A Best Practices Example Of A Robust Entrepreneurial Ecosystem

Much has been written about St. Louis’ newest Innovation District, the Downtown North Insight District, and the emergence of St. Louis as a Geospatial Intelligence, FinTech, and Data Center Hub, and the soon-to-open adjoining new $1.75-billion, 100-acre campus for 3,100 employees. However, there has been far less written about the role of Stereotaxis as a global MedTech leader in innovative surgical robotics for minimally invasive endovascular interventions.

Stereotaxis’ mission is the discovery, development and delivery of robotic systems, instruments, and information solutions for the interventional laboratory. Back in 2022, Stereotaxis was one of the early tenants in the Downtown North Insight District—a location for their Global Corporate Headquarters, R&D, Advanced Manufacturing, and International Distribution in its 45,000 square foot mixed-use new home in the 550,000 sq. foot space The Globe Building.

Stereotaxis’ new mixed-use location has been joined by national and international Geospatial leaders General Dynamics, Esri, MAXAR, T-Kartor, Black Cape Systems, Washington University, and the US SCIF outside Washington, DC, along with over 15,000 square feet of leading Data Center providers.

*The Globe Building is a key anchor of the 18-square block Downtown North Insight District*

Mark Meschian of Bloomberg Intelligence notes in his December 14, 2023 interview with Stereotaxis CEO David Fischel, for the Bloomberg “Upwards of Health Care” podcast: “Stereotaxis is developing robotic capabilities in a non-invasive fashion that avoids ablation scars, avoids radiation exposure to the surgeons and offers a procedure with better outcomes for patients and future prospects for the Company.”

Stereotaxis’ robotic systems today, provide unsurpassed patient care with robotic precision and speed and are used to minimally invasive therapy, and enhance the productivity, connectivity, and intelligence in the operating room.

Stereotaxis Chairman and CEO David Fischel joined Stereotaxis as Director and Chairman in 2017. Since then, he has led a rejuvenation of the company including financial stability, growth, and significant innovation in robotic technology. Fischel had served for over ten years as Principal and portfolio manager for medical device investments at DAFNA Capital Management. Prior to joining DAFNA Capital, he was research analyst at SG Cowen, a healthcare venture capital fund. He completed his B.S. magna cum laude in Applied Mathematics with a minor in Accounting at the University of California of Los Angeles (UCLA) and received his MBA from Bar-Ilan University in Tel Aviv. He is a Certified Public Accountant, Chartered Financial Analyst and Chartered Alternative Investment Analyst.

Over 25 years ago, utilizing initial technologies developed by Dr. Matt Howard, Stereotaxis was launched as a 4-person start up at the University of Missouri’s Center for Emerging Technologies (CET) high-tech incubator, growing to 140 employees today.

In 2002, Stereotaxis had been the first tenant of St. Louis’s CORTEX Life Science Innovation District.

*Entrance to the Stereotaxis HQ in The Globe Building*

In February 2022, Stereotaxis moved downtown to 45,000 square feet in The Globe Building—a move making it one of the first such urban mixed-use developments in the nation. The decision reflected the need for additional space and wanting to combine their corporate HQ, R&D, Advanced Manufacturing and International Distribution under one state-of-the-art facility. Also, never had in its St. Louis Public Radio December interview with David Fischel, “Stereotaxis Opens New HQ in Downtown St. Louis, Eyes for Growth,” moving their corporate headquarters to The Globe Building “provides space to expand Advanced Manufacturing, Global Distribution, and R&D and Development—all on a single floor.”

In their publication, “Entrepreneurial Ecosystems Building Playbook 3.0,” the Kauffman Foundation notes, “These dense an entrepreneurial ecosystem is its people and the culture of trust and collaboration that allows them to interact successfully. As a result, the whole is greater than the sum of its parts.”

St. Louis’s entrepreneurial ecosystem has been a key actor in Stereotaxis’ success.

*Above is Stereotaxis’ newest product, the company’s Genesis RMN Robotic Navigation Systems*

Kauffman continues, “Champions and conveners promote entrepreneurs, organize the ecosystem, and build awareness of what’s happening. These entrepreneurs and their companies, bring them together in collaboration, challenge them to grow, and push everyone forward. They are the catalysts, connectors, cheerleaders, co-creators, and champions. Champions and conveners are keystone species. They could be the founder of a Startup Weekend, the reporter covering local entrepreneurs, the lawyer who brings an entrepreneur their first term sheet, your first tour from an investor or government official, or the landlord who offers a spotlight on new businesses. Most importantly, they work relentlessly on behalf of the entrepreneurs and companies while rarely grabbing the spotlight themselves.”

Joined by state and city civic leaders at the opening of their new HQ at The Globe Building in early 2022, David Fischel emphasized, “In the last decade our goal has been to develop next-generation robotic surgical MedTech and our firm has now become ‘the Global Leader in Robotic Electrophysiology’ which has enhanced the treatment of arrhythmias.” He concluded, “today, this Robotic Magnetic Navigation System has set a new bar of automation and precision in interventional procedures and has greatly enhanced procedural precision, reach and stability.”

More than 150,000 patients have been treated with Stereotaxis technologies at over 100 leading hospitals throughout the world.

In 2022, Stereotaxis earned awards as “Innovator of the Year,” citing the firm for precision medical device manufacturing and for “pushing the Boundaries of Technology and Healthcare.” That same year, The Globe Building was named “Development of the Year.”

As Stereotaxis continues to grow — MedTech will join Geospatial Intelligence and FinTech in powering the Downtown North Insight District.