15
Jan-2015

NEWS RELEASE: Second Annual Life Science Competition Cultivates Commercialization

iF updates, Synapse   /  

 

NEWS RELEASE

Second Annual Life Science Competition Cultivates Commercialization

Competition designed to move Life Science innovations out of labs and into market

Hamilton, ON (January 15, 2015) – As Hamilton looks to develop a position as a leader in the life sciences industry, community members have come together to present the second annual Synapse Life Science Competition, which has been designed to foster commercialization for life science innovators.

The competition is a collaboration between Innovation Factory, Tech Alliance (London’s Regional Innovation Centre), McMaster University and Ontario Centres of Excellence.

“We have identified real opportunities within the life science industry in our region,” stated David Carter, Executive Director of Innovation Factory. “We are strategically positioned to build upon the hospitals and academic institutions already commercializing life science innovations in Hamilton, and competitions like Synapse play an important role in the development of a life science cluster.”

Through the competition, researchers and innovators will develop commercialization plans for their innovations by tapping into the knowledge and experience of some of the top MBA students in the Region.

Twelve finalists have been selected to participate in this year’s competition: 12 Squared Diagnostics, ANDzyme, Avertus, Blue Orchid, Cell Free DNA, Colourimetric Biosensing, Culture Made Faster, ExVivo Labs, Qidni Labs, RotaNovus, Sound Options and Virtual Possibilities. [READ FINALIST BIOS]

Teams have been formulated and are now tasked with developing an executive summary of their proposal, due in February, with a commercialization plan to follow in March. The top finalists will then present at a final showcase on April 8, 2015. The winners will receive cash and various in-kind services.

Advanced Theranostics, a spin-off biotechnology company from McMaster University, took home the grand prize at last year’s competition, for their point of need device which can diagnose both viral or bacterial infections in twenty minutes (the current standard being approximately 24 hours for diagnosis).

“Our participation in the Synapse Competition has definitely helped us get where we are today,” stated Dr. Christopher Stone, co-founder and senior scientist for Advanced Theranostics. “Both the development of our detailed commercialization plan and the industry contacts we made have and continue to be invaluable for our business growth.”

For more information on this year’s finalists or the competition, visit: SynapseLifeScience.com.

About Innovation Factory

Innovation Factory is the Regional Innovation Centre for Hamilton in the Ontario Network of Entrepreneurs, leveraging funding and support from all three levels of government and the city’s top private sector and institutional partners. Our goal is to stimulate economic activity in this city by helping Hamilton businesses embrace the principals of innovation.

A member of the Ontario Network of Entrepreneurs (ONE), we are focused on strengthening Hamilton’s next generation of job generators. innovationfactory.ca

Funded by the Government of Ontario, the Ontario Network of Entrepreneurs (ONE) is Ontario’s innovation system. The ONE is made up of regional and sector focused organizations designed to help Ontario-based entrepreneurs rapidly grow their companies, and create jobs. For more information visit onebusiness.ca.

Media Contact For more information, contact Emily Kinread, Marketing & Communications Manager, [email protected]; 905.667.2611 x233

 

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