MEET THE MIT $100K ACCELERATE FINALISTS
Join us at the MIT $100K Accelerate Finals on February 10th @7pm.
This is the night where eight of the brightest startup teams across MIT will present their ideas in front of a live jury to compete for a $10K grand prize. Accelerate is the second of three competitions hosted by the MIT $100K Competition. It focuses on turning business ideas into reality by developing prototypes and testing market opportunities over the course of the winter.
The event will be hosted by Master of Ceremony David Chang, entrepreneur & angel investor, as well as feature a Keynote Address from Donna Levin, the Co-Founder of Care.com. As Co-Founder of Care, Donna helped lead the growth of its operations and eventually brought the company to IPO.
The event will be full of excitement and inspiring ideas. We hope to see you there.
Meet the Finalists:
Last Wednesday our 20 Semi-Finalists pitched their ideas behind closed doors to two panels of judges. Below are 8 that were chosen to move forward to the Accelerate Finals.
AquaPower: In many low-income countries aquaculture is a large and growing industry. For example, in Bangladesh it comprises over 5.5% of GDP. Dissolved Oxygen is crucial for fish growth. Our device helps increase dissolved oxygen in the water without the use electricity. Using our device and increasing dissolved oxygen can result in a 25% increase in income for the farmers as well as less risk of disease and fish deaths while reducing amount of feed required by 15% resulting in increased earnings of ~30%.
Astraeus Technologies: Lung cancer is the #1 cancer killer worldwide and 8-9 million Americans are eligible for annual screening. Current screening protocols cost billions of USD annually and are inaccurate and harmful. Our solution, the L-CARD, detects gases unique to the breath of lung cancer patients with the aid of a smartphone. This noninvasive sensor costs less than $1 to produce and can be shipped inside an envelope. We would sell the L-CARD to clinics and hospitals, which would be reimbursed by insurance.
De-Ice: De-Ice aims to permanently change the way airplanes are de-iced. Every year, the airline industry spends over $7 billion and 1.4 million man hours to remove ice from airplanes. To make matters worse, they employ a slow and toxic chemical treatment. De-Ice has developed a technology that uses electric systems in lieu of these harmful chemicals. Our product will be manufactured directly onto airplanes, completely eliminating chemicals, eradicating take-off delays, and reducing costs by 40%.
EarID: Ear infections affect 22m children under the age of 14. It is challenging to diagnose and is the primary reason for physician visits and antibiotic over prescription. EarID is an easy-to-use tool that improves diagnosis sensitivity and accuracy to assist physicians promote "watchful waiting" as a treatment option by simultaneously capturing and analyzing multiple conditions in the middle ear to ultimately reduce over-prescription and save the U.S. healthcare system up to $2B each year.
gomango: Refrigerated transport puts fresh food on the table, as long as you can afford it. The developing world can't, because refrigerated trucks are too expensive to own and operate. But what if we could convert normal trucks into refrigerated ones? Gomango is developing low-cost, low-power refrigerated boxes that will turn Indian trucking companies into high-value cold chain providers. Our solution will prevent food spoilage and expand food choices, driving growth for our company and for India alike.
Good SIRS: Sepsis kills millions of people each year, is the leading cause of death for critically ill patients, and represents a $20 billion market. We invented a technology that removes from the bloodstream the chemical signaling agents that are responsible for sepsis. Animal studies reveal 100% survival in a model of sepsis that is otherwise uniformly lethal. No competing technology can boast such efficacy. Our platform technology is simple, scalable and positioned to transform this lucrative market.
Hive Maritime: The maritime shipping industry carries more than 90% of world trade across 80,000 vessels, yet high operating costs and low revenue means that companies must increase their bottom line to stay alive. Most do not have access to essential modern analytical tools. By forecasting global shipping patterns, Hive Maritime provides data-driven insights to aide voyage planning and route optimization, a $5 Billion untapped market, launching one of the oldest and largest industries into the 21st Century.
Safi Organics: More than $120 billion/year of biomass (e.g. farm, agricultural waste) in remote areas is burned worldwide because there is no economic way to harvest and transport this waste to nearby waste reuse processes. This burning accounts for up to 18% of global anthropogenic CO2 emissions. We have developed decentralized biomass densification technology and proprietary recipes that allow us to turn this waste into a carbon-negative soil amendment that improves farmers' yields by 30% and income by 50%.