Innova Memphis Inc. is a venture capital arm of Memphis Bioworks Foundation specializing in pre-seed, seed, startup, and early stage investments. It focuses on starting and funding high-growth companies in the healthcare, healthcare information technology, medical device, biosciences; biotechnology; particularly orthopedics; pharmaceuticals; life sciences; technology, logistics; farming technology, equipment and enabling innovation, including robotics; technologies pertaining to crop production, harvest, storage, supply chain/logistics and processing/productivity tools and software; areas of precision agriculture such as crop, water and chemicals management; innovations addressing food security, safety and nutrition challenges; animal health and welfare systems and practices; and agricultural biotechnology sectors. The firm primarily targets companies headquartered in rural America specifically in Tennessee with 60% of the employees based in Tennesse. It prefers to be the first institutional investor in companies having less than 100 employees. The firm seeks to invest upto $2 million in each of its portfolio companies. The firm further assists the companies in linking with established corporations for licensing, buy-outs or further investments. It is also active in the board of director positions. Innova Memphis Inc. was founded in 2007 and is based in Memphis, Tennessee.