The Proteus Innovation Competition, a dynamic four-month challenge, has kicked off, inviting students from the University of Waterloo and four other esteemed Ontario institutions to craft compelling commercialization strategies for breakthrough technologies. With over $25,000 in cash prizes and the opportunity to license novel technologies for startup ventures, the competition aims to nurture entrepreneurship and bring cutting-edge discoveries to market.
Launched virtually on November 15, the Proteus Innovation Competition showcases technologies from five prominent Ontario research institutions: the University of Waterloo, Wilfrid Laurier University, Western University, McMaster University, and the University of Windsor. Each institution presents a unique technological innovation, offering a diverse range of opportunities for aspiring entrepreneurs.
From the University of Waterloo comes a groundbreaking technology addressing the global challenge of food waste. Developed by Professor Emmanuel Ho from the School of Pharmacy, this smart bacteria-responsive platform releases antimicrobial agents in the presence of specific bacteria, particularly those responsible for foodborne illnesses. The platform’s nanotechnology creates a liposome-based formulation that provides sustained drug release, responding only to the presence of bacteria-producing cholesterol-dependent cytolysins (CDCs).
Professor Ho emphasizes the significance of reducing food waste not only in cutting greenhouse gas emissions but also in addressing hunger, and pollution, and preserving nature. The technology, a first-of-its-kind bacteria-responsive innovation, offers a high level of specificity, extending the shelf life of food products without the need for preservatives with potential side effects. Beyond food packaging, its applications span surface coatings for high-contact areas, presenting a versatile solution in various contexts.
The Proteus Innovation Competition challenges participating students to develop an abstract introducing their team and showcasing their understanding of the selected technology. Subsequently, teams are tasked with creating a comprehensive business plan outlining the path to market for the technology. The competition culminates in a pitching session before a panel of judges evaluates presentation skills and the viability of the proposed plan.
Over the four-month competition period, teams benefit from workshops, mentors, and advisors, refining their commercialization plans. The winning teams will have the opportunity to present their pitches to a distinguished panel of judges, with the results set to be announced in spring 2024.
The Proteus Innovation Competition serves as a catalyst for entrepreneurial growth, fostering collaboration, innovation, and the transformation of groundbreaking technologies into tangible solutions for real-world challenges.
