QUT Excolo! pitching competition uncovers market-ready inventions
An innovative cancer therapy has won the QUT Excolo! Pitching Competition for 2023.
The Grand Final of the competition was held on Thursday 23 November at QUT’s Room 360, hosted by QUT’s Office of Industry Engagement.
Kimaritec, a QUT spinout company based at the Translational Research Institute (TRI), was the winning project, pitched by Associate Professor Sally-Anne Stephenson (pictured above (right), with Dr Erin Rayment and team coach Dr Patrick Dwyer from the Office of Industry Engagement). The winning entry will receive $100,000 in project investment from QUT’s Industry Engagement Fund to undertake experiments to prove the therapy’s in vivo efficacy as part of preclinical trials.
Bovotica, which is producing a synbiotic technology to reduce methane emissions in cattle, was the runner-up and a lung cancer diagnostic and therapy to reduce drug resistance was the “People’s Choice”. Each of these projects received $50,000 in funding.
Specifically, Kimaritec design, test and develop inhibitors of a modification to proteins that supports their cancer promoting functions. By blocking these protein modifications, Kimaritec aims to provide new small molecules suitable for the treatment of cancer.
Each entrant presented a 5-minute pitch to describe how their idea or invention could provide a commercially viable solution to a real-world problem.
According to QUT’s Executive Director of Industry Engagement, Dr Erin Rayment, the competition is designed to provide exposure for impactful research happening at QUT, and develop the ideas for potential investment and commercialisation.
“Each of the teams is coached by our Industry Engagement staff, who help to refine the ideas and the pitch for a commercial audience,” said Dr Rayment.
The remaining finalists presented an underwater adhesive for environmental and industrial applications, an AI-based counselling app to provide support for people experiencing grief, and a non-invasive tool to assess cardiovascular disease.
The pitches were judged by industry experts in marketing, new venture development and commercialisation – Nick Capell (Investment Director, QIC), Andy Jane (Founder, Talu Ventures), Melissa Lemberg (Group Account Director, Rowland) and Dr Alisa Selimovic (Senior Investment Manager - Life Sciences at IP Group).
For more information, contact industry.engagement@qut.edu.au
