MI’s Fazila Seker and Elizabeth Monier-Williams, campaign co-directors for WaveCheck, were featured in a MedCity News article about successfully crowdfunding in the healthcare field.
The article, in MedCity News‘ Hot Topics section, questions whether a crowdfunding campaign needs to reach its funding goal to be deemed successful.
Seker and Monier-Williams completed an Indiegogo crowdfunding campaign in December for WaveCheck, a clinical technique developed to let women and men know if their breast cancer chemotherapy is working within weeks of beginning treatment instead of months later when treatment has already ended.
Here’s an excerpt from the article:
Fazila Seker, the director of technology and venture development at commercialization agency MaRS Innovation, said that one of the trickiest things about the crowdfunding industry is the notion that these platforms have an established crowd that’s lurking around looking for the next best thing.
“You can’t rely entirely on that,” she said. “You need to go out there and do your research and create your own following.”
OtoSim™ device’s integration into medical students’ curriculum to help improve diagnosis accuracy by 44 per cent
A $200,000 donation led by Mr. Ralph Chiodo of Active Green + Ross will help establish a Student Training Fund in Otoscopy at U of T in partnership with OtoSim Inc.
TORONTO, ON (Feb. 5, 2014) — The University of Toronto (U of T) is creating a Student Training Fund in Otoscopy in partnership with OtoSim Inc., thanks to a $200,000 donation led by Mr. Ralph Chiodo, founder of Active Green + Ross. Other donors include some franchisees of Active Green + Ross and others among Chiodo’s friends and associates.
The Halldale Group, a publisher specializing in simulation and training information, covered this funding announcement.
Through the donation, undergraduate medical students will have access to better otoscopy training through the use of the OtoSim™ in their curriculum. Otoscopy, the diagnostic examination of the ear, is one of the most poorly-acquired medical skills in students, general practitioners and pediatricians, achieving a fifty per cent accuracy rate.
Ralph Chiodo’s donation allows OtoSim Inc. to provide 66 otoscopy training units, known as the OtoSim™,to U of T. The devices, which can be networked to facilitate mass training exercises, will help undergraduate medical students to be effectively trained to diagnose ear problems using an otoscope.
Watch how the OtoSim™ can be used in mass training exercises.Nearly 100 second-year medical students voluntarily attended the OtoSim™ training session to better prepare their otoscopy skills for the clinic.
“We are excited to be the first official OtoSim™ mass-training site and thank Mr. Ralph Chiodo for leading the charge on fundraising for this unique learning opportunity,” said Ian J. Witterick, professor and chair in U of T’s Department of Otolaryngology-Head & Neck Surgery.
“A clinical study demonstrated that with only a couple hours of group training, the accuracy of third-year medical students increased from 54 per cent to 78 per cent,” said Dr. Andrew Sinclair, OtoSim CEO and former senior director at MaRS Innovation. “Mr. Ralph Chiodo’s donation will help us to ensure that more medical students graduate with a much higher proficiency in this critical primary physical examination skill.”
Deal led by MaRS Innovation and Innovation York to strengthen Slyce’s mobile image recognition application for retail e-commerce
York’s technology will help Slyce in developing a mobile app that can be used to take pictures of a product in-store, enabling a user to purchase the item from the retailer immediately on his or her smartphone.
TORONTO, Feb. 4, 2014—Slyce today announced that it has acquired a computer vision technology developed at York University that quickly analyzes and aggregates similar images.
Through the acquisition, Slyce also hired former York PhD student, Dr. Ehsan Fazl-Ersi, to lead the integration of the intellectual property into Slyce’s Visual Search Platform as their new head of Research & Development.
Slyce is a premium provider of visual search technology for retailers, brands and publishers. Their platform allows customers to take a picture of real-world products with their smartphone and then find direct or close-matching products from the retailer’s catalogue, which they are able to purchase on the spot.
“Identifying and classifying an object captured within a scene is difficult due to the effects of background clutter, lighting variations and viewpoint changes on the object’s appearance,” says Fazl-Ersi, who designed and developed the technology with his PhD supervisor, Dr. John K. Tsotsos, a professor in the Lassonde School of Engineering’s Department of Electrical Engineering and Computer Science, and a member and former director of York’s Centre for Vision Research.
“This is a much bigger problem for mobile applications where the algorithm’s speed and efficiency are the difference between losing a consumer or making a sale,” says Fazl-Ersi. “Our technology will provide higher accuracy when quickly identifying retail items so that consumers can choose among similar items according to style, colour or pattern using a mobile device.”
The researchers partnered with MaRS Innovation and Innovation York, York’s commercialization office, to file patent protection on the initial technology, develop a commercialization plan, secure grant funding, facilitate business development meetings and negotiate the resulting transaction.
The Bioprinter project, a three-way initiative from MaRS Innovation, the University of Toronto and Sunnybrook Health Sciences Centre, was featured on Canada AM on January 29 during a segment with…
The radio segment, called “Crowdfunding Science,” aired on January 25, 2014 and discussed the lack of funding researchers have access to for commercialization, making it harder to advance research that could be helping people in a variety of industries.
WaveCheck’s crowdfunding campaign is an example of how MaRS Innovation gets creative when traditional funding channels take too long or run dry, speeding up the commercialization process.
The article by Joseph Czikk, BetaKit’s managing editor, is part of a series on Canada’s most promising start-up accelerators and the people who make them successful. Czikk highlights UTEST “as one of the most value-packed programs in the entire country” and credits the calibre of applicants and ideas to the program’s requirement to have at least one co-founder affiliated to the University of Toronto.
UTEST is now accepting applications for the program’s third cohort. Those interested should watch for updates through MaRS Innovation and the University of Toronto, or contact UTEST co-directors Mike Betts and Kurtis Scissons for more information.
UTEST success stories Crowdmark, Granata Decision Systems and Whirlscape reflect the scope of ideas that come through the program and how the grow to address needs across many industries.
2013 was an exceptional year for MaRS Innovation. Here are the top 10 news stories from our commercialization portfolio. 1. MaRS Innovation secures a $15 million CECR funding extension In January,…
Indiegogo campaign raised $53,390 from over 500 worldwide donors
WaveCheck co-inventor, Dr. Gregory Czarnota, appeared on CTV National News on December 15.
CTV National News featured WaveCheck’s crowdfunding campaign on December 15 in a report by Avis Favaro. The report included an interview with MaRS Innovation’s President and CEO, Dr. Raphael Hofstein (at the 1:37 mark).
William Tran, a researcher associated with the project at Sunnybrook Health Sciences Centre, was also interviewed on Canada AM on December 16.
WaveCheck, which closed its campaign December 4, was invented by Dr. Gregory Czarnota of Sunnybrook Health Sciences Centre and Prof. Michael C. Kolios of Ryerson University. WaveCheck uses ultrasound technology to show people with breast cancer if their chemotherapy is working within weeks.
While the Indiegogo campaign has concluded, Sunnybrook Foundation is now accepting donations flagged “WaveCheck” on behalf of the researchers through its website.
At campaign close, WaveCheck ranked in the top 0.005 per cent of health-related campaigns on Indiegogo, and was covered by CBC television and Metro Morning, theToronto Star, Sing-Tao and MedCity News.
Technology developed by Dr. Stuart Berger at UHN is first project funded through partnership TORONTO, Dec. 11, 2013 - MaRS Innovation, a Centre of Excellence for Commercialization and Research, has announced…
MaRS Innovation’s commercialization process helps inventors move their transformational ideas from the lab bench to the market.
Johnson & Johnson Innovation and its affiliate Janssen Inc. in Canada announced new collaborations with two Canadian early-stage drug technology development centres, Montreal-based NEOMED and Toronto-based MaRS Innovation, to identify and advance promising bio/pharmaceutical technologies that have the potential to impact human health.
Through these collaborations, technical experts from the Johnson & Johnson Innovation Center in Boston, Massachusetts will work with NEOMED and MaRS Innovation to identify investment opportunities emerging from well-validated scientific research discoveries within their communities of academic institutions and biotechnology companies.
