From start-up to success: Incubating a telemedical high tech company Stromeyer Hans, Andrew Nat & Bernard Harris (USA) ______________________________________________________________________________ Abstract. Vesalius Ventures, Inc. is a venture capital company dedicated to funding the development of new technologies in telemedicine (medical informatics and technology). Entrepreneurs, universities and inventors of new technologies submit their business plans for review. Once accepted by the board of investors, these companies enter the Vesalius portfolio, receiving investment and management support. One applicant company that recently was considered for investment had developed a device for cardiac monitoring, consisting of a chest strap, wireless connectivity and software for signal processing. The technology allows the identification of deviations from the normal electrocardiogram, triggering, an alarm and alerting caregivers or relatives in order to provide help to the individual or the patient. This Company had to overcome various obstacles and problems before it could be considered for investment. There was no viable business plan and marketing concept. The research and development plan was only generic and did not comprise phased milestones. Thus, the project was placed into the Vesalius incubator and each issue was addressed and solved, using standard project management techniques. This investment project constitutes a typical example in private equity investing. Common failures and shortcomings that often lead to project termination and bankruptcy will be presented and discussed. Measures to ensure success will be highlighted based for this example and put into a set of rules that every entrepreneur should follow in order to ensure project success. Keywords: Venture Capital, private equity, telemedicine, medical informatics and technology, project management, cardiac monitoring, electrocardiogram.
