Iowa JPEC nurtures faculty, researchers into entrepreneurs

This story first appeared in Celebrating Entrepreneurship, a new special section that highlights the entrepreneurial ecosystem in the Corridor.

As a researcher and physiologist at the University of Iowa, Melissa Bates developed and refined medical equipment for hospitals that measure the volume of the airways in lungs. Because 30 percent of hospital visits are for breathing problems, Bates knew her work was important. But she saw room for improvement.

In rural communities, patients often had to travel long distances to see specialists. And larger hospitals were bursting at the seams: doctors were overbooked, and parking lots were full. Plus, because patients had to visit the hospital to be tested, their symptoms couldn’t be monitored closely.

“As a physiologist, I knew that doctors really needed to see how the body works over time,” Bates said. “Not just at weekly or monthly hospital visits, but daily.”

So, Bates came up with the idea to create a handheld version of the large lung-testing equipment she’d helped to develop. Patients could use it to monitor their health at home and report back to their doctors. But how was she to get it into the hands of people who need it?

Bates turned to Iowa’s John Pappajohn Entrepreneurial Center, or Iowa JPEC.

“Iowa JPEC offers classes for faculty and researchers,” said Gregg Barcus, entrepreneur-in-residence at Iowa JPEC. “It provides high-level mentoring to researchers who want to become entrepreneurs both on and off campus. We work with people who are interested in starting a company and don’t know where to start.”

Bates and her husband, Dr. Michael Tomasson, professor of internal medicine-hematology, oncology, and blood and marrow transplantation at the University of Iowa, signed up for Barcus’s Zoom class for researchers who want to become entrepreneurs. There, they learned how to build out their dream for a new product and service into a business.

The classes offered by Iowa JPEC had some sobering news for the budding entrepreneurs.

“One of the very first things we learned was the number one reason a small business will fail: they make a product nobody wants,” Bates said. To avoid that pitfall, students in the class were encouraged to meet with potential customers and listen to their needs.

Encouraged by Barcus to participate in a competitive National Science Foundation program for entrepreneurs, Bates and Tomasson leaned into the problem-solving approach to entrepreneurship. As part of the NSF program, they interviewed 100 potential customers for their new company, LSF Medical Solutions.

“With every conversation, we realized we were building something that addressed a need,” Bates said. Doctors and hospital administrators saw the potential for the respiratory device to keep patients healthy and unburden the heavy schedules of lung specialists.

Melissa Bates, CEO of LSF Medical Solutions, accepts an award for Innovator of the Year 2024. Bates has participated in many programs for budding entrepreneurs offered by Iowa John Pappajohn Entrepreneurial Center. (Photo courtesy of the University of Iowa)

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Melissa Bates, CEO of LSF Medical Solutions, with Amy Kristof-Brown, dean of the Tippie College of Business. (Photo by Darren Miller, University of Iowa)

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Melissa Bates (Photo by Darren Miller)

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They also discovered more potential customers for their product: athletes and trainers were also interested in the respiratory device.

But for any new medical product to reach the market, funding for research and development is needed. To procure that funding, Bates and Tomasson would need to learn how to pitch their ideas to investors.

There, too, Iowa JPEC and its programs provided support.

“You might have the best product in the world, but if you can’t articulate it, you won’t go anywhere,” Barcus said. “When you go to a potential investor, you have 5-8 minutes to convince them to support you. You need to explain: what problem are you solving for what customer?”

Barcus notes that many researchers tend to lapse into long discussions of the technical aspects of their work, rather than focusing on how an invention or idea can fill a need in the community. Taking classes with Iowa JPEC can help new entrepreneurs match their pitch to the audience’s needs.

With feedback from Barcus, Iowa JPEC classmates and local mentors, Bates honed her pitch for LSF Medical Solutions, winning pitch contests and securing funds to develop her product. She was also named the 2024 Iowa Innovator of the Year, an award “granted to (a) startup affiliated with faculty/staff at the University of Iowa that has completed Iowa JPEC's University of Iowa Innovators Workshop.”

Bates is enthusiastic about the support she received from local entrepreneur mentors as she researched the market and worked on her pitch.

“The business community of Iowa has been great,” she said. “People here are very giving with their time and very open to helping new businesses.”

The runway to get a medical device ready for the public is long. But with all the encouragement and support they’ve received, Bates and Tomasson estimate that their respiratory device is about 18 months from launch.

In addition, the research they’ve done has led them to discover additional medical needs that LSF Medical Solutions can address. They’re currently working on a product that leverages Artificial Intelligence to help health care practitioners connect patients to the care they need.

“I started as a respiratory device company,” Bates said. “Now, I focus on getting patients the most effective care.”

Barcus is amazed by the entrepreneurs he and Iowa JPEC helped nurture.

“Every so often, we come across a product that will disrupt the market and make an impact on the world. That’s what Melissa’s doing,” he said.

Visit iowajpec.org for more information on programs, resources and events.