Induce Biologics took home the crown at RIC’s Innovator Idol III competition. Sean Peel, Induce’s CSO, was named the winner with a compelling pitch about his company’s innovative technology to help surgeons regenerate bone. Induce has developed a unique process which combines the use of growth factors and biomaterials to stimulate the body to regenerate bone.
The competition was modelled as a hybrid of American Idol and Dragon’s Den. Induce was one of the four finalists that were selected to
pitch to a panel of industry experts. The winner was chosen by the audience. Along with the title, Sean’s company was awarded a trophy and a share of the $40,000 prize. The runner up for the competition was Carmel Vision, a North York company that’s created software allowing users to manage information overload from a single application.
The other two finalist were Isobarex Technologies, a Bolton company that’s developed develops innovative technologies enhancing the detection of radiotracers and expanding their applications in biomedical research and nuclear safety and security; and Rivalries Corporation, a Barrie company that has combined traditional plastic processing technology with its modified intrusion and insert intrusion technology.
“Idol is just one example of how we use creative marketing to connect star innovators with motivated investors,” said RIC executive director Pam Banks. “Because of events like Idol, RIC Centre has become the go-to resource for many early-stage companies who need help to find the best pathway to successful commercialization.”
