Thursday, April 22, 2010

Today's business model

Just Doing It
NY Times Op-Ed columnist

EndoStim is a little start-up I was introduced to on a recent visit to St. Louis.  The company is developing a proprietary implantable medical device to treat acid reflux.  I have no idea if the product will succeed in the marketplace.  It's still in testing.  What really interests me about EndoStim is how the company was formed and is being run today.  It is the epitome of the new kind of start-ups we need to propel our economy: a mix of new immigrants, using old money to innovate in a flat world.
Here's the short version: EndoStim was inspired by Cuban and Indian immigrants to America and funded by St. Louis venture capitalists.  Its prototype is being manufactured in Uruguay, with the help of Israeli engineers and constant feedback from doctors in India and Chile.  Oh, and the C.E.O. is a South African, who was educated at the Sorbonne, but lives in Missouri and
California, and his head office is basically a BlackBerry.

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