A medical artificial intelligence (AI) startup was named one of 2017’s 20 most innovative technology companies by the Canadian Innovation Exchange (CIX) earlier this month.
Elucid Labs, a startup founded by three University of Waterloo researchers, uses AI technology in a small imaging device for the early detection of skin cancer. The technology helps dermatologists make better, faster decisions and reduces the number of unnecessary biopsies.
The company’s co-founders are Alexander Wong, a professor of systems design engineering, Iman Khodadad, an electrical and computer engineering PhD graduate from Waterloo, and Farnound Kazemzadeh, who undertook much of the research as part of his PhD at Waterloo.
“The revolutionary technology developed by Elucid Labs enables unique AI-powered deep tissue analysis beyond the surface, making it a game changer for enhanced clinical decision making support,” said Wong, who is also the Canada Research Chair in Medical Imaging Systems. “We are very honoured to have Elucid Labs receive recognition for this innovation by CIX.”
Top Hat founded by University of Waterloo engineering graduates Mike Silagadze and Mohsen Shahini, was also named to CIX’s top 20 tech company list. Launched in 2009, the company’s interactive, cloud-based teaching platform enables professors to engage students inside and outside the classroom.
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.
About the University of Waterloo
University of Waterloo is Canada’s top innovation university. With more than 36,000 students we are home to the world's largest co-operative education system of its kind. Our unmatched entrepreneurial culture, combined with an intensive focus on research, powers one of the top innovation hubs in the world. Find out more at uwaterloo.ca.