Ep. 151 Innovation MD: An Interview with Dr. David Liu
Episode description
We talk with Dr. David Liu about the life cycle of innovation projects, developing ideas strategically, and his mentorship work with Creative Destruction Lab.
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SHOW NOTES
In this episode, Dr. David Liu and our host Dr. Bryan Hartley discuss the intersections of medicine, engineering, and business in innovation.
Dr. Liu describes his background in computer science and how it helped him develop a problem-solving mindset. Within the IR space, he believes that innovation can be divided into three categories: disease management, technical refinement of procedures, and transformational technologies. Dr. Liu outlines his projects that fall into these categories, including an app for Y90 dosimetry, gesture based control for the angio suite, and collaboration through virtual reality.
We also discuss how innovation and execution are processes that require diverse perspectives. Dr. Liu summarizes important business concepts such as the various stages of a company’s evolution (start up, small cap, mid cap, and large cap) and two different types of investment (accretive vs. dilutive). Bringing a product to the marketplace involves multiple milestones such as establishment of intellectual property rights, proof of concept, first in human clinical trials, and regulatory approval. Achieving these milestones helps a company “de-risk” itself and become more attractive to investors.
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RESOURCES
NZ Technologies: https://nztech.ca/
Imaging Reality: https://www.imagingreality.com/
Creative Destruction Lab: https://www.creativedestructionlab.com/