Lapovations LLC, a small business formed at the University of Arkansas, received a $999,429 Small Business Innovation Research Phase II grant from the National Science Foundation. The grant builds on the success of its $225,000 Phase I grant and will be used to develop and commercialize its products.
Lapovations is a medical device company that focuses on improving laparoscopy, or minimally invasive abdominal surgery. The company was formed in the New Venture Development program presented by the U of A’s Office of Entrepreneurship and Innovation. In 2018, Lapovations became the most successful startup competition team in U of A history, winning seven state, regional and national business plan competitions, placing second in two others, and earning more than $305,000 in cash and investment prizes.
In 2019 Lapovations was awarded a $50,000 grant by Arkansas Economic Development Commission as part of the Arkansas Small Business Innovation Research Matching Grant Program. Lapovations has also participated in two competitive Arkansas accelerator programs, the Delta I‐Fund and Health InnovatAR (now HealthTech Arkansas), that provided an additional $100,000 in combined investment along with valuable mentorship for the company and introductions to key stakeholders in the startup and medical communities.
Lapovations is a member company in the U of A Startup Village.