UNSW recognised in prestigious global competition
A young team of entrepreneurs from the University of New South Wales has been recognised at an international business competition for their new and innovative treatment for dry eyes.
Wednesday, 23 November 2011
The team, Pluvision, competed in the Idea to Product (I2P) Global competition in Sweden. Pluvision was awarded first runner up in the Life Science division.
Pluvision's success comes after its recent win in the
Peter Farrell Cup Entrepreneurship Competition, hosted by the
Centre for Innovation and Entrepreneurship (CIE) at the Australian School of Business. The Cup provides students with the opportunity to bring their business ideas to life by pitching to a panel of experts from the Sydney entrepreneurial community.
The Idea to Product (I2P) Global competition is an early-stage technology commercialization planning competition which aims to bridge the gap between university research and business plan competitions. The I2P competition focuses on the education and creation of the next generation of technology entrepreneurs.
Pluvision was one of only five teams to be selected to compete in the Life Science division finals. It was the first time Australia has been represented in the competition.
Team members Eric Wei and Niklas Olsson pitched Pluvision's business idea to a judging panel of community entrepreneurs, investors, business leaders and senior service providers.
"As the first team to ever represent UNSW and even Australia in the Idea to Product global competition, I was delighted to have this opportunity to compete, to network and to be an ambassador for Australian researchers. I would like to acknowledge the Brien Holden Vision Institute for providing their support," says Wei.
"The competition highlights innovation worldwide and has given me many opportunities. I would like to send a special thank you to all the people who supported the team on its way to success," says Olsson.
Pluvision's treatment for dry eye syndrome is based on the PhD research of Wei, from the Brien Holden Vision Institute. According to Pluvision, there is currently no effective treatment for this syndrome on the market.
The Pluvision team was awarded $5000 to fund their project. They will now go on to compete in the John Heine Entrepreneurial Challenge at the beginning of December in Brisbane.