1. Kurtis Keller kurtis@inneroptic.com & keller@cs.unc.edu What to Expect When You're Inventing InnerOptic’s InVision computer-assisted surgical system

2. Licensed technology, not a product 3 patents Looks like open surgery Enables more procedures to be approached via MIS First full 3D surgery suite UNC Licensed 3D Laparoscope Inventions

3. 3 © 2009 InnerOptic Technology, Inc. All Rights Reserved. Simpler Safer Surgery™ Agenda – Focus: People & Product Overview of research vs. commercial system Agenda (this) First steps of invention to company Understanding your limits Finding the right people Product not technology Results - InnerOptic’s InVision system

4. First steps of invention to company Commercially viable, patented idea. Support of your department. Meet and talk with users in the field about your potential product. Take entrepreneurial classes. Have experienced business people provide advice, sign them on. Sign on experienced business attorneys in your field. SBIRs - write a good one or two.

5. 5 © 2009 InnerOptic Technology, Inc. All Rights Reserved. Simpler Safer Surgery™ Understanding your limits Time - it takes all and then some. Early options: Reduce UNC hours Leave of absence If you made a patent, you may be expert in your field, that field probably isn ’ t growing a business... Go to Entrepreneur conferences and talk to various startups. People are very open to tell their pain/exp. If not a people person, find a partner who is.

6. 6 © 2009 InnerOptic Technology, Inc. All Rights Reserved. Simpler Safer Surgery™ Early, core personnel Finding the right people Personality - you will spend Lots of time with them. Complimentary skills, not similar. Quickly address personnel problems and remove those that do not fit. Reward stakeholders with stock, share the risks and rewards.

7. InnerOptic’s Actual Product Provides 3D guidance for needles in ultrasound Enables significant accuracy & speed improvements Stereo monitor, not HMD Augments current methods InVision

8. 8 © 2009 InnerOptic Technology, Inc. All Rights Reserved. Simpler Safer Surgery™ Why we changed core product Cost Time to market – Development time – FDA – Market adoption Subset of the technology that the market wanted and needed now. Revenue stream of disposables

9. Growing the company (InnerOptic) Licensed additional IP from UNC Submitted FDA 510(k) Conducted IRB-approved clinical case (shown left) Filed 8 additional patents Present at multiple medical conferences Medical Advisory board with stars in their field CPT, reimbursement codes for hospital and surgeon Production items of InVision (IVS) system Disposable Hardware

10. Find partners who benefit from your technology. Make a demo so obvious that a child can do it first time Growing the company (marketing)

11. Thank You! Summary: Start with good people Make a product that people want