As the world’s reliance on innovation escalates, the LES Foundation is helping to ready the next generation of industry professionals through mentorship and educational programs that build intellectual property (IP) and licensing know how.
2016 Finalists Announced!
The results of the first round are in! The LES Foundation would like to congratulate our Finalists, who will continue to the final round of the International Business Plan Competition! In alphabetical order, they are:
- Essential Biotechnology LLC. Medical College of Wisconsin, USA. Essential Biotechnology has a new approach to cancer therapy based on the discovery of a molecule, CRR9, that serves as a nexus in regulating tumor cell survival through multiple pathways- allowing the tumor cells to survive the stresses of their environment and chemotherapies. Essential Biotechnology has developed monoclonal antibodies that target this nexus and kill cancer cells by making them sensitive to stress once again. Preclinical work has shown that this approach to be highly effective, even on traditionally “undruggable” Ras-driven cancers, which have been highly sought after by the pharma industry for years.
- Fruiti-Cycle Project. Makerere University, Uganda. Fruti-cycle is a biogas powered tri-cycle, with a 300kg carrying capacity refrigerated courier for conveniently and safely transporting fresh fruits and vegetable to the market. It is targeted at the 70% of small scale farmers in developing world. Fruti-cycle is half the price of our competitor Bajaj tri-cycle and easier to run in the long run. It will earn revenue through direct sales ($800) +licensing fee ($8/month). With 50,000$ initial cost, it provides a 15.6% return on investment in the second year. With subsidies from the government, partnerships with local farmers’ organizations and international organizations, fruit-cycle shall obtain a sustainable competitive advantage to create cheaper better model to supply the local market and scale to international market within five years.
- Guardian Sensors. University of Texas at Austin, USA. Guardian Sensors, inc. is an Austin, TX based company that develops next generation wearable sensor technology for medical applications. Current sensors for vital sign monitoring are bulky, wired, and limited in functions. Guardian Sensors aims to resolve these limitations by offering a wireless, battery-free platform monitoring system based on proprietary sensors technology.
- Suncayr. University of Waterloo, Canada. Suncayr wants to help everyone enjoy the sun more safely. Suncayr is developing a colour-changing sticker, that is applied on the skin, and tells you when your sunscreen is no longer protecting you. The ultraviolet (UV) responsive sticker is clear when your skin is protected from UV, and turns purple when exposed to UV.
- Verdéate - Green Challenges. Colombian National University, Columbia. Verdéate - Green Challenges reduces the amount of energy, water, paper, plastic, CO2, etc. that a company or industry uses, by creating customized web and mobile green applications called “Green Challenges”. They introduce in a simple and fun way, new sustainable consumption habits into the daily routines of employees, clients and stakeholders.
- WarpSpec. North Carolina State University at Raleigh, USA. Every year the U.S. meat processsing industry loses $1.2 billion in holding cost and lost product shelf life due to delays in slow pathogen testing. We're developing an in-line system that scans meat products for pathogens like Salmonella in real time. It works by isolating the vibrational frequencies in reflected infrared light to identify the "spectral fingerprints" of pathogens of interest. Our platform technology was patented by the US Navy and allows our system to filter light faster than any product on the market, saving our customers billions.
Why Choose the LES Foundation Competition?
Frank Barnes Mentor Award
The Frank Barnes Mentor Award is an annual award given to a deserving executive, who has, like Frank Barnes, mentored many licensing executives. This award will be presented each year at the LES (USA & Canada) Annual Meeting.