Trauma Surgery: The Journey of EndoShunt through the NSF I-Corps Program
In the fast-evolving landscape of medical technology, EndoShunt stands out as a beacon of innovation. This startup, driven by the relentless pursuit of excellence and the need to address critical gaps in trauma surgery, made significant strides through its participation in the National I-Corps program. Michael Finn-Henry, co-founder of EndoShunt, shares his journey, the challenges they faced, and the invaluable insights gained through the program that ultimately led them to pivot in crucial ways.
Michael, EndoShunt Team Member
EndoShunt's story began with a proactive approach to identifying real-world medical challenges. "Our journey started by reaching out to over 300 surgeons at Vanderbilt, asking them what problems they encountered," Michael explains. This initial outreach provided a wealth of responses, highlighting the pressing need for innovative solutions in surgical specialties like trauma surgery.
The Role of Customer Discovery and Mentorship
From its inception, EndoShunt embraced the ethos of customer discovery, continually refining its process. "Customer discovery is a continuing process for us," Michael emphasizes. Through the I-Corps program, the team learned to ask specific questions and gather actionable data, which honed their understanding of the needs of trauma surgeons, hospital administrators, and insurance companies. This rigorous approach to customer discovery was pivotal in shaping their product development strategy.
Mentorship played a crucial role in EndoShunt's evolution. "Shawn Glinter and Stryker Warren were our main mentors, providing invaluable business insights and connections in the medical space," Michael notes. The mentorship from industry veterans helped the team navigate complex aspects of the medical ecosystem, from understanding hospital procurement processes to refining their business model.
Transformative Insights and Technological Advancements
The I-Corps program imparted several critical insights that shaped EndoShunt's trajectory. "We learned about the unique challenges trauma surgeons face, particularly in managing blood loss," Michael shares. This understanding drove the development of a device that allows for targeted control of blood flow within the abdomen, addressing a critical need in trauma care.
Michael highlights two major innovations resulting from their customer discovery efforts. "We made our device length-adjustable inside the body, allowing for precise control of blood flow," he explains. This feature ensures that blood supply can be selectively managed, providing significant benefits in trauma scenarios.
The Decision to Pursue a Startup Path
Initially, EndoShunt considered a licensing approach for their technology. However, the insights gained through the I-Corps program and discussions with industry experts shifted their strategy. "We realized that licensing could result in our technology being shelved due to its complexity," Michael explains. Instead, the team decided to de-risk the device through a startup model, allowing them to retain control and ensure the technology reached its full potential in saving lives.
Personal Growth and Team Development
The I-Corps program not only advanced EndoShunt's technology but also fostered personal and professional growth for its team members. "The program helped us understand what people care about and how to make them care about our solution," Michael reflects. This skill, crucial for any entrepreneur, was honed through countless interviews and interactions with stakeholders.
EndoShunt's journey also underscored the importance of teamwork. "We really came together as a team through the program," Michael shares. The shared experiences, challenges, and successes strengthened their resolve and commitment to their mission.
Looking Ahead
EndoShunt's participation in the I-Corps program has set the stage for continued innovation and impact in trauma surgery. As they move forward, the lessons learned and connections made will guide their efforts to bring life-saving technology to market.
For those considering the I-Corps program, Michael's advice is clear: "You get out what you put into it. The more effort you invest, the more you learn and grow." EndoShunt's journey is a testament to the transformative power of the I-Corps program, and the innovation ecosystem stirring in the Mid-South. EndoShunt’s experience in the program demonstrates how dedication and a customer-focused approach can drive meaningful advancements in medical technology.
For Media Inquiries: Lauren Carnahan, Communications, Mid-South Hub: [lauren.carnahan@vanderbilt.edu]
For inquiries about Regional and National programming:alexa.e.papanikolaou@vanderbilt.edu; mark.a.hilton@vanderbilt.edu