you up and help take care of your mental health because it's taxing."
Building a network of peers, particularly other CEOs or founders, is just as important for emotional support as it is for practical guidance. In Mara’s case, connecting with other entrepreneurs helped her get through tough times. "I have a support network of women CEOs. Without other people who understood that role around me and who could be champions, I don’t think I could have made it this far." That is to say, cultivating relationships with peers in similar roles is invaluable. These connections go beyond professional advice—they help you stay resilient when challenges arise. So, as you join groups, accelerators, or industry events, prioritize connecting with other founders who truly get what you’re going through.
Know Your Ecosystem Inside and Out
Dr. Brett Wingeier is a biomedical engineer and expert in neuromodulation. During his initial tenure At NeuroPace, Brett helped develop the first FDA-cleared responsive neurostimulator for epilepsy to monitor and treat seizures in real-time. Later, he co-founded Halo Neuroscience, bringing non-invasive brain stimulation to consumers with the world’s first neurostimulation headset for movement training. After founding Magnus Medical, where he spearheaded the SAINT Neuromodulation System, an FDA-cleared breakthrough for treatment-resistant depression, Brett rejoined NeuroPace as Vice President of Research and Development.
Knowledge is power—whether it’s understanding regulatory frameworks, payer systems, or market dynamics. As Brett puts it, “Your competitive advantage as an entrepreneur, the IP you can carve out, all these things depend on understanding the system you’re trying to modulate because otherwise, we’re just making lucky guesses.”
In other words, don’t dive into building or scaling without first knowing the ecosystem you’re stepping into. Take the time to research the space thoroughly. Find mentors or advisors who’ve been through similar challenges—they’ll have the insights (and networks) to help fill in your blind spots.
Brett also reminds us that, as a CEO, you can’t excel in all areas. You need to recognize your strengths, and more importantly, where you need support—whether it’s technical expertise, commercialization, or regulatory strategy. Where you fall short, your partners should fill the gaps. Self-awareness plays a big role here—it helps you figure out who you should be partnering with. Look for people who complement your skills and bring something valuable to the table.
For entrepreneurs working on disruptive technologies, Brett offers a golden insight: you can’t change entrenched systems alone. Real progress requires buy-in from all sides—clinicians, payers, and others. “If you're trying to change culture, your approach has to be collaborative with various stakeholders. You need a lot of different influencers involved to push in the same direction." For that, a collaborative approach goes a long way in reducing friction and adoption. Start building those relationships early. Talk to clinicians, payers, and even patients to understand their perspectives.
And finally, Brett reminds us that networking isn’t just about quick introductions or exchanging business cards. Long-term partnerships and mentorships are built on trust and a shared vision. Sure, attending conferences and joining industry forums can open doors, but the real work happens after that. Be intentional about following up, staying in touch, and nurturing those connections. That’s how you turn a meeting into a meaningful relationship.
Stay Close to Universities
Lloyd Diamond, former CEO of Pixium Vision, has spent decades leading medtech companies across the U.S. and Europe, scaling Silicon Valley startups and overseeing successful exits and IPOs. At Pixium Vision, now acquired by Science Corporation—he led the development of a retinal implant system that uses neurostimulation and augmented reality to restore vision for patients with advanced dry age-related macular degeneration.
When it comes to finding people eager to move the needle in a startup setting, Lloyd suggests staying close to universities, which are rich with talent and research opportunities. “Put PhDs to work, use the university setting to really hone and prove scientifically the tech that you're trying to bring forward," Lloyd advises. You can build relationships with them through networking events. And collaborative research can be a cost-effective way to advance your technology while forming long-term partnerships.
Finding quick and solid connections will give you an advantage starting off. "Find the one or two investors early on, friends, family, seed, a group of investors, or angels, people really believe in your mission and whom you can count on when things get tough” Lloyd advises. This resilience isn’t just financial. “Some of these people have a lot of experience investing in early-stage companies, and they have a lot of collective wisdom," he notes. Investors who provide insights, connections, and support during challenging times are invaluable assets.
Finding supporters is crucial, but you can’t be desperate. Accepting money from anyone willing to invest is the worst strategy for the long term. Instead, target investors you want to partner with. “Especially in the early days, focus on investors who can support you beyond just the seed round. Even if they don’t join your Series A, they might connect you with others who will. Once they’re in for the A round, those same investors are likely to follow through in the B and C rounds. Remember, you’ll be working with them for a long time," Lloyd explains. In practical terms, this means researching potential investors thoroughly, focusing on those with a proven track record in your sector, and evaluating their ability to connect you to future funding opportunities. Successful fundraising should aim for true partnerships, not just transactions.
A critical part of building these relationships is projecting confidence in your technology and its potential to transform healthcare.
Confidence conveys value. Desperation weakens your position; framing your pitch as a win-win scenario, on the other hand, builds trust and excitement. Highlight the clinical need, market potential, and financial returns to craft a compelling narrative that resonates with investors. When you truly believe in your mission, others will too.
Roll Up Your Sleeves for Optimal Collaboration
Rob Ball, CEO of Shoulder Innovations, began his career as an automotive engineer but transitioned into the high-stakes world of medical devices thanks to an unexpected connection: his neighbor, BioMet founder Dane Miller. “In my conversations with Dane, I realized that the way we calculated margins in the automotive industry was completely different from how it’s done in the medical device industry,” Rob recalls.
Joining DePuy, a division of Johnson & Johnson, Rob honed his skills in product development. In 2013, he co-founded Genesis Innovation Group, an early-stage investment and advisory firm that supports medtech companies with financial backing and operational expertise, including R&D, regulatory compliance, and manufacturing. One of its standout successes is Shoulder Innovations, where Rob now serves as CEO. The company is addressing a niche challenge in shoulder arthroplasty: reliable glenoid fixation.
Relationships have been the cornerstone of Rob’s career. To take a leaf from him, always stay open to forming relationships, even in casual or unexpected contexts. The people around you might hold insights or connections that could alter how your career unfolds.
Genesis thrives on a collaborative spirit. Rob credits its operational engagement as a key factor in its success. “We literally have people packing boxes at Genesis. That level of earthiness gives a unique view on risks,” shares Rob. Hands-on involvement not only provides valuable insights into the lifecycle of a medtech company but also fosters stronger relationships with partners and team members. “Your network is not just about funding or advice—it’s about rolling up your sleeves with people who share your mission,” Rob emphasizes.
While Rob strongly advocates building authentic relationships, he also stresses the importance of quality over quantity, especially when seeking advice and input for deliberate actions like clinical trials. “You can’t design a clinical study with 12 people at the table. That’s impossible. You’ll never accomplish the task,” he explains. Instead, focus on identifying two or three influential stakeholders whose feedback can meaningfully shape outcomes.
Always be Learning
Joe Rafferty, CEO of Vesteck, began his career at industry giants like C.R Bard and Guidant, where he built a solid foundation in sales. Later, he ventured into startups, leveraging his extensive experience to lead Vestec, a company solving critical challenges in endovascular aneurysm repair.
Joe emphasizes the importance of surrounding yourself with the right people. His beginning move, as an early-stage startup, is to build an in-house team of exceptional talent. “When you've got rockstar engineers, you don't need to wait for a contract manufacturer or contract R&D person to fit you back into the queue and try to develop the ideas that you brought to them,” he says. This not only accelerates timelines but also fosters a collaborative environment where relationships between the team and advisors flourish.
Equally importantly, Joe credits much of his growth to the guidance of experienced mentors in the medtech ecosystem. “In the Philly area, Bruce Shook and Adam Dakin have been incredibly influential. They don’t just provide advice—they’ll challenge you to think critically and learn,” Joe shares. These mentors taught him strategic decision-making in medtech with humility and openness.
To follow in Joe’s footsteps, look for veterans who challenge and guide you. Actively seek mentors who have walked the path you’re on. Their insights can save you time, effort, and costly mistakes. Be willing to ask for help and listen to their feedback, even when it’s tough to hear. This mindset helped Joe build a network of prominent key opinion leaders. He recalls how Dr. Venkatesh Ramaiah candidly validated Vesteck’s concept: “If your device does what it says, you have a simple solution to a global problem.”
“One of the highest levels of respect you can pay to a clinician is to act on their suggestions and show them results quickly,” Joe shares. This granted Joe trust and loyalty among his collaborators. Recognizing the potential of the technology, and Joe’s sincerity, Dr. Ramaiah later joined Vesteck’s scientific advisory board, lending both his expertise and endorsement.
Having a mentor's trust also creates a ripple effect. Engaged and trusted clinicians become vocal advocates, opening doors to broader networks, supporting clinical trial recruitment, and lending credibility in discussions with investors.