How to Be Resilient as a Startup Medtech CEO

Lloyd Mencinger's extensive journey in the medtech industry, which includes working with major companies such as Baxter, Edwards Lifesciences, and Boston Scientific, has provided him with invaluable insights and experiences, both domestically and internationally. His vast expertise is what ultimately led him to his current position as CEO of Aqua Medical.

Aqua Medical is at the forefront of innovation, developing groundbreaking platform technology for vapor-based endoscopic ablation therapy designed to treat type 2 diabetes with a 30-minute outpatient procedure. The technology is likely to be a game-changer for multiple diseases that affect the gastrointestinal tract, including type 2 diabetes, Barrett's esophagus, and pancreatic cysts.

Aqua’s cutting-edge treatment has demonstrated promising results in animal studies and is on the cusp of entering human trials. The procedure's potential for long-lasting efficacy of up to two years is quite remarkable, especially given its minimally invasive nature.

In our conversation with Lloyd, we trace his career journey in the medtech industry and the challenges of keeping a medical device startup going. Lloyd also talks us through the story behind Aqua Medical's technology and discusses the future of gastrointestinal disease treatment.

Key Learnings from Lloyd’s Experiences

• Embrace capital efficiency and rapid iteration in your startup journey. Keep your organization lean and focus on quickly cycling through prototypes. This will help you reach proof of concept faster considering your resources are extremely limited.

• ​​Focus on driving value in your company rather than solely aiming for an acquisition. Work towards achieving milestones that increase the company's worth and provide a sustainable path forward. 

• Persevere through the fundraising process. If you encounter low success rates for pitches, don’t get discouraged right away, but keep reaching out to potential investors. Remember that the journey can be lonely, so lean on your support network, faith, or other sources of encouragement to help you navigate the challenges of raising capital.