Pioneer Spotlight: Nanodropper
Yoo & Co. Accelerators recently had the chance to sit down and talk with Allisa Song, a visionary trailblazer who stands as the CEO and Founder of Nanodropper and an M.D. Candidate at the Mayo Clinic Alix School of Medicine. Operating as one of our esteemed Pioneer companies, Nanodropper is revolutionizing the landscape of medical innovation. At the epicenter of this transformation is the Nanodropper Adaptor – an ingenious solution meticulously designed to combat the burgeoning issue of wastage stemming from medicated eye drops. These drops, in addition to being a financial impediment, have been a stumbling block obstructing patients from accessing high-quality and cost-effective eye care. The Nanodropper Adaptor serves as a pivotal paradigm shift, reducing the volume of these oversized eye drops by an impressive 60%. In effect, this innovation achieves a trifecta of benefits: it reduces costs, decreases waste, and potentially mitigates adverse side effects associated with vision-saving treatments.
Nanodropper, however, is far more than a mere provider of transformative products; it operates as an invaluable source of education for patients grappling with the intricacies of vision insurance, scheduling eye doctor appointments, and optimizing resource allocation. These unwavering pursuits seamlessly align with Nanodropper’s overarching mission, which strives to empower patients, enabling them to take back control over their eye health.
Allisa crossed paths with Chris, the CEO and Founder of Yoo & Co., in January of 2020 right before the pandemic. She said, “I didn’t know I was looking for or needed a Chris.” Over the span of the next couple of years, Chris and the Yoo & Co. team introduced Nanodropper to a network of connections they might not have encountered otherwise, despite the geographical distance (Nanodropper is headquartered in Minnesota, the “Land of Medical Devices”). Allisa highlighted the remarkable foresight of Yoo & Co. in identifying not just the potential of a business, but also recognizing the latent capabilities within its team even during the nascent stages.
When it comes to the journey of startups, especially those led by women, the road can be paved with unique challenges. At the time when Allisa was conducting market research, she became discouraged by the lack of successful exits by ophthalmology companies with female founders. Yoo & Co. helped Allisa and the rest of her team champion these obstacles and “think about diversity in an intentional manner.” This approach is vividly reflected in the impressive fact that 80% of the Nanodropper team consists of women, underscoring the company’s commitment to inclusivity.
Today, Nanodropper has received over 20 awards and accolades from institutions like the National Inventors Hall of Fame, National Science Foundation, and US Air Force. In 2022, Allisa was named to the “Worthy 100 List,” a list celebrating the 100 people who made the biggest impact in 2022, alongside such luminaries as Supreme Court Justice Sonia Sotomayor, business tycoon Warren Buffett, and Ukraine President Volodymyr Zelensky. Since its inception in 2020, Nanodropper products are sold in over 2,000 locations in 50 US states plus DC, Puerto Rico, and the US Virgin Islands. Tens of thousands of adaptors have been dispensed and millions of eye drops have been saved.
Yoo & Co. has always been on the lookout for founders who possess the visionary mindset to transform aspects we often take for granted. We seek those bold enough to infuse technology into everyday problems, thus making a tremendous impact on improving the human condition. Nanodropper embodies precisely the type of startup and outcome that we at Yoo & Co. aspire to foster. Our journey with Nanodropper has been nothing short of transformative.