Application Due: June 21
Air Surgical, Inc. is an early-stage MedTech/Medical Device startup
company. The company’s mission is to enable a future of minimally invasive care.
Air Surgical’s robots will help physicians more accurately insert needles to treat
several medical conditions, including kidney, liver, and bone cancer.
Currently, doctors perform these procedures by hand, relying on their own
mental map for guidance. Our product is a lightweight and slender robotic arm
that fits inside a CT scanner. Under physician supervision, the robot positions
the needle and holds it steady as they insert. The system requires minimal
training, has a simple setup procedure, and helps the physician consistently
hit the target on the first try in even the most challenging procedures.
Today, the standard of care is manual,
unguided insertion. Physicians have access to several assistive technologies,
including augmented reality visual overlays, real-time GPS-style tracking
systems, and robotic positioning systems. However, these existing solutions
have received limited adoption due to their difficult setup, insufficient
accuracy, and unreliability. This project is led by the co-founders of Air
Surgical Inc., Dimitri Schreiber (UCSD PhD ’22) and Daniel Henderson (UCSD MBA
’21) who have expertise in robotics and medical devices, and are supported by
world-class clinical and entrepreneurial advisors.
Application
Team applications, with members from varying disciplines, are favored.
However, solo applicants are welcome – if accepted, solo applicants will be
assigned to a team.
Credit: Rady second-year graduate students may
pursue this project as a 2 Unit Independent Study—MGT 499 for Summer 2023. A
second-year Rady graduate student may apply with Team members outside their
cohort, but those members may not receive credit. Team members in Schools
outside of Rady may appeal to their respective departments for Independent
Study credit per their department policies.
Non-Credit: Any Team is invited to apply and
may pursue this project without credit.
ScopeMARKET: Provide a
quantitative market analysis on the image-guided surgery
space. Include details on the submarkets in each of the two primary
markets: cancer care and spinal surgery. Provide market sizing analysis for
each segment and submarket. Provide a top-down market sizing for the combined
market (TAM, SAM, SOM). Provide a bottom-up marketing sizing analysis by
evaluating the market opportunity with one provider and extrapolating up to the
region, state, etc.
Approximately one
market subsegment (kidney, liver, osteoplasty and fixation, neural/spinal) each week, to be presented at end of week. This presentation
will include:
· Bottom-up and
top-down sizing. This should take into account differences in insurance CPT
codes and should be subject to relevant constraints, such as number of IR’s,
number of hospitals, etc.
· Market
distribution: Is the landscape spread out or concentrated? Do 10% of hospitals
do 90% of procedures? Who are the highest volume providers?
· Competitive
landscape: What competitors and substitutes (e.g. alternative treatments) are
already in the space? What are their relative strengths? Who might enter the
market soon?
· Any other
relevant considerations (e.g. how friendly is this subsegment to the idea of
robotic surgery?)
· SWOT analysis
SYNTHESIS. Which
market, if any, is most promising? Which, if any, should we enter, and why?
This should take into account the information gathered and shared in the
previous four weeks but may also build on it. Team will present their findings,
as seen in Deliverables section.
Deliverables
The Venture Fellow
Team will provide a 6-8-page report and a 5-7
slide PowerPoint presentation to the Center and Air Surgical founders,
including its findings, sources, recommendations, and other elements outlined
under Scope. The report will also include a discussion of challenges the team
faced in securing its results, reflections on the Venture Fellow experience,
and any recommendations the team may have regarding the Venture Fellows
process..
Time
Frame
The Project requires approximately 5-7 hours per week for 8-10 weeks, including
a weekly Zoom meeting with the Founders and Project Mentor. In-person meetings
may also be required.
Expectations
The Fellows will work diligently and
professionally with the Institute’s Executive Director, the Founders, and
Mentor. The Fellow(s) will meet for ~90 minutes for a kick-off meeting with the
leadership team and others relevant to the project.
The Fellows are expected to self-learn
skills, techniques, and research methods required to provide meaningful
insights to the Founders.
Each Fellow is expected to contribute
substantively to the Project. The Executive Director will seek input from each
member of the Fellows Team as to their own contribution as well as their
perspectives on the contributions of other Team members.
The Fellows are expected to work
independently and meet with the Founders and Mentor for approximately 60-75
minutes once a week (via zoom) for the project duration to report on progress
and discuss any questions or issues. The Team may also be required to meet and
report to the Center’s Executive Director or others on a more regular basis.
Toward the project's conclusion, the
Venture Fellow(s) will meet with the Founders, the Mentor, and the Center’s
Executive Director for a 90-minute discussion of the team’s findings. The
entire team, including the Founder and Mentor, will be available for a photo.
NOTE: Your team may be joined by a student from another department
within Rady or from another area of campus.
*𝘏𝘪𝘴𝘵𝘰𝘳𝘪𝘤𝘢𝘭𝘭𝘺 𝘵𝘩𝘦 𝘜𝘯𝘪𝘷𝘦𝘳𝘴𝘪𝘵𝘺 𝘰𝘧 𝘊𝘢𝘭𝘪𝘧𝘰𝘳𝘯𝘪𝘢 𝘩𝘢𝘴 𝘤𝘭𝘢𝘴𝘴𝘪𝘧𝘪𝘦𝘥 𝘢𝘴 "𝘶𝘯𝘥𝘦𝘳𝘴𝘦𝘳𝘷𝘦𝘥" 𝘴𝘵𝘶𝘥𝘦𝘯𝘵𝘴 𝘧𝘳𝘰𝘮 𝘨𝘳𝘰𝘶𝘱𝘴 𝘵𝘩𝘢𝘵 𝘤𝘰𝘭𝘭𝘦𝘤𝘵𝘪𝘷𝘦𝘭𝘺 𝘢𝘤𝘩𝘪𝘦𝘷𝘦𝘥 𝘦𝘭𝘪𝘨𝘪𝘣𝘪𝘭𝘪𝘵𝘺 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘜𝘯𝘪𝘷𝘦𝘳𝘴𝘪𝘵𝘺 𝘢𝘵 𝘢 𝘳𝘢𝘵𝘦 𝘣𝘦𝘭𝘰𝘸 𝘵𝘩𝘦 𝘵𝘰𝘱 12.5 𝘱𝘦𝘳𝘤𝘦𝘯𝘵 (𝘰𝘯𝘦-𝘦𝘪𝘨𝘩𝘵𝘩) 𝘰𝘧 𝘵𝘩𝘦 𝘩𝘪𝘨𝘩 𝘴𝘤𝘩𝘰𝘰𝘭 𝘨𝘳𝘢𝘥𝘶𝘢𝘵𝘪𝘯𝘨 𝘤𝘭𝘢𝘴𝘴 𝘪𝘯 𝘊𝘢𝘭𝘪𝘧𝘰𝘳𝘯𝘪𝘢, 𝘪𝘯𝘤𝘭𝘶𝘥𝘪𝘯𝘨 𝘈𝘧𝘳𝘪𝘤𝘢𝘯 𝘈𝘮𝘦𝘳𝘪𝘤𝘢𝘯𝘴, 𝘈𝘮𝘦𝘳𝘪𝘤𝘢𝘯 𝘐𝘯𝘥𝘪𝘢𝘯𝘴, 𝘢𝘯𝘥 𝘊𝘩𝘪𝘤𝘢𝘯𝘰/𝘓𝘢𝘵𝘪𝘯𝘰𝘴 (𝘜𝘊𝘖𝘗: 𝘚𝘵𝘶𝘥𝘦𝘯𝘵 𝘈𝘤𝘢𝘥𝘦𝘮𝘪𝘤 𝘚𝘦𝘳𝘷𝘪𝘤𝘦𝘴, 2003).