Today's entrepreneur is Eric M. Stone, Chief Executive Officer and co-founder of Velano Vascular, a company that has developed a way to draw blood in the hospital without being invasive. Rather than using a needle, Velano's technology, called PIVO, allows practitioners to use the peripheral IV that most hospital patients already have in their arms to draw blood.
The company recently raised a $10 million round of funding.
A patient advocate since his diagnosis with Crohn’s Disease at the age of fourteen and a serial healthcare entrepreneur, Stone is a National Trustee of the Crohn’s and Colitis Foundation. Prior to Velano, he served as Vice President of Sales and Marketing for Molecular Health, and earlier in his career launched a series of pioneering interventional cardiology devices for Abbott while based in Brussels, Belgium and California.
Stone was a founding member of Model Nʼs (NYSE: MODN) Life Sciences division, where he led marketing and business development for the global revenue management software firm. Stone began his career in Marketing with Trilogy Software, and has since co-founded social sector programs at Harvard and Wharton. He served for a decade on Harvard Universityʼs Alumni Association (HAA) Board of Directors. Stone is an investor in and has been a board member and Advisor to multiple early stage companies.
He received an MBA in Health Care Management from The Wharton School, a Masterʼs from Harvard University, and a BA from the University of Pennsylvania. Stone lives with his wife and two children in San Francisco, California.
I am a(n):
Entrepreneur and patient advocate
Companies I work or worked for:
Abbott Labs, Velano Vascular, Molecular Health, Model N, Trilogy
Achievements (products built, personal awards won):
Fast Company Most Innovative Biotech Companies 2019
Gold Edison Award Recipient 2018
MedTech Breakthrough Award 2018
FierceMedTech Fierce 15 2017
ABBY Award 2017
If you are an entrepreneur, why?
The world needs changing, and change requires passionate, mission-oriented change agents!
My favorite startups:
Calm
Why did you start your current company?
I'm a chronic patient, afraid of needles (trypanophobic), and I don't want my children to experience the same pain I had to experience as a pediatric hospital patient. I met a brilliant inventor, physician and fellow entrepreneur and it was clear at the first discussion that he had developed an innovation that would change the face of medicine. I had to be a part of it!
What's most frustrating and rewarding about entrepreneurship/innovation?
Innovating in healthcare is not for the faint of heart - it is an industry that is slow to change, loathe to innovate, and suspect of "outsiders". At the same time, successfully affecting change is unbelievably rewarding, as we get to see daily the impact of our entrepreneurial endeavors on the very patients, their family members and caregivers who we touch with our pioneering technologies.
What's the No. 1 mistake entrepreneurs make?
Being overly ambitious about time and timelines. It always takes longer (and more money) than you initially expect!
What are the top three lessons you've learned as an entrepreneur?
1) Don't give up in the face of naysayers
2) People are a company's #1 asset (not products)
3) Not all investors, customers, and partners are created equal
Long-term success requires founders to prioritize perseverance, dedication, and consistency
Read more...
Steven Loeb
A startup's success is heavily influenced by its team and culture
Read more...
Mitos Suson
I want to change the world
Read more...
Mitos Suson
Startup/Business
Joined Vator on
Velano is a medical device innovator committed to reducing the pain, risk and inefficiencies of traditional blood collection practices while enhancing the clinical domain of vascular access. The company’s revolutionary FDA-cleared PIVO device expands the use of peripheral IV lines for frequent, high quality blood draws, aiming to deliver painless, compassionate care for hospital inpatients, a safer practice for caregivers, and a more financially responsible alternative for health systems. The company was founded by a physician and a patient committed to revolutionizing the vascular access industry and practice.
Joined Vator on
20-year entrepreneur and social sector change agent with passion for starting and leading growth organizations across healthcare and technology. Advisor, investor and board member to multiple upstarts.