You are not alone: the challenge of scaling Canadian medical technology companies
Feature article in Biotechnology Focus by Darlene Pratt, CIMTEC's Director of Marketing Communications
Arguably, the most formidable challenge facing Canadian medical technology companies is the crucial interplay between sufficient financing and the ability to hire experienced talent early on.
Steve Plymale, CEO of Profound Medical Corp. says, “It has been difficult to find Canadians with the depth of management experience needed to scale our business quickly and make it attractive to investors.” Adds Plymale, “People are eager and academically qualified, but most of the talent is junior and we don’t have the luxury of time to develop their skills.”
Matthew Asselin, Director of Technology Development at the Centre for Imaging Technology Commercialization (CIMTEC) echoes Plymale’s sentiments with respect to technical talent. CIMTEC’s role is to provide specialized engineering expertise to help under-resourced medical device startups develop clinical prototypes. Asselin says, “CIMTEC has difficulty finding Canadians with the skills and relevant industry and regulatory experience to fill our software developer and mechanical engineering roles. We’ve started looking farther afield, which has its own set of challenges.”