Two Velocity Science startups and a Science entrepreneur won more than 50K at yesterday’s Spring 2015 Velocity Fund Finals.
Velocity Science company, Black Box Technologies, and Lani, founded by Science and Business student Pablo Eder each won $25K. Velocity Science company Thalo, won the prize for the most innovative idea.
Each company pitched their businesses to a panel of judges representing the investment, startup and business communities.
Black Box Technologies, now known as Arylla, is developing an ink for anti-counterfeit application. Each ink has a unique signature and, once applied, is verified by scanning the object with a phone. The team will use their $25K prize to further app development and image processing, as well as create new nanotechnology ink formulas.
Velocity Science has created the perfect bridge from initial idea to commercialization,” said Perry Everett, co-founder of Black Box Technologies. “It was the take off point for the business.”
Pablo Eder, a fourth-year Science and Business student, is the founder of Lani - a payment and automation system for 3D printers. It enables universities, public libraries and 3D Print Centres to automate payment and manage users, designs and materials. It is also a great way for designers to showcase their work.
The Velocity Fund has helped over 50 companies to date, giving out more than $1 million in funding. I am thrilled that we are once again able to help inspire and support innovation. Today we saw pitches for companies that will be incredibly impactful. Our ability to help these companies start on the path to success is fundamental to our work at Velocity,” said Mike Kirkup, Director of Velocity.
In addition to the $25K competition, 10 teams of early stage startups pitched for three prizes of $5K and access to Velocity workspaces.
Velocity Science company Thalo, won the prize for the most innovative idea. They are building a new display technology to increase the battery life and daylight visibility of mobile devices by using the light that’s already around you.
Velocity Science, a partnership between Velocity and the Faculty of Science, is an on-campus discovery space designed to support students through networking, expert coaching, community-building as well as free access to lab space and instrumentation. It’s open to all undergraduate students at the University of Waterloo.