Diversity is a hallmark of Memphis’ population. And the city is known for its entrepreneurial nature. The inaugural class of Memphis Inno's Startups to Watch reflects that racial, gender, and business-focused diversity.
Since its fall 2021 launch, Memphis Inno — MBJ’s brand geared toward startups, technology, and innovation — has expanded its coverage of the local entrepreneurial ecosystem. The section highlights startups and founders who are breaking technological ground in their respective industries, with new ventures and innovative product offerings. Represented among Memphis Inno’s Startups to Watch in 2022 are entities with concerns as varied as medical technology, music and digital content, transportation, finance, and retail.
Some are early stage companies figuring out how to get off the ground, and others already have significant sources of funding and are looking to scale up. All are uniquely Memphis ventures.
Hera Health Solutions
Hera Health Solutions’ flagship product, Eucontra, is under development, but it received a significant spotlight in early 2021. The pharmaceutical device startup’s product was selected as a global emerging leader in the innovative contraceptive space, with judges from the Gates Foundation and the Clinton Health Access Initiative. And Hera cofounder and CEO Idicula Mathew has raised more than $1.25 million to commercialize the biodegradable contraceptive implant.
Hera Health’s proprietary bioerodible drug delivery implants have the potential to be applied to other treatments related to breast cancer, mental health issues, and hormonal therapies. Implants that might require removal after delivering medication could be replaced by a device that erodes away while emitting medication for extended periods of time.
“Billions of dollars are invested into the discovery of new therapeutics each year,” Mathew said. “However, the targeted-delivery and controlled-release mechanism of many medications are often inapt, ineffective, or user-unfriendly.”
Such a device could reduce costs — implant removal can be expensive and cause scarring — as well as provide drug delivery in areas with limited health care access.
And, as the pandemic has shown, a lack of access to health care is a serious global issue.
“With more than 1.7 billion people in the world who need to take a prescription medication daily, there are obvious issues surrounding efficiency, effectiveness, and user-compliance,” Mathew said. “We are excited to be working to push to the limit the number of necessary ‘touch points’ between the clinician and the end users of medications.”
