Justin Barad, M.D., Founder and CEO, Osso VR12.07.17
I’ve been writing about medical technology for over a decade. One of the most exciting events to cover has always been MedTech Innovator, one of the world’s leading medical technology accelerator competitions. But I never would have guessed this year I would be participating in the event itself! Now that we have made it through to the other side, I am more convinced than ever that MedTech Innovator and programs like it are critical for the continued success and vibrancy of the medical technology innovation ecosystem.
So how did I end up as a part of MedTech Innovator’s elite accelerator class of 20 companies? The journey really started all the way back in high school, where I dreamt of being a professional video game developer. Illness in my family gave me a thought, “What if I could use software and technology to help solve the most challenging medical problems?” To better understand these problems, I chose to become a physician, and am now a practicing pediatric orthopedic surgeon.
During my training, I witnessed a growing problem now dubbed the “training gap.” This is where the number and complexity of the procedures surgeons need to learn exceeds the time we have to learn them. This ultimately results in surgeons “practicing” on patients, affecting their outcomes in a negative way. Typically, it requires 50 to 100 patients before a surgeon will reach proficiency for any given procedure, and complication rates can be 300 percent higher than normal while a surgeon is “learning.”
In the meantime, virtual reality experienced a renaissance in a major way. I immediately saw it as a highly effective way to solve the training gap, which I considered one of the most pressing clinical problems of our time. Suddenly, this seemingly random piece of trivia from my past—my game development experience—became highly relevant.
Joining forces with professional game developer, Matt Newport, we founded Osso VR. Osso VR is a clinically validated surgical training platform that improves patient outcomes, increases the adoption of newer procedures and medical devices, and democratizes access to modern surgical techniques.
Osso VR grew very quickly, and when I heard MedTech Innovator was calling for companies to apply for their next class, we jumped at the opportunity. Out of hundreds of companies, we were selected as a top 20 company and gained access to the accelerator program and competition. What followed was three months of mentorship, friendship, and acceleration of our company from light to ludicrous speed. During the program, we closed a major round of fundraising, tripled the size of our team, completed a clinical validation study with exceptionally positive results, signed several major customers, and partnered with some of the leading healthcare institutions in the country.
The situation is serious. Today, there are a third as many medical device startups as there were several decades ago. Leaders at the major device manufacturers have openly acknowledged that the bulk of innovation now occurs outside their walls. The leaders and technologies of programs like MedTech Innovator are clearly what are going to push the industry forward and ensure its continued success.
With the resources we were able to share with each other and the guidance we received, we now have the tools to move ourselves and the community forward. Since completing the program, I’m determined to do whatever we can to continue to support this incredible community of leaders, innovators, and dreamers as we all set out on our common mission to help patients and providers around the world.
Interested in hearing more about Dr. Barad's journey from surgeon to inventor? Check out the ODT feature, "Physician, Reinvent Thyself: A Look at Surgeon Inventors" for more on his experience.
So how did I end up as a part of MedTech Innovator’s elite accelerator class of 20 companies? The journey really started all the way back in high school, where I dreamt of being a professional video game developer. Illness in my family gave me a thought, “What if I could use software and technology to help solve the most challenging medical problems?” To better understand these problems, I chose to become a physician, and am now a practicing pediatric orthopedic surgeon.
During my training, I witnessed a growing problem now dubbed the “training gap.” This is where the number and complexity of the procedures surgeons need to learn exceeds the time we have to learn them. This ultimately results in surgeons “practicing” on patients, affecting their outcomes in a negative way. Typically, it requires 50 to 100 patients before a surgeon will reach proficiency for any given procedure, and complication rates can be 300 percent higher than normal while a surgeon is “learning.”
In the meantime, virtual reality experienced a renaissance in a major way. I immediately saw it as a highly effective way to solve the training gap, which I considered one of the most pressing clinical problems of our time. Suddenly, this seemingly random piece of trivia from my past—my game development experience—became highly relevant.
Joining forces with professional game developer, Matt Newport, we founded Osso VR. Osso VR is a clinically validated surgical training platform that improves patient outcomes, increases the adoption of newer procedures and medical devices, and democratizes access to modern surgical techniques.
Osso VR grew very quickly, and when I heard MedTech Innovator was calling for companies to apply for their next class, we jumped at the opportunity. Out of hundreds of companies, we were selected as a top 20 company and gained access to the accelerator program and competition. What followed was three months of mentorship, friendship, and acceleration of our company from light to ludicrous speed. During the program, we closed a major round of fundraising, tripled the size of our team, completed a clinical validation study with exceptionally positive results, signed several major customers, and partnered with some of the leading healthcare institutions in the country.
The situation is serious. Today, there are a third as many medical device startups as there were several decades ago. Leaders at the major device manufacturers have openly acknowledged that the bulk of innovation now occurs outside their walls. The leaders and technologies of programs like MedTech Innovator are clearly what are going to push the industry forward and ensure its continued success.
With the resources we were able to share with each other and the guidance we received, we now have the tools to move ourselves and the community forward. Since completing the program, I’m determined to do whatever we can to continue to support this incredible community of leaders, innovators, and dreamers as we all set out on our common mission to help patients and providers around the world.
Interested in hearing more about Dr. Barad's journey from surgeon to inventor? Check out the ODT feature, "Physician, Reinvent Thyself: A Look at Surgeon Inventors" for more on his experience.