UK companies lead finalists for European spin-out awards

University spin-outs from Imperial College London, University College London and Edinburgh Napier University lead a list of 12 entrepreneurs and spin-out companies selected to compete in the ACES 2012 Academic Enterprise Awards (ACES) on 21 February in Brussels. Entrepreneurs from German and Swiss universities also made a strong showing in the finalist group, with two from each country advancing to the final competition.

A selection committee of leading industry officials, academics and venture investors selected finalists from universities across Europe to enter the final round of the four-year-old awards competition. The UK start-up finalist based on technologies developed at Imperial College London is Evo Electric, the finalist from University College London is Endomagnetics Ltd; and the finalist from Edinburgh Napier University is Inquisitive Systems Ltd.

They join nine other finalists from a wide range of European universities to compete for top prizes in the fourth annual ACES awards. Other institutions from which finalists were chosen are the Swiss Federal Institute of Technology Lausanne (EPFL), the Swiss Federal Institute of Technology Zurich (ETH Zurich), Technische Universität Berlin (TU Berlin), Bauhaus-University of Weimar and University of Cologne, University of Antwerp, KTH Royal Institute of Technology (Sweden), Delft University of Technology, Technical University of Lisbon and Budapest University of Technology and Economics. The competition is open to entrepreneurs across the European Union and countries affiliated with the EU’s Framework Programme 7 for research.

The high quality of finalists underscores the ability of Europe’s researchers to find creative ways to get their discoveries out of the lab and into the marketplace – even in the midst of financial crisis.

The ACES awards programme was created in 2008 by the Science|Business Innovation Board AISBL, a not-for-profit scientific association formed by Science|Business and business schools INSEAD and ESADE to promote innovation in Europe. The finalists will present their companies to the jury on 21 February 2012 in Brussels, at ‘Start up! The European Entrepreneurship Summit,’ a conference organised by the Innovation Board in cooperation with the European Institute of Innovation and Technology. At the same event, the EIT will also present nine finalists for its own EIT Awards for entrepreneurship.

This year’s ACES prizes include the Microsoft Award for cloud computing, and the Life Sciences Award for university spin-outs built around pharmaceutical, medical devices, diagnostics and e-health technologies. Other prize categories: the Materials and Engineering Award for spin-outs based on research in new materials, chemicals or engineering sectors; and the Young Entrepreneurs Award for company founders under age 30 and affiliated with a university or research institute. Sponsors for this year’s awards include the Innovation Board, Microsoft and Janssen Pharmaceutica.

The full list of finalists chosen include founders and leaders of the following organisations (in alphabetical order, by prize category):

For the Microsoft Cloud Computing Award:

• Inquisitive Systems Ltd., Edinburgh Napier University. Developing a new generation of cyber security software and services to be deployed in the cloud to protect enterprises from IT fraud.
• Mendeley, Bauhaus-University of Weimar, University of Cologne. Devised a desktop tool to extract information from research papers automatically, creating the first global research collaboration platform and database.
• Tri-Vizor, University of Antwerp. Logistics network orchestrator that enables neutral partnerships to bundle the shipment of goods. Its cloud-based control tower synchronizes freight flows across multiple supply chains in real-time, offering shippers radical gains in cost and sustainability.

For the Life Sciences Award:

• Brighter AB, KTH Royal Institute of Technology, Sweden, and Stockholm School of Economics. Designed a self-care tool for diabetics which reduces the number of elements needed for routine insulin injections from five to one and improves accuracy and record-keeping.
• Endomagnetics Ltd, University College London. Created a hand-held probe for identifying the “sentinel” lymph node biopsies in breast cancer patients using advanced magnetic sensing technology and nanotechnology.
• MO989 Holding B.V., Delft University of Technology. Developed a new chemical-based process for the production of medical radioisotopes including 99MO, a decay product used in medical diagnosis. 99MO risks being in short supply due to the ageing of reactors that normally produce it.

For the New Materials and Engineering Award:

• Evo Electric, Imperial College London. Designs and integrates high-torque electric motors and generators based on axial flux technology, providing benefits in torque and power density, efficiency and cost.
• Optotune Inc. ETH Zurich. Created a range of tunable optical devices that imitate the principle of the human eye. Its adjustable-focus tunable lens could offer improved performance in future mobile phone cameras, machine vision, laser processing, professional lighting and laser projection.
• Resonic Gmbh. Technische Universität Berlin (TU Berlin). Developed measurement systems for the complete inertia properties of mechanical structures such as trucks and ship engines.

For the Young Entrepreneur Award (under age 30):

• Abionic Ltd, Swiss Federal Institute of Technology Lausanne (EPFL). Created a diagnostic tool for physicians to assess allergies quickly and accurately during an office visit, avoiding lengthy lab tests.
• Cell2B, Technical University of Lisbon. Developing cell therapies to avert organ rejection, particularly aimed at treating graft-versus-host disease in patients with bone marrow transplants.
• Clariton Ltd, Budapest University of Technology and Economics. Targets hospital-acquired infections (HAI) with a new hand-hygiene system that measures the effectiveness of an individual’s hand washing pattern.