Meet Jon Snyder, founder of Neuros Medical:
When and why did you start your business?
I started Neuros Medical in 2008 to develop novel neurostimulation therapy, based on technology invented at Case Western Reserve University, for patients suffering from chronic pain.
Did you consider yourself an entrepreneur before that?
I always had the entrepreneur spirit, interest, and drive as I was building my business skill set throughout my career.
Where did you find your first employee?
I was introduced to Dr. Zi-Ping Fang through one of our inventors. I hired Zi-Ping to lead our technology and clinical development. He has an outstanding reputation in the industry and has been a very valuable member of our organization.
What state or local resources did you take advantage of and how did they help?
As a CEO in Residence at BioEnterprise, I connected with groups such as JumpStart, NorthCoast Angel Fund, Ohio TechAngel Fund, Queen City Angels, and Glengary LLC, among others, all of which are investors into Neuros Medical. They provided supportive funding during the Great Recession. As a result, we were one of only seven chronic pain companies in the nation that received funding in 2009, a very trying time to raise money.
What's the most difficult thing about running your own business?
Raising funds for an early-stage medical device company is always challenging, especially since most venture capitalists are now looking at later-stage deals.
What's the best thing?
Establishing and driving the vision of our company and growing our team, knowing that our efforts are having a strong impact on patients' lives by substantially reducing their chronic pain.
What has contributed most to your growth?
I spent nearly a decade with STERIS Corporation, cutting my teeth in their early days. It was a fast paced, high growth, energy-filled environment. The relationships and contacts I made during those years helped build a strong foundation for my career.
What companies or founders do you admire and why?
I admire STERIS Corporation and founder Bill Sanford, along with Lloyd Breedlove, former president of their Healthcare Division. They provided me opportunities to work in areas I hadn't worked in previously, which helped me grow substantially. They also took a novel, ground-breaking technology and, through focused determination and pioneering spirit, enthusiastically lead us to execute the company's mission, goals, and objectives.