Annika Lundström is leading the development of a diagnostics tool for mental health

Designing Successful Startups

Summary

Annika Lundström, the founder of Reminded, a medical technology startup, discusses her journey and the development of a diagnostics tool for mental health. She talks about her experience participating in a Finnish entrepreneurship program in San Francisco and the challenges and opportunities she encountered. Annika explains the focus of her startup on non-invasive medical devices that detect hormones and biomarkers related to mental health issues. She also discusses the process of FDA approval and her plans for expanding into different markets. Throughout the conversation, Annika emphasizes the importance of perseverance and finding a supportive community of fellow founders.

Takeaways

• Annika Lundström participated in a Finnish entrepreneurship program in San Francisco, which provided her with valuable opportunities and partnerships.
• Reminded is developing a non-invasive medical device that detects hormones and biomarkers related to mental health issues.
• FDA approval is required for Reminded's device, and the process can be expensive and time-consuming.
• Annika emphasizes the importance of perseverance and having a supportive community of fellow founders.
• Reminded plans to start in the US market and then expand to other geographies, such as Japan and China.

Sound Bites

"I'm currently running a medical technology startup named Reminded and why I was spending this past spring in San Francisco was due to me being selected to this kind of Finnish initiative called SILTA."

"What we're currently developing is a non-invasive medical device detecting various hormones and biomarkers that have been clinically proven to have a strong correlation with mental health related issues."

"We recently incorporated Reminded Inc as a Delaware C Corp now here in the US and that will be the parent company of our whole company basically and remaining reminded OE the Finnish entity as a subsidiary.”

Links

Annika’s Reminded startup: https://reminded.fi/

Please leave us a review: https://podchaser.com/AdventuresOnTheCanDo

Think Like a Startup Founder (book): https://www.manning.com/books/think-like-a-startup-founder

Jothy’s website: https://jothyrosenberg.com

The Who Says I Can’t Foundation: https://whosaysicant.org

Jothy’s TEDx talk on disabilities: https://www.youtube.com/watch?v=PNtOawXAx5A

Chapters

00:00 Introduction and Background

02:29 Participating in the Finnish Entrepreneurship Program

09:35 Incorporating Reminded Inc and Expanding to the US

14:22 Navigating the Challenges and Opportunities in the US

21:00 Timeline and Market Entry Strategy

26:43 The Importance of Mental Health Assessment and Awareness