University of Iowa

Digital Diagnostics was founded in 2010 by former professor and health care ophthalmologist at the University of Iowa Dr. Michael Abràmoff. The company was created after Abràmoff developed technology designed to detect diabetic retinopathy with the assistance of artificial intelligence, supported by federally funded research. In 2018, Digital Diagnostics received first-of-its-kind approval from the FDA for its LumineticsCore technology, which hopes to provide early detection of diabetic eye complications. Early detection and treatment can reduce the chance of blindness by up to 95% for the nearly 8 million Americans who are affected by diabetic retinopathy. Thanks to the University of Iowa’s robust research and technology transfer ecosystem, LumineticsCore has identified thousands of previously undiagnosed cases of diabetic retinopathy.

Digital Diagnostics has consistently grown since its launch in 2010, securing over $185 million in funding from prominent optometric investors like Optum Ventures. As the pre-eminent leader in AI-based detection for diabetic retinopathy, Digital Diagnostics is poised to lead in an industry with a nearly $9 billion global market cap. With over 60,000 Americans going blind each year from diabetic retinopathy, Digital Diagnostics can reduce the significant burden and cost associated with visual impairment and blindness.

As a premier public research university, the University of Iowa (UI) extends its impact far beyond its campus, driving advancements across diverse fields and significantly bolstering the local economy.

In fiscal year 2024, UI secured $811 million in external funding, including $683 million earmarked for cutting-edge research, public service, and creative discovery. This represents a 22% increase in research funding compared to the previous year, underscoring the university’s growing influence in the research landscape. UI has a substantial economic footprint, contributing $8 billion annually to Iowa’s economy and supporting 1 out of every 19 jobs in the state. UI’s research extends across various domains, including significant strides in space, cancer and neuroscience research.

Notably, industry-supported activities, including clinical trials, rose 17% to $149 million, marking the highest in the institution’s history. The National Science Foundation’s support of UI research projects also increased by 56% to a record high of $18 million, including a new $1.2 million project to advance the personalization of hearing aids.

Through the University of Iowa Research Foundation (UIRF), UI has established robust economic development infrastructure and plays a pivotal role in translating research into real-world applications. The UIRF works to protect intellectual property and foster partnerships with industry for commercial development.

From groundbreaking research and substantial economic impact to fostering innovation, the University of Iowa continues to cement its position as a vital contributor to the region’s innovation ecosystem and a driving force for the state’s economic prosperity.