EndoArt SA: Creating and funding a medical technology start-up (A)
The A-case in this two-part series presents EndoArt SA, a small venture, which develops and commercializes medical devices for the telemetric control of the flow of bodily fluids. Located in the Scientific Park Ecublens in close proximity to the Swiss Federal Institute of Technology in Lausanne, EndoArt had begun life in 1998. The case tells of the challenges and setbacks in choosing, managing and maintaining EndoArt’s technological approach to-date. It leaves the venture’s evolution at a point where the small venture is running low in funding and has yet to launch its main product on the market, which requires the passing of time and resource consuming approval procedures. How should the venture proceed toward success? Several options are to pursue–trade sale, development partnership or VC-backed funding for further progressing on its own. However, ample uncertainty remains…
• The case provides a vehicle for reviewing pitfalls in the venture’s development and discussing how, if at all, to prevent them
• It points at the concept of uncertainty and could provoke discussion about chances and strategies of a small venture in a market, dominated by big and affluent industry players
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