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The Innovation Factory

The co-founder of Novoste Corp., Tom Weldon, is launching a proprietary incubator called The Innovation Factory, that operates on a model different from traditional incubators.

In the early 1990s, an enterprising young product developer set out to create a company that would do nothing but develop products—no marketing, no sales, no real value creation beyond bringing product ideas to the point where they could be commercialized by other companies.

But somewhere along the way that company, Novoste Corp. , got off-track—it became successful on very different terms. Novoste developed one of the first commercially viable approaches to radiation...

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