Career Story: MDeducation

November 02, 2017

The founding of a new company by 2 MBA graduates

What is the idea behind MDeducation? What is unique/special about it compared to other competitors in the market? MD Education is a bespoke medical education agency that provides world-class digital and print education for patients and healthcare professionals from leading medical influencers at a local and global level. There is a clear unmet need for education in the CEE region and we aim to be the go-to point for pharma companies looking for independent and accredited education for their customers and end-users. What is unique? Our focus is on the CEE region while utilizing our global network to provide innovative solutions for all markets in the CEE area. Who is your target group? What kind of company should approach you? Pharmaceutical companies principally but also medical societies and private hospitals. Essentially, any organization that needs education for healthcare professionals and patients. What are the benefits for your customer? With a truly international network of leading medical experts, medical institutions and providers, we are confident that our products are unique, customized to the local language and sensitive to local regulations; they provide real value for pharma and an impact on patients living with their condition. For example, the outcomes for our recent respiratory education by an independent study demonstrated that our education improved patients’ handling of inhalation therapy from 4% to 85%. This is the kind of impact that shows we are moving in the right direction. Ryan, you are both MBA students of the WU Executive Academy. How did the program help you in mastering today’s challenges of a newly set up company in a foreign market? The program provided me with confidence. Applying the theory learned in class in a practical environment was encouraging as the risk was minimized. The atmosphere in the Professional MBA Entrepreneurship & Innovation class was, in particular, very informal; lecturers were always encouraging new ideas and showing support to anyone looking to launch a new venture or initiative. Also, just knowing that you can access the advice and insights from highly experienced entrepreneurs was inspiring and in turn, to reiterate, instilled confidence in mastering the challenges one faces in launching a new company. Why did you decide to set up your own company together with an MBA colleague? An MBA illustrates a certain academic rigor and simultaneously a practical ability to manage work, travel and studying at the same time. Our skills set and experiences overlapped in some respects and were diametrically opposed in others. More importantly, we share the same values and assumptions, have a strong work ethic and know when it’s time to work and when it’s time to have fun. The need to have a sense of humor with your business partner while enduring long work hours, and all of the usual suspects of setting up a new business: risk, stress, travel, and failure, is not to be understated. Would you recommend an MBA program of the WU Executive Academy? Yes and no. It depends what you are looking for. If you think doing an MBA will provide you with the ‘golden ticket’ to become an entrepreneur, then forget it. It won’t. If on the other hand, you are either looking for a confidence booster from some of the top minds in the business field, if you have a kernel of curiosity to see how businesses professionals operate at a high level or if you want to grow your professional international network, then yes, I would wholeheartedly recommend an MBA. All of the facilities at the WU are world class, the faculty is excellent and the mix of people is truly eclectic and adds another dimension to the atmosphere and the learning.