3 Challenges faced by the Belgian Hardware sector
Wouter Foulon, founder of Comate, shed lights on the challenges hindering the progress of Belgian hardware companies in this Trends article.
Why do hardware ventures in Belgium encounter difficulties?
In a recent feature in Trends, Wouter Foulon, founder of Comate, and Katleen Verleysen, CEO of miDiagnostics, shed light on the formidable challenges hindering the progress of Belgian hardware companies.
But what are these 3 main obstacles?
1. Funding Woes: Despite the commendable state of hardware development in Belgium, securing funding remains a significant hurdle. Investors in the region predominantly favor software companies, leaving hardware ventures grappling for financial support.
2. Regulatory Roadblocks: The stringent European regulations, especially the 2021 Medical Device Regulation (MDR), pose a significant obstacle for hardware firms aiming to swiftly penetrate the European market. Many are compelled to prioritize the UK and US markets due to these regulatory complexities.
3. Manufacturing Capacity Dilemma: While Belgium excels in hardware engineering and design, a notable gap exists in production capacity, particularly for complex and high-volume manufacturing. This limitation often forces companies to outsource production to other European locations.
The insights shared by Foulon and Verleysen underscore the need for strategic interventions and collaborative efforts to address these challenges, fostering a more conducive environment for the growth of the hardware industry in Belgium.
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