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Efficient and effective product development is a crucial step for commercializing new technologies. It sits between defining a minimum viable product and manufacturing, en route to being able to sell a desirable product to eager customers. This presentation is part of a speaker series by the Penn Center for Innovation. Recorded on January 26, 2022, the speakers were from Triple Ring Technologies: Dr. David Shack, VP - Product Development Dr. Roger Tang, Senior VP - Science, Systems, and Engineering This presentation serves as an introduction to product development for entrepreneurs and innovators, with an emphasis on medical devices. Such technologies typically have high product complexity, tight budgets, and must ultimately operate in a regulated environment. We set the stage by establishing initial conditions for successful product development, and then review commonly encountered problems. We compare and contrast several methodologies for product development and how they can be executed to support regulatory requirements, with an emphasis on the customer perspective. Case studies highlighting example product development timelines and outcomes will be included. Lastly, we touch on transfer to manufacturing.