Subject category:
Entrepreneurship
Published by:
Stanford Business School
Version: 8 September 2006
Length: 25 pages
Data source: Field research
Abstract
EndoNav developed an innovative medical device to make colonoscopy procedures easier and faster to perform and less painful to receive. Despite of excellent technology, Internet protocol (IP) protection, a reasonably large market, and relatively low regulatory risk, the founder (Jaime Vargas) and his business partner (Kenneth Kelley, GSB MBA, 1987) are unable to secure venture funding. The company eventually decides that it must adapt its product and business plan so that it can be funded on a smaller scale by angel investors.
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Abstract
EndoNav developed an innovative medical device to make colonoscopy procedures easier and faster to perform and less painful to receive. Despite of excellent technology, Internet protocol (IP) protection, a reasonably large market, and relatively low regulatory risk, the founder (Jaime Vargas) and his business partner (Kenneth Kelley, GSB MBA, 1987) are unable to secure venture funding. The company eventually decides that it must adapt its product and business plan so that it can be funded on a smaller scale by angel investors.
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