Founder Shane Kilpatrick, a Waterloo graduate with a Master of Business, Entrepreneurship, and Technology (MBET), made the five-minute pitch on how life-saving medicines for detrimental diseases cannot be commercialized due to their complexity and problems with manufacturing and scientific innovation.
Presented by Velocity and the Problem Lab, and generously funded by Quantum Valley Investments®, the Problem Lab competition provides financial awards to support the research and development efforts of teams who demonstrate the most thorough understanding of their problem.
Six teams in total provided extensive research about the history, scope, and impact of their chosen problem to an audience of students, community members, and a panel of judges.
Following their pitch, each team answered questions from an expert panel of judges including Meredith Fuller, Quarry Managing Director, Vlado Jokic, Co-founder of Footloose Cames, InsightNG, and Snowbird.aero, and Susan Motkaluk, former CEO of Southbridge Development Corporation.
Crista Renner, Velocity Business Advisor, and Ben Graham, Problem Lab Researcher, co-hosted last night’s event, with the kickoff was delivered by Larry Smith, esteemed Adjunct Associate Professor of economics at the University of Waterloo and mastermind behind the Problem Lab.
The 2nd place $2,500 award was given to PriveHealth, who presented the healthcare industry problem of cyber attacks on big data, and the 3rd place People’s Choice Award went to FoodLinks who pitched the problem of traceability in food supply chains.