Why Building a Community is Crucial for Medical Device Startups
Interview with Blackrock Neurotech Co-Founder and CEO Marcus Gerhardt
A common thread runs through Marcus Gerhardt’s career: If a company involves technology and disruption, it’s probably calling his name.
Marcus co-founded Blackrock Neurotech in 2008 with his long-time friend and business partner, Florian Solzbacher. Blackrock’s MoveAgain brain-computer interface (BCI) system is a breakthrough medical device that uses brain implants to allow immobile patients to control electronic devices, wheelchairs, or prosthetics with their minds.
The two founders contribute complementary skill sets. Florian provides the scientific knowledge: in addition to being co-founder and chairman of Blackrock, he’s an adjunct professor in biomedical engineering at the University of Utah. And Marcus spent years honing his entrepreneurial skills, participating in 14 venture projects before turning his attention to Blackrock.
Marcus admits that when his old friend first reached out about his idea for Blackrock, he thought Florian was crazy. But after doing his research, Marcus was intrigued — and he arrived at somewhat of a contrarian business strategy.
Together, they took a leap of faith not just with the technology but also in their funding methodology, creating a model different from traditional venture capitalist (VC) financing options.
In this episode of Medsider, Marcus explains why Blackrock’s business model works for medtech companies, how the approach gave the company an “in” with the neuroscience research community, and why medical device companies need to work with — and not against — regulatory bodies like the Food and Drug Administration (FDA).
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