Three Nanotechnology Engineering student teams won at the Winter 2015 Velocity Fund Finals with projects based on time-release capsules, UV responsive marker ink and a hand-held device that measures vitamin levels.
During the Velocity Fund Finals, 10 companies pitched their businesses to a panel of judges representing the investment, startup and business communities. Judges weighed innovation, market potential, market viability and overall pitch. Vitameter led the pack winning a Velocity $25K grant plus an additional $10K prize for the best hardware startup. Competing in the same category, Suncayr also won a Velocity $25K prize. Early stage startup Kue won the Velocity $5K prize for most innovative.
Vitameter, a handheld device that measures vitamin levels to help ensure proper dosage, was the big winner at the March 26 event. Founders James MacLean and Nirushan Udayakumar, both fourth-year nanotechnology engineering students, and Udit Mondal, a third-year electrical and computer engineering student, received $25,000 plus $10,000 to help cover additional startup costs for Vitameter, an Nanotechnology Engineering Capstone Design project. The company also receives space at the Velocity Garage and the Velocity Foundry.
“Our product is essential for people at high-risk for vitamin deficiencies, such as people with anemia, those undergoing chemotherapy, pregnant women and the elderly,” said James MacLean, co-founder of Vitameter. “This is a huge opportunity to get our device to market and to the people who need it.”
Suncayr is developing a UV-responsive marker ink that tells you exactly when to reapply sunscreen. This can be drawn directly on the skin before applying sunscreen, and when the sunscreen is no longer blocking UV rays, the ink changes colour. Suncayr is making sun safety personal, fun and simple. Co-founder Rachel Paulter said, “we are super excited! There was great competition and we are happy to be that much closer to bringing our product to market.”
During the Velocity Fund Finals, an additional 10 teams of University of Waterloo students competed for three prizes of $5,000 and access to Velocity workspaces.
Most Innovative: Kue, founded by Kamyar Ghofrani and Josh Reid, both second-year nanotechnology engineering students. Kue is a timed-release capsule that will open after a specific amount of time. This caffeine product gives consumers a burst of energy before they wake.
