Florida State University-affiliated startup companies took to the stage "Shark Tank" style on Wednesday, pitching their innovative ideas at the second annual Discovery Challenge event, and walked away with a combined $110,000 in new funding.
Discovery Challenge was a high-energy event that allowed three startups to pitch to four judges and the audience about their plans to take FSU-developed technologies to the next level of development and commercialization. The event, held at the Augustus B. Turnbull III Conference Center, was part of FSU Discovery Days, a week that celebrates FSU research, creativity and innovation.
"Innovation is truly everywhere, and everyone has a part in that philosophy," said FSU Vice President for Research Stacey Patterson. "This is just a really great opportunity for us to showcase not only the research that's happening at FSU but also the FSU research that's moved out into the marketplace and to startup companies to help move those technologies forward."
Presenters each had seven minutes to pitch their project for a chance at funding, followed by questions from judges. The judges for the event were Kathy Chiu, Louis Foreman, Christina Larkin and Keevin Williams. All four have years of experience in the venture capital funding and entrepreneurial spaces.
The three presentations featured a range of topics: a solution to seafood mislabeling and substitution; new technologies for wideband radio frequency semiconductor products and tools; and life-saving therapies for deadly brain tumors.
Kyle Parella with Cypris Therapeutics took the first prize of $50,000 as well as the crowd favorite award of $10,000; Dave Williams with SeaD Consulting took home the second prize of $25,000; and runner-up Qianli Mu with AMRF Technologies also received $25,000.
Kyle Parella: Cypris Therapeutics
Parella won first place and crowd favorite for his company's development of a promising potential treatment option for patients with glioblastoma, a fast-growing and deadly brain tumor that will affect more than 200,000 people this year.
Currently with the best treatments available, patients can look at extending their life expectancy by about 12 to 18 months. Cypris, in partnership with FSU associate professor James (Jim) Frederich, has seen that their new treatment development could be 60% more effective than others on the market while showing minimal toxicity toward healthy brain tissue.
"We're really grateful to FSU for putting this event on and for being able to reach more people about the urgent issue that we're addressing," Parella said. "We're not just doing glioblastoma; we're also going after pancreatic and colon cancer, which currently don't have any drugs to address these two biggest killers."
Dave Williams: SeaD Consulting
Williams took home second prize for his company SeaD Consulting's development of RIGHTTest, a rapid ID genetics high-accuracy test to help identify seafood mislabeling and substitution.
He says that seventy percent of seafood is mislabeled causing many to pay for one product when in actuality they are getting an entirely different product altogether. RIGHTTest enhances transparency and authenticity, providing test results in two hours.
Qianli Mu: AMRF Technologies
Mu was named a runner-up for his company's pitch proposing new technologies for wideband radio frequency semiconductor products and tools. Alongside Bayaner Arigong from the FAMU-FSU College of Engineering, the company is working to further the technology around antennas used for detection and communication that would have implications for civilian and government use.
Specifically, the company is proposing wideband standard radio frequency solutions surrounding signal conditioning and amplification through modularization and integration.
Discovery Challenge was supported by FSU's IGNITE initiative, a program designed to grow new technology ventures through business development expertise, an expansive community network, top-of-the-line facilities and access to funding sources.
FSU Discovery Days events continue through Saturday, Oct. 12. For the full calendar of events, visit discoverydays.fsu.edu
