After attending Startup Weekend in March, Priya Bhutani received enough positive feedback about her startup concept that she decided to go for it.
RegDesk, which eases the overseas compliance process for new medical devices and pharmaceutical supplies, was launched in beta soon after.
Bhutani, a Bear resident by way of Chicago, wanted to step her business into high gear. So she applied and was accepted into the DreamIt Venture’s health accelerator program this fall, which recently wrapped up.
Here’s what has changed for RegDesk since participating in the program:
- RegDesk has acquired more users and clients. When the platform launched earlier this year, RegDesk had four clients and about 50 users. Today, Bhutani said, her company is providing services in 140 countries. RegDesk has secured clients in Latin America and China, and is currently working with consultants in Saudi Arabia.
- RegDesk spent more time doing customer discovery. Bhutani says the company continues to address the two biggest needs of its clients: delayed market entry and finding a consultant in your country. “We made it possible to find and hire a local expert in various countries who understands the local regulations and knows the language,” she said.
- RegDesk eliminated antiquated ways of finding a consultant. Traditional methods of finding a consultant through personal networks take time and money, Bhutani said. “You waste months, spending thousands of dollars,” she said. “It’s the black box analogy: clients are putting money and time into a black box and nothing comes out.” She added, “Our process is more cost effective. We bring speed and certainty.”
- RegDesk is working out of an office in Philadelphia. The company has stayed on in the building where the DreamIt program took place. It is also raising more seed funding and looking to gain more clients. “We are just going with our mission. We want to be the go-to platform for device and pharmaceutical companies,” Bhutani said. “We’re here to disrupt and we truly are disrupting the traditional healthcare model.”