In a year that threw the world a giant curve ball, the Pitt Ventures Student Challenge went virtual for 2020 and hit a home run.
The new format did not dampen the enthusiasm of all those involved, from the students and their faculty sponsors, to the volunteer mentors and judges, who in the case of the Michael G. Wells Student Healthcare Competition, decided to change things up even further with a new twist on awarding the prizes.
The Wells competition and the Kuzneski Innovation Cup
celebrated their 10th and 5th anniversaries respectively in 2020. They have been crucial building blocks of the new culture of innovation and entrepreneurship that has emerged at Pitt since the establishment of the Innovation Institute in 2013.
The Wells competition has produced 16 startups and another 6 licenses. The Kuzneski cup has produced 7 startups. Combined, Wells and Kuzneski competition participants have raised more than $30 million in follow-on funding.
Here are the winners of the 2020 Pitt Ventures Student Challenge:
3rd Place: $5,000
NanoNares
NanoNares is a platform technology for pharmaceutical companies that develop respiratory drugs who experience high failure rates in clinical trials. Based on the principle that "the nose is the window to the lung," NanoNares uses nasal cells to generate robust data that improves drug efficacy testing, thereby reducing failure rates and associated costs.
2nd Place: $7,500
Al Smiles
For patients, dentists, and payers who want a seamless denture experience, the additive-manufactured denture dramatically reduces cost, number of appointments, and waste, providing a better experience for all involved.
1st place: $15,000
Charge OR
For perioperative care providers and administrators who struggle with the time-honored whiteboard system of scheduling staff and patients within the perioperative setting, Charge OR is a multi-platform web application that allows for the efficient delivery of real-time surgical and anesthetic scheduling information.
Faced with three strong presentations in the Michael G. Wells Student Healthcare Competition, and with little daylight between them, the judges decided to make an award of $5,000 to each of the three teams. In the spring, they will be invited back to pitch again demonstrating the progress they have made on their innovations and their business plans, with a chance of receiving additional awards.
“I appreciate the hard work these teams put into these presentations, and their delivery was excellent. It was our determination that these teams could use a little bit of money and a little more time to move their ideas along,” said Michael Wells, the competition’s benefactor.
The teams receiving $5,000 each are:
Organ Perfusion Stent
An innovative endovascular device that provides oxygenated blood flow to critical abdominal organs to maintain organ health for transplant harvesting.
BioBulwark
A bactericidal graphene coating for mesh implants that provides long-lasting prevention of infection, superior to currently popular organic chemical coatings.
Biocarpet
A new endovascular device that can be thermoformed to treat peripheral arterial disease occurring in small and complex anatomies, including lesions occurring across joints.
In the spring, they will be invited to pitch again and demonstrate the progress they have made on their innovations and business plans and have the opportunity to be awarded up to $15,000 in additional funding.
You can view a replay of the entire the awards ceremony here.
You can get a deeper look at the innovations from this year's competition here.