Ontario Centres Of Excellence Inc.

Ontario Centres Of Excellence Inc.

May 18, 2010 15:49 ET

Ontario Centres of Excellence Announces Winners of Ontario's Next Top Young Entrepreneur Start-Up Pitch Competition

TORONTO, ONTARIO--(Marketwire - May 18, 2010) - Avenir Medical, a company that has developed a technology to greatly enhance hip replacement surgery, was announced today as the winner of the Ontario's Next Top Young Entrepreneur Start-Up Pitch Competition. The competition was held as part of Discovery 2010, organized by Ontario Centres of Excellence (OCE) at the Metro Toronto Convention Centre.

Second place in the competition went to Glass Telepresence, while TalkMesh placed third. Glass Telepresence has developed a communications technology that enables advanced face-to-face online interaction. TalkMesh is an instant messaging business with no boundaries for iPhone, Blackberry and other platforms.

As the winners of the competition, Avenir Medical which started at the University of Waterloo, received an $18,000 loan to launch their business venture over the next six months. The second place team was awarded $5,000 of advisory services courtesy of Deloitte Consulting. The third place team will have lunch with Robert Koturbash, the Managing Director of Maple Leaf Angels.

The competition attracted submissions from colleges and universities across the province and was narrowed down to five finalists. The winners were announced and presented their prizes by Colin Anderson, President and CEO, Ontario Power Authority. The pitch competition is organized by the Impact Entrepreneurship Group on behalf of OCE's Centre for Commercialization of Research (CCR).

The five finalists presented their pitches to a panel of five judges from the business and investment community which was moderated by Dr. Mario Thomas, Managing Director of OCE's CCR.

"The calibre of this year's finalists was outstanding," said Dr. Thomas. "Avenir Medical's technology has the potential to greatly improve patient outcomes and reduce healthcare costs because it improves the precision of hip replacement surgical techniques. Winning this competition will give these students the much-needed financial support to help take this exciting venture to market."

Applications for the competition were submitted by teams from universities across Ontario. All teams were required to be enrolled at an Ontario university, college or graduate school at the time of their application or have recently graduated. Teams came from multi-disciplinary backgrounds with at least one member pursuing a degree in business or a related field.

For more information on Discovery 2010 visit www.ocediscovery.com.

About Ontario Centres of Excellence (OCE) Inc. (www.oce-ontario.org)

Ontario Centres of Excellence (OCE) Inc. drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario's global competitiveness. In doing this, OCE foster the training and development of the next generation of innovators and entrepreneurs and is a key partner with Ontario's industry, universities, colleges, research hospitals, investors and governments. OCE's Centres work in communications and information technology, earth and environmental technologies, energy, materials and manufacturing and photonics. OCE is funded by the government of Ontario and is a key partner in delivering Ontario's Innovation Agenda. OCE through its Centre of Commercialization of Research (CCR), an initiative supported by the federal government, also acts as a catalyst which allows innovative business to grow and achieve sustainable, commercial success and global.

About Impact Entrepreneurship Group

The Impact Entrepreneurship Group is Canada's largest non-profit, student-run organization dedicated to encouraging the entrepreneurial spirit amongst youth in Canada and becoming a starting point and catalyst for youth interested in entrepreneurship and leadership. More information is available online at www.impact.org.

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