A medical startup founded by three Waterloo Engineering researchers has been named one of the 20 most innovative technology companies for 2017 by the Canadian Innovation Exchange (CIX).
Elucid Labs, which uses artificial intelligence (AI) technology in a small imaging device for the early detection of skin cancer, grew out of research by Farnoud Kazemzadeh for his PhD at Waterloo.
Farnoud Kazemzadeh, left, and Alexander Wong of technology startup Elucid Labs have been recognized for innovation.
The company co-founders are Alexander Wong, a systems design engineering professor and Canada Research Chair in Medical Imaging Systems, and Iman Khodadad, who also earned a doctorate at Waterloo.
Companies are selected for the annual CIX Top 20 program by a committee comprised of technology experts and investors from across the country.
Hundreds of profiles were submitted for consideration this year based on key factors including product/service offering, depth of management, market opportunity and business model.
Elucid uses AI to analyze moles and other skin lesions for telltale signs of skin cancer, helping dermatologists make better, faster decisions and reducing the number of unnecessary biopsies.