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.
Memphis Inno's Startups to Watch highlights startups and founders who are breaking technological ground in their respective industries, with new ventures and innovative product offerings. Memphis Inno’s Startups to Watch for 2023 leaned into strengths of the local economy, with ventures selected from the medical device, logistics, and restaurant industries.
Startups to Watch features early stage companies figuring out how to get off the ground, and others that already have significant sources of funding and are looking to scale up. All are uniquely Memphis ventures.
MiCare Path
When MBJ first spoke to the leaders of MiCare Path in May 2021, the med tech startup had just a few employees and several pilot customers.
It was, as CEO Scott Laster said, somewhat of an “infant” in the business world. But the startup has grown quickly, and when MBJ spoke to the MiCare team recently, it had reached the stage of a “young adult.” MiCare now has around 20 employees and partner clinics that have locations in over 30 states.
“It's gone from an idea to an institution in many ways,” Laster said.
But what exactly is this idea that’s become so concrete?
MiCare offers a digital health platform designed to give physicians and other care practitioners real-time feedback on patients. It has over 17 different types of high-quality medical devices with cellular or Bluetooth capabilities. These are connected to its platform and given to patients.
Take, for example, someone who’s struggles with high blood pressure. They can be given a MiCare cuff, and whenever they measure their blood pressure, the physician can monitor it on the company’s platform in real-time. This way, they can quickly see if the treatment prescribed to the patient has been working. And if not, they can adjust it immediately.
A primary goal is to make the care process more comprehensive and efficient, while also strengthening the communication and connection between patients and their care teams between office visits — which can last a long time. The platform has the potential to catch and correct issues before they become serious problems.
“You can't just build a car in a clinic for 10 minutes then send it off on its way with no indicator lights, and say, ‘Good luck.’ And then wait for it to show up six months later and go, ‘Your tires are blown and your engine is busted. Why didn't you tell me?’” Laster said.
Initially, MiCare focused on orthopedics, a fitting choice for a startup founded by veterans of Smith & Nephew’s orthopedic operations. But Laster and co. ultimately realized that their platform could address a wide variety of specialties, and they’ve adjusted to work with many types of clients.
“We found out that with very little energy, we could pivot and sort of address their needs,” said chief commercial officer Brian Childress. “What we've realized is the scaffolding that we built, this platform, is really agnostic.”
Or, as Laster put it: “It’s like some guy made a ball bearing … that worked in all cars.”
