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iotaMotion awarded $1.65 million grant to develop robotic cochlear implant tech

September 14, 2020

iotaMotion, an Iowa City-based robotic surgical technology developer, has received a $1.65 million grant from the National Institutes of Health (NIH).

iotaMotion is using the grant funds to continue developing its real-time tissue trauma sensing technology in the iotaSoft robotic surgical system designed for assistance in cochlear implantation surgery.

The iotaSoft system is a robot-assisted insertion device designed to allow surgeons to advance cochlear implant electrodes with more control and precision, which the company believes will allow for less surgical variability.

In addition to the NIH grant, iotaMotion announced that it received the inaugural Iowa Biosciences Medtech Award. The $20,000 prize recognizes significant progress and investor support over the last year and has been earmarked for supporting regulatory and pre-commercialization efforts.

“These NIH funds will be used to advance technology development to support real-time feedback and monitoring during cochlear implant electrode insertion,” iotaMotion co-founder & president Chris Kaufmann said in a release. “We appreciate the support of the NIH as well as the local investor community as we make meaningful progress towards commercialization of our first suite of solutions.”

Previous coverage

iotaMotion raises $2.1 million to further development of cochlear implant system -Nov. 5, 2018

Tags: iotaMotion Iowa Startup NIH Grant

iotaMotion awarded $1.65 million grant to develop robotic cochlear implant tech | Clay & Milk

A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.

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