Taking a Shot at Entrepreneurship: Competition provides Londoners with opportunity to market technologies

For a second consecutive year, Londoners are taking steps to bring one of three of the city’s innovations to market – and to snag their share of more than $20,000 in prize money.

The annual Proteus Innovation Competition officially kicked off on November 17 with support from sponsors such as Synaptive Medical. A partnership of WORLDiscoveries, TechAlliance, Western Research Parks, Propel and Leap Junction, Proteus is open to anyone 18 years of age or older.

This year’s competition features three primary stages, including mentorship and training from industry professionals and a live pitch finale. The team with the best overall commercialization strategy for each technology will receive a $7,500 cash prize and the opportunity to assist in further developing and bringing the product to market.

The three featured technologies include a hand-held breast scanner which uses ultra-low energy to scan tissue, a cloud-based data collection app that accurately and efficiently collects data that can be shared with the appropriate experts for analysis, and a mirror box for lower-extremity therapy which allows patients to perform complex bilateral multi-joint movements.

Last year’s Proteus Innovation Competition crowned Team Otoinsight its first winner, propelling the team into a startup that has successfully gained its first sale using the Interactive Ear Diagnosis Training Software.

“Last year we sought to educate the community on the commercialization process and how they can be involved. OtoInsight exceeded all of our expectations by taking what they learned a step further and jumping into a company” says Lisa Cechetto, Executive Director, WORLDiscoveries. “This year we are hoping to repeat the same success and potentially bring all three technologies to market.”

“It was great to see what collaboration could achieve” says Marilyn Sincalir, CEO & President of TechAlliance. “Both with the competitors and the planning committee, the partnership between WORLDiscoveries, TechAlliance, Propel, Leap Junction and Western Research Parks is a great example of organizations working well together.”

For more information or to schedule an interview, contact Harman Malhi, Business Engagement & Data Specialist, TechAlliance, 519-858-5118, harman.malhi@techalliance.ca

ABOUT WORLDiscoveries
WORLDiscoveries® is the Business Development arm of London’s extensive research network and the bridge between local invention and global industry. Born out of a partnership between Western University, Robarts Research Institute and Lawson Health Research Institute, WORLDiscoveries® draws upon a mix of industry connections, sector-specific market knowledge and business development expertise, to help researchers and local inventors commercialize their discoveries through licensing and new company spin-offs.

Western University delivers an academic experience second to none. Since 1878, The Western Experience has combined academic excellence with life-long opportunities for intellectual, social and cultural growth in order to better serve our communities. Our research excellence expands knowledge and drives discovery with real-world application. Western attracts individuals with a broad worldview, seeking to study, influence and lead in the international community.