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Coronis: Creating Virtual Companies

 
• By David Cassak

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.

Because the technology risks of medical device development are so much lower than those of, say, biotech, most venture capital firms can afford to invest as early as possible. And since exits also tend to be smaller in devices, they have to--it’s only by investing early that investors capture the maximum value for their capital. But precisely because of those lower returns, investing too early can be a problem if the technology ultimately doesn’t pan out.

Would-be entrepreneurs therefore often find that VCs who preach the benefits of investing early generally turn a cold shoulder to...

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