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Coronis: Creating Virtual Companies

This article was originally published in Start Up

Executive Summary

Launched by four veterans of the medical device industry, Coronis Medical hopes to be able to nurture precisely the kind of opportunities that even the most early stage-minded of venture investors can't. Through its relationship with Stellartech, a design and development consulting firm, Coronis will be able to provide a wide array of services for the projects it takes on, creating virtual companies through what is, in effect, a kind of virtual incubator.

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Today many universities have a mandate to preferentially create new companies around university technologies, rather than stick with straight licensing deals, particularly when it comes to medical devices. What's also new is that universities are making a concerted effort to attract in companies from beyond their hallowed gates to enhance internal research programs. To meet these goals, they're turning to new kinds of incubators, which are essentially service organizations that connect resources in the hands of multiple constituencies to start-up companies. In so doing, incubators are facilitating the process of company creation for individual entrepreneurs, enhancing university tech transfer, and fulfilling regional economic development goals.

The New Device Incubators

Today many universities have a mandate to preferentially create new companies around university technologies, rather than stick with straight licensing deals, particularly when it comes to medical devices. What's also new is that universities are making a concerted effort to attract in companies from beyond their hallowed gates to enhance internal research programs. To meet these goals, they're turning to new kinds of incubators, which are essentially service organizations that connect resources in the hands of multiple constituencies to start-up companies. In so doing, incubators are facilitating the process of company creation for individual entrepreneurs, enhancing university tech transfer, and fulfilling regional economic development goals.

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