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September 14th, 2015

September 14th, 2015

TENNESSEE INNOVATION IN THE NEWS
Chattanooga Reinvention Story Attracts AngelSummit
Nooga.com
Chattanooga businesspeople and entrepreneurs likely know the story of their city’s reinvention. And that story is what appealed to Startup Angels leaders, who are bringing AngelSummit US to the Gig City next month. Startup Angels is a global organization for new angel investors to learn about the industry and new markets. Founder and CEO Leslie Jump said that Chattanooga business leaders should continue to spread the word about its renaissance and entrepreneurial successes.
Making Memphis a Great Medical Center
The Commercial Appeal
Greater Memphis’ health care industry employs nearly 70,000 people, including about 2,100 at the University of Tennessee Health Science Center, home of the state’s oldest and largest medical college. But if you’re going to get really sick, Birmingham, Nashville and New Orleans harbor the nearest top hospitals for adult care. Not one of the 21 hospitals in metropolitan Memphis reviewed by U.S. News & World Report have made the magazine’s widely watched list of America’s best hospitals for adult men and women. Now Steve Schwab says he is trying to put Memphis in the ranks of nationally acclaimed medical centers. “We need to become a health-care destination,” said Schwab, the UTHSC chancellor.
Start.Co Alum Cabsolutely Taps Into Nashville Market
Memphis Business Journal
An alum of one of the Start Co. accelerators is launching in Nashville. Cabsolutely, a cloud-based taxi dispatch and rider app, has formed a partnership with Kwik Cab, a Nashville cab company, clearing the way for Cabsolutely to move into the Nashville market. In 2014, the company formed partnerships with Premier Transportation, Yellow and Checker Cab. Cabsolutely has been testing its dispatch and driver software in the Kwik Cab fleet for the last few weeks, and is also looking for beta testers on the customer side.
Startup, Preteckt Helps Keep Distribution Smooth
High Ground News
Start Co., a venture development group based in Memphis, helps accelerate startup ideas into actual businesses. This think tank incubator helps provide entrepreneurs access to mentors and investors. But the bulk of the work is shouldered by those trying to launch their ideas. Preteckt is one such startup. It is a hardware/software program designed to predict vehicle breakdowns. Memphis is recognized as a distribution center, offering road, rail, air and water modes of transportation.  Of all the $870B in freight that annually moves through the USA, 80.3 percent is hauled over roadways with Memphis as one of the main hubs.
Surgery and Engineering Initiative Becomes Institute
Vanderbilt University
VISE is keeping its acronym but changing its name. The Vanderbilt Initiative in Surgery and Engineering will become the Vanderbilt Institute in Surgery and Engineering. The promotion from a three-year trial program to an established institute is the consequence of a Vanderbilt Reinvestment Award from the University’s $50 million Trans-Institutional Program, which is part of Vanderbilt’s new Academic Strategic Plan. “This investment represents the university’s commitment to the continued success of an exceptional cross-disciplinary effort to create new surgical devices and techniques and to support their translation from bench to bedside,” Provost and Vice Chancellor for Academic Affairs Susan Wente said. “This kind of research holds tremendous promise for both improving the quality and reducing the cost of healthcare.”
Wright Medical Receives FDA Approval for Augment Bone Graft
Healio.com
Wright Medical Group Inc. announced FDA premarket approval for its Augment bone graft, which can be used as an alternative to autograft for ankle or hindfoot fusion indications. According to a company press release, Augment bone graft is the first clinically proven protein therapeutic to come to the U.S. orthopedics market in more than a decade and has an estimated market opportunity of approximately $300 million in the United States. The bone graft uses a combination of recombinant human platelet-derived growth factor (rhPDGF) and beta-tricalcium phosphate and can help patients avoid secondary surgical sites for the harvest of autograft tissue.

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