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November 18, 2012 | Tom Ballard

Urova Medical wins LifeSciTN’s inaugural business plan competition

Urova Medical, one of the companies coming out of this year’s “Zero to 510” medical device competition in Memphis, won top prize in last week’s business plan competition held in conjunction with Life Science Tennessee’s annual meeting in Nashville.

The company is developing a minimally invasive treatment to address feminine stress urinary incontinence. Vidhan Agrawal, co-founder and Chief Operating Officer, said the concept is to offer patients a quick procedure with a shorter recovery time.

Urova won a $5,000 cash prize, “first call” on a set of services provided by several Life Science Tennessee members, and the possibility of additional investments from the four TNInvestcos that are very active in the life science space.

Second place in the competition went to NanoOpthalmics, another “Zero to 510” company developing a corneal micro-punch to enhance healing of abrasions, recurrent erosions, and degenerative corneal diseases by modifying tissue attachments at the cellular level. Third place went to EcoSurg, a company focused on supplying environmentally-friendly products to the healthcare sector.

In addition to these three companies, two others competed in the business plan competition and eight more introduced their companies during a non-competitive showcase.

East Tennessee companies that presented during the two events included 490 BioTech of Knoxville, eSpin Technologies of Chattanooga, and IPE of Kingsport/Johnson City.

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