New research from Assistant Professor Sruthi Thatchenkery, which suggests doctor CEO’s hinder innovation in medical start-ups, has been widely reported in the media.
The study, accepted for publication in the Academy of Management Journal and funded by InHealth, looked at 231 US surgical instrument ventures over a 25 year period and found that companies achieved more patents and FDA product approvals when they employed medical professionals in technical or governance (board) roles compared to those who employed doctors as CEOs.
“As inventors, doctors’ professional experience helps transform inventive ideas into products. This information helps develop a product that better fits the customer, often tapping into relevant networks and assisting in positioning the product,” said Professor Thatchenkery.
“Placing the right people in the right roles is key to success. We recommend that start-up companies hire doctors in technology roles early on and appoint them to governance roles as the company becomes more established.”
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