Tie Quest

[chris macrae]

TiE Toronto is an offshoot of the Silicon Valley-based TiE Global. Originally dedicated to fostering entrepreneurship among professionals and executives with roots in the Indus region, the Toronto branch"s mandate has expanded beyond its South Asian origins to more broadly represent "Talent, Ideas and Enterprise." NYTimes Blog 2011 Network of Indian Entrepreneurs Now Backs Start-Ups

Toronto winners 2012

Simple Systems Inc. is a privately held, early stage medical technology company located in Mississauga, Ontario. Simple Systems will commercialize RECLAIM, a new class of functional electrical stimulation therapy that promotes the restoration of voluntary movements such as reaching, grasping and walking in individuals paralyzed by stroke, spinal cord injury (SCI) or traumatic brain injury. The efficacy RECLAIM is supported by randomized controlled studies in both stroke and SCI patients. RECLAIM is the first therapy to promote significant increases in self-care independence in severe stroke and SCI individuals, thereby reducing the need for assistive care and reducing long term care costs. Simple Systems anticipates launching the RECLAIM treatment in Canada during Year 2 and expects to generate over $40 million in sales and achieve cash flow positive during the 3rd year of operation.

In addition to being declared the winner of TiEQuest 2012, Simple Systems was also awarded the Best Intellectual Property Award for this year.

The second place winner iGuiders Inc. was also the winner of TiEQuest Ohio 2012. iGuiders® has built a Web and mobile guided selling platform that expedites online and offline purchases by providing robust decision support on products & services. Trends show that hundreds of Billions of dollars are being lost online because searching online is such an independent experience yet people still need expertise in the purchasing process to make decisions. iGuiders” platform transfers the success of an in-store purchase of working with an expert into the online world which solves this multi-billion dollar challenge. The platform is so robust that Guiders can be automatically generated and optimized for clients, resulting in profitable recurring revenue opportunities.

The third place winner was OtoSim Inc., The OtoSim™ Otoscopy Training & Simulation System is a medical simulation platform developed out of the Toronto Hospital for Sick Children (SickKids), the University of Toronto Medical School, andMaRS Innovation for the purpose of effecting positive societal benefits through improved medical education.

We are also pleased to award the New Entrepreneur Award to Chematria Inc., a student team from the University of Toronto. Chematria makes software that helps pharmaceutical companies tell what molecules can become medicines. With Chematria”s molecular docking simulations, pharmaceutical researchers can confidently predict potent molecules for novel biological targets thereby enabling faster drug development, all for a fraction of the price and delay of wetlab experiments.

The other finalist in TiEQuest 2012 was uFluidix Inc., who have developed a disruptive technology (US patent pending) for scalable manufacturing of high-quality yet low-cost lab-on-a-chip platforms.

This year, TiEQuest awarded a new prize category, TiE Institute Participant, to Komodo OpenLab Inc., the team from the TiE Institute”s educational program who fared best in the competition.

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TIEQuest 2011 winner recieves major funding - Rna Diagnostics: Rna Diagnostics Inc. (www.rnadiagnostics.com) is a molecular diagnostics company developing diagnostic tools to assist in the management of cancer chemotherapy. The company’s first product, RNA Disruption Assay™ (RDA™), is a novel test that helps oncologists to rapidly assess the effectiveness of cancer chemotherapy. RDA™ can determine whether chemotherapy is working effectively in the individual patient early in treatment thereby guiding clinical decision making. York Angel Investors (YAI), announced today that an investment syndicate comprised of members of York Angels , the Golden Triangle Angle Network (GTAN), the Georgian Angel Network (GAN), and the Niagara Angel Network (NAN), has closed an investment in the amount of $ CDN 925,000 in Rna Diagnostics Inc. of Toronto Ontario.

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TieQuest 2010 Finalist gets funded - Profound Medical Inc. is a Canada based medical device company developing an MRI-guided trans-urethral procedure for the treatment of localized prostate cancer. The syndicate of investors includes BDC, Genesys Capital Partners and The Health Technology Exchange (HTX).

TieQuest 2010Finalist Shiny Ads gets funding