HAMILTON, ON // September 27, 2024 – Innovation Factory is thrilled to announce the winners of the 14th Annual LiONS LAIR pitch competition and awards gala yesterday. The event attracted over 400 attendees from the region’s business and innovation community. The competition highlighted some of the region’s most innovative start-ups and featured an exciting competition for the $55,000 cash prizes up for grabs.
Innovation Factory’s LiONS LAIR is a premier annual pitch competition, celebrating innovation and entrepreneurship. This prestigious event marks the culmination of extensive training for participating start-ups, who also benefited from the advice of angel and venture capital investors. This year’s event was supported by key sponsors, including Gowling WLG, BDO Canada, Capitally Finance Corp, and Spur Innovation Centre whose contributions were invaluable in supporting the finalists and the success of the gala event.
This year’s judging panel of “LiONS” included Derek Sheppard, associate at Gowling WLG; Danielle Graham, the co-founder of The Firehood; Jonathan Brindley, founder of Capitally Finance Corp. and Chris Rathwell, senior manager at BDO Canada.
Infinite Harvest Technologies impressed the judges and took the top prize of $30,000 for their cleantech solution for the agri-foods industry, using insects for bio-digestion of organic waste, then as ingredients for pet food and animal feed.
“We are incredibly honoured to receive this recognition at LiONS LAIR! Being a part of the Innovation Factory community has been an invaluable experience for us,” said Luis Ortiz, founder and CEO of Infinite Harvest Technologies. “The mentorship, support, and connections we’ve gained through this program have been instrumental in helping us advance our mission to tackle global challenges through sustainable innovation. Thank you to Innovation Factory for believing in our vision and for continuing to champion entrepreneurs like us.”
Second place was awarded to Yellowbird Diagnostics Inc., earning $15,000 for their plug-and-play imaging dyes for common medical imaging procedures. Their solutions enable better diagnostic imaging for patients with the greatest need for early diagnosis of diseases of the brain, heart and kidneys.
Coming in third, Maman Biomedical was recognized with a $7,500 cash prize for their innovative therapeutic patches to eliminate the burden of multiple daily injections, affording an improved fertility treatment experience with zero pain/trauma from repeat injections, assurance of consistent and accurate dosage, and minimal lifestyle impact.
The audience voted for The People’s Choice Award and DOUBL Manufacturing Ltd. earned $2,500 for their standout pitch for their retail start-up that reimagines the way we wear and shop for the fundamentals of our wardrobes.
“This year’s LiONS LAIR competition showcased an incredible array of talent and groundbreaking ideas,” said David Carter, CEO of Innovation Factory. “The dedication and innovation displayed by each of the finalists is truly inspiring, and we’re proud to support their journey. LiONS LAIR continues to be a platform where emerging start-ups can gain invaluable insights and mentorship, helping to propel their businesses to the next level.”
The 14th annual gala also hosted a visit from Honourable Filomena Tassi, Minister responsible for the Federal Economic Agency for Southern Ontario (FedDev Ontario) who announced the renewal of Innovation Factory’s Southern Ontario Pharmaceutical and Health Innovation Ecosystem (SOPHIE) program with an investment of $5 million investment from the Government of Canada through FedDev Ontario. This investment will continue to support the commercialization of life science innovations and foster the growth of Ontario’s health and medical technology sectors.
Since the inaugural LiONS LAIR in 2010, Innovation Factory has worked with more than 165 companies and awarded over $1M in cash and in-kind resources all made possible through the support of dedicated partners and sponsors. Special thank you to the City of Hamilton’s Economic Development Office, Gowling WLG, BDO Canada, Capitally Finance Corp, Spur Innovation Centre, McMaster University, McMaster Innovation Park, BDC, The Hamilton Business Centre and Cable14.
About Innovation Factory
Innovation Factory is a not-for-profit business accelerator, serving as the catalyst for technology innovation in the Brant, Halton, Hamilton and Norfolk regions since 2010. Innovation Factory provides business services, training, mentorship, and strategic connections to drive market adoption, leverage intellectual property, and increase revenues, investment, and jobs. Innovators can also access sector-specific resources including exclusive smart transportation test environments and data; and a formal life science and health innovation ecosystem.
