On Thursday, June 28th, the Finals & Awards Ceremony was held at the NCSR “Demokritos”, and the MITEF Greece Startup Competition 2018 concluded with the selection of the 3 winners: 1st Prize – AJM Med-i-caps, 2nd Prize – Innate Repair and 3rd Prize – Augmenta (previously Agile Agriculture Technologies).
This was the 4th edition of the MITEF Greece Startup Competition, a business acceleration program that aims to identify promising Greek technology startups and to accelerate them to the global market. During an intensive period of workshops and mentoring, all participants had a unique opportunity to improve their business skills, gain hands-on knowledge and valuable input, build their teams, network in Greece and abroad and develop partnerships that will help them further their startup goals.
The competition’s winner, AJM Med-i-caps has developed a technique for easy, accurate and safe, intestinal screening for precancer/early stage cancer detection. The company has designed an electronic fluorometric capsule that works in combination with an injectable fluorescent probe that highlights precancerous cells /early stage cancers. This product is expected to revolutionise the way men and women are screened for small intestine and colorectal cancer.
The 1st runner up, Innate Repair has intellectual property on novel cancer therapeutics with a starting focus on aggressive brain tumors. Their therapeutics kill the cells that evade current therapies and cause recurrence. Innate Repair’s therapeutics include novel treatments and already FDA-approved drugs to be repurposed, meaning they can move to the clinic fast. The company seeks to further de-risk their therapeutics, license them out, and focus on the next generation of Innate Repair treatments.
The 2nd runner up is Augmenta, and their first product, “Field Analyzer”, was built from 5 farmers and engineers for the farmers who want to apply the optimal amount of fertilizer and pesticide, in real time, to every inch of their farm and eventually make 17% more revenue than they do today. Augmenta’s patent pending and scientifically validated solution, is a device which can be easily mounted to any tractor and is based on machine vision and learning, while collecting, analyzing and eventually given back in a simple visualized way to the farmer.
The winners will be awarded a combination of cash prizes offered by The People’s Trust as well as in-kind services provided by EY, KornFerry | HayGroup, Dracopoulos & Vassalakis LP, Regus and Sylipsis.
Vassilis Papakonstantinou, Chairman of MITEF Greece, welcomed the 280 attendees of the event by highlighting that “Our tech startup community in Greece is still nascent but it is maturing at an accelerating pace. We have skilled engineers and scientists, we have a healthy research output, we have the entrepreneurial DNA, and the world has so many problems technology can solve. We need to focus more on technology transfer and strive to bring more of this output to the global market. This is where MITEF Greece can help the most by bringing global knowhow and global networking to all members of the Greek ecosystem. This is how we can make Greece a technology hub by 2021. This is how we can make technology the next shipping for Greece.”
Furthermore the invited speakers discussed the opportunities that innovative technology creates:
Nicholas Negroponte, Co-founder & Director, MIT Media Lab did the honor of opening the event by sharing his views regarding the challenges and opportunities of tech entrepreneurship based on his experience from the MIT Media Lab as well as his involvement as an investor to more than 40 startups.
Kate Marie Byrnes, Deputy Chief of Mission, US Embassy in Athens, focused her remarks on the US Embassy’s collaboration with the MIT Enterprise Forum Greece, the innovative ideas she has seen among the competition teams and the opportunities Greece has for economic growth through tech entrepreneurship.
Michael Tzannes, Technology Entrepreneur, shared his experience on the subject matter of how Greek startups can make it to the US and what are the challenges an early stage startup has to face.
With this opportunity, we would like to specially thank the 82 judges, 55 mentors and 20 coaches & speakers that made this competition possible through their direct support. Moreover, MITEF Greece would like to express its gratitude to all the organizations and individuals that supported MITEF Greece Startup Competition 2018! Their generous contribution helped make its vision a reality by helping young Greek entrepreneurs further their startup goals:
The Hellenic Initiative, our Gold Sponsor.
The US Embassy in Athens, Greece for supporting the competition’s educational program.
The People’s Trust supported this year’s MITEF Greece Startup Competition by providing grants to the 3 winners of the competition. The organization aims to contribute to the further development of the tech startup ecosystem.
Our strategic partners: EY, Microsoft Hellas, POTAMITISVEKRIS, Korn Ferry Hay Group, Regus, Sylipsis, Marketing For Tech and Dracopoulos & Vassalakis, who led the workshops, provided services to MITEF Greece and the participating startups and will offer in-kind awards to the winners.
Athenaeum InterContinental Athens, our hospitality sponsor.