Medical Device Opportunity Fund
MedQ Opportunity Corporation (a 501(c)3) was formed to evaluate medical device ideas initially to determine if the idea has potential and if so, to further evaluate the medical device for development, manufacturing, and sales potential. Those ideas may come from internal or external sources.
The company will not request funding for the initial evaluation and for the further evaluation if undertaken. However, if expenses are generated during the initial evaluation and with the approval of the idea generator, the company may ask for reimbursement of reasonable expense.
Reimbursable expenses will be documented and agreed to in advance.
Purposes of the corporation include:
- Purpose one: Review Potential Medical Device Product Ideas
- Purpose two: Generate Medical Device Product Ideas;
- Purpose three: Evaluate those ideas for development;
- Purpose four: Provide a detailed report/analysis of the product production possibility
This corporation is organized exclusively as a private operating foundation intended for the purposes described above and including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code. If those distributions support the organization of the company.
The idea generation may include the following items as needed:
- Regulatory Issues
- IP/Patent Issues
- Estimated cost to develop
- Market Potential
Ideas may be generated by the following:
- Individuals
- Clinical Expertise
- Research
- Technology history to new markets
The report generated will include the areas mentioned above.