In emerging technology sectors like medical electronics, Dent said
innovation has so far been stifled by outdated regulations that have
starved medical technology startups of the financing they need to invest
in product development. Dent called the current regulatory environment
“penny wise, pound foolish.”
Spicer agreed that health care
deliver is emerging as a key sector for technology innovation, including
product areas like IT, software and mobility. Driving down the cost of
developing medical devices along with figuring out complex reimbursement
formulas critical to the success of medical products remain unresolved.
"How that is addressed will be fundamental to how [the medical
electronics] industry gets its hands around its cost structure,” said
Spicer, who’s group represents angel investors, venture capitalists and
private equity firms.
The details of U.S. patent reforms also
will be rolled out after this year’s election, and Spicer said
implementation of intellectual property rules is likely to be more
“onerous” for technology startups.
Post-election, Dent said the
U.S. technology sector needs to adopt a sense of urgency. Progress
toward creating a renewed U.S. innovation ecosystem, she argued, must
come in a series of small steps rather than a grand bargain among all
stakeholders. To start, Dent concluded, “We must stop trying to solve
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