The Journey from Idea to Success with Mike Morena of AdhereTech

In this first episode of the Predictable Designs Podcast I speak with Michael Morena, co-founder of AdhereTech which is a startup that manufacturers and sells a medication adherence hardware product to large pharmaceutical companies. The AdhereTech smart pill bottle device is currently used by tens of thousands of patients.

In my interview with Mike he shares many of the lessons he learned and challenges he faced developing the product, pitching it to large pharmaceutical companies, and finding a world-class manufacturer. Fortunately, Mike had two other co-founders which helped to split up the various tasks, so we discuss the benefits of having a founder team with complimentary skills.

The business model that AdhereTech uses is really quite beautiful. They don’t just sell a one-time hardware product, instead they collect a recurring revenue for the back-end services that are included with their product. Mike shares how this recurring revenue was really helpful in their fundraising efforts.

This an interview you do not want to miss!

See the show notes for this episode which includes the full transcript available for download.

The Predictable Designs Podcast is sponsored by the Hardware Academy.