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EyeCheck, a company working to provide vision care to millions of people in the developing world, was the biggest winner at the Velocity Fund Finals held yesterday in the Student Life Centre's Great Hall.
Founded by graduates of Systems Design Engineering at Waterloo, EyeCheck is part of the Velocity Foundry. It uses a hardware camera, with which doctors take images of people's eyes and enables them to provide a prescription in a fraction of the usual time. Today's win gives them $25,000 plus the additional $10,000 awarded to hardware or life sciences companies to help cover additional startup costs. Earlier this month, EyeCheck was named one of the top 20 inventions of the year by the James Dyson Foundation.
"Most of the funding will be used to build a robust camera that can stand up to the harsh elements found throughout the developing world," said Daxal Desai, co-founder of EyeCheck. "It will also help us to gather field data at several camps in India where hundreds of people line up to get their vision checked."
During the competition, 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 [Read more].