The Leicester based organisers behind the prestigious MSDUK Innovation Challenge have announced their finalists for 2019 and it includes Leicester based PyroGenesys and Space Platform Technologies.
PyroGenesys is a bio-renewables technology company who have developed a novel and advanced thermal technology called PyroPower. PyroPower converts combustible waste materials including paper and packaging waste, food processing waste and biomass residues into renewable heat, electricity, cooling and lucrative value-added commodities using their patent-pending pyrolysis technology.
Speaking after the announcement, Simon Ighofose, CEO at PyroGenesys said, “Being an MSDUK Innovation UK Challenge Finalist couldn’t have come at a better time for PyroGenesys. Just having the opportunity to reach out to such a distinguished audience is a prize in itself!
“Winning the competition will help PyroGenesys achieve exponential growth in the global off-grid renewable energy market. Our small team desperately needs access to the skills and capabilities provided by Accenture and the high-growth mentoring programme. We envisage that access to the MSDUK network, combined with mentoring support, will propel our growth exponentially and we intend to make full use of everything on offer through this amazing programme.”
Space Platform Technologies are developing a turn-key ‘space as a service’ solution whereby simple and quality assured access to space for shoebox sized satellites (known as ‘cubesat’) enable research and academic missions as well as technology demonstrations.
Adit Shah, CEO at Space Platform Technologies commented on the finalist position saying, “As a finalist I feel extremely proud of all the hard work we put in and it is very encouraging to see that hard work, and our vision being recognised by people outside the space industry.
“This competition will give my company some great exposure and recognition, but more importantly, it will allow us to get the fantastic support that can accelerate our growth and development from a start-up into a sustainable business.”
The announcement came after a full day of pitches from shortlisted Challenge entrants in front of a 12 strong judging panel, drawn from a wide cross-section of UK industry and academia.
Headline sponsor and Challenge judge James Johnson, Corporate Indirect Purchasing Sourcing Specialist at Cummins, commented on this year’s finalist line up saying, “The finalists innovations cover an enormous spectrum of sectors ranging from space technology to portable dishwashers, from pressure-sensing technology to bio-renewable tech that coverts agricultural waste into electricity, and from digital marketing innovations through to cutting edge developments in machine-translation for the medical sector.
“Our finalists are based across the UK including Manchester, Leicester, London, Edinburgh, Strathclyde and Hatfield and 31% are female founders. This year’s finalists also come from a wide spread of ethnic backgrounds including Pakistani, Indian, Caribbean, African, Chinese and Asian.”
MSDUK Founder and CEO, Mayank Shah, added, “MSDUK’s aim is to bring together innovative and high growth Ethnic Minority-owned businesses with global corporations who are committed towards creating an inclusive and diverse supply chain and the Innovation Challenge is just one way we do this.
“The theme for the third year of our Innovation Challenge is ‘Better Ideas for a Better World’ and entrants had the opportunity of entering any of four categories which were Industry 4.0, Healthcare & Wellbeing, Social Innovation, and Sustainable Futures.
“We ended up with 13 finalists rather than our usual 12 which is testament to the sheer diversity of applications in this year’s Innovation Challenge, as well as to the quality of the pitches and the incredible ideas that sit behind those pitches. It was a very tough day for our judges and again demonstrates the wealth of innovative ideas we have here in the UK within the Ethnic Minority-owned business community.”
The national finalists for 2019 are;
- Aries VR
- Loch Electronics
- Space Platform Technologies
The final of the Innovation Challenge 2019 will take place at the MSDUK 2019 Conference & Awards which is being held in London. The Innovation Challenge final takes place on Tuesday 17th September and will see the 13 entrepreneurs presenting their innovative products and ideas to potential investors, buyers and industry experts. After the live pitch three winners will be chosen by a panel of judges who will score finalists on criteria including relevance, quality of innovation and marketing strategy. Challenge prizes include;
- £5,000 cash prize for the Innovation Challenge winner plus introductions to MSDUK’s investor network and workshops
- £40,000 worth of business school scholarships at Ivy League Tuck School of Business for the top four finalists
- £100,000 worth of corporate mentoring delivered via a 12 – 18 month corporate mentoring programme with Accenture and Digital Catapult
- 2-year MSDUK Premium Membership with unlimited access to MSDUK Hub Programmes and events for all 13 finalists
Sponsors for the MSDUK Innovation Challenge 2019 include Headline Sponsor, Cummins and Sponsors Johnson & Johnson, Accenture, EY and Digital Catapult.