The Iowa Economic Development Authority (IEDA) has approved innovation funding for two Iowa startups located in Coralville and Des Moines.
Coralville-based CartilaGen produces an intra-articular injection of small-molecule drug which effectively prevents post-traumatic osteoarthritis (PTOA). This is a novel accomplishment that has yet to be demonstrated by any therapeutic. The technology has demonstrated strong preclinical results and is now advanced to the stage of human clinical testing.
The company was awarded a $125,000 Demonstration Fund award for product refinement, market planning, market entry activities and key personnel.
Hummingbirds, based in Des Moines, is a marketplace that helps brands find and work with hyper-local content creators and influencers. Customers can create a campaign inside of the software and their content creators (called “hummingbirds”) express interest in the campaign. Customers select interested hummingbirds and pay a broker fee to work with them inside the software.
The company was awarded a $100,000 Demonstration Fund award for market planning, market entry activities, marketing and advertising