It would work in the direct response/infomercial market. I can't imagine that products like the Snuggie or ShamWow took a lot to develop, and they've brought in millions. I guess the YC in this field would be Telebrands, run by AJ Khubani.

Biotech's problem is the length and cost associated with FDA regulation. Anytime there are political barriers in place to prevent you from selling directly to the consumer (whether it is justified or not), it's not something you can do without heavy financial support.

Also quickly. Being able to have something up and running and building momentum in 3 months would be as important as cheaply.