The Rochester Economic Development Inc. board of directors recently voted to recommend that $125,000 be invested in Nanodropper and $100,000 be invested in FlowSIGMA. The Rochester City Council will consider approving the investments during its Jan. 20 meeting.
The development fund is financed by Rochester's half-cent sales tax, with the goal of supporting “business development that facilitates growth and diversification of the local economy.” EDF investments can be made in increments of up to $250,000.
Nanodropper makes and sells a precision eye drop bottle adapter that reduces medicine waste by delivering a more precise drop, benefiting patients as well as doctors. Allisa Song, a Mayo Clinic Alix School of Medicine student and CEO of Nanodropper, co-founded the company with Elias Baker, Jennifer Steger and Mackenzie Andrews.
FlowSIGMA, a spinout company from Mayo Clinic’s Department of Radiology is described as "a leading vendor of Intelligent Process Automation and Workflow Orchestration software systems and services for medical imaging."
FlowSIGMA has relationships with Philips and GE Healthcare.