In an exclusive MassDevice.com editorial, Massachusetts Senate hopeful Elizabeth Warren (D) calls for a more transparent FDA, the repeal of the medical device tax and a renewed commitment to education and research to support the medical device industry.
by Elizabeth Warren
When it comes to turning good ideas into innovative businesses, Massachusetts has always set the standard. From Alexander Graham Bell's telephone in 1876 to the microwave in 1945 to iWalk's bionic ankle just last year, we've proven that we're the most innovative place in the world.
Innovation is a vital part of who we are. Here in the Commonwealth, the medical device and diagnostics industry employs around 24,000 people and is responsible for 13 percent of all state exports. I am proud that Massachusetts companies are creating the new treatments, diagnostics, and cures that lead to better and longer lives for millions of patients. Innovation is important, and we should do everything that we can to create a stronger climate for it.
Innovation starts with a creative spark—but that spark turns into a great invention only if the right conditions are in place. Steady financing and a smart, highly skilled team are critical. The government also plays a critical role in speeding – or slowing – the pace of innovation. Three changes in government policy are essential: a more efficient regulatory system at the FDA, repeal of the medical device tax, and an increased national commitment to research and education.