Announcing The Next Big Idea Contest Winners
The Results are in! Seven well-deserving companies have been selected as the winners of The Next Big Idea Contest, a nationwide tech competition for Lithuanian businesses, hosted by Pace Global Advantage (PGA) and DMZ from Ryerson University.
The seven Lithuanian entrepreneurs that have been selected to come to Canada for a week of training and networking are: Vytenis Pakėnas (isLucid), Adomas Klimantas (Uvireso), Urte Steikuniene (Feetsee), Simonas Stankus (Inbalance), Monika Paule (CasZyme), Donat Ponamariov (Viezo), and Arnas Karužas with Dovydas Matuliauskas (Ligence).
A lengthy process of deliberation revealed several outstanding contestants who all show great potential for technological advancement. We would like to congratulate our winning applicants of contest. Here is a glimpse into the winning companies.
A Lithuanian company specializing in machine learning through transcription. IsLucid transcribes verbal communication in meetings and uses machine learning to automatically add tasks to employees’ schedules, saving time and eliminating the need to write minutes after a meeting, and just allowing people to focus on the meeting rather than on taking notes. IsLucid’s software is compatible with several popular project management platforms such as Microsoft Teams and Jira, proposing actionable items as it listens in on your video calls, and with the user’s approval, storing these in the meeting minutes, as well as updating your calendar. Another benefit of transcribing meetings is that they can be translated in real time, and the company also takes great care to respect its users’ privacy. isLucid helps save time on follow-up communications, work assignments, and descriptions. isLucid is a productivity hack that automates trivial chores so you can focus on the big stuff.
A Vilnius-based Lithuanian firm that employs UV light to disinfect indoor settings automatically removing 99.97 percent of all bacteria/pathogens. Simply place their UV light in a room, and bacteria, fungus, mould, and other harmful risks will be destroyed. They also have a ‘disinfection robot,’ which functions like a UV lamp installed atop a Roomba and disinfects a greater area. The entire disinfection procedure only takes 10 minutes and delivers 90% safety, resulting in a 50% reduction in airborne infections among workers. UV light also functions as a deodorant and refresher by destroying bacteria, thus it may be used in restrooms. Sterilizing conveyor belts and disinfecting medical environments are two further applications amongst many more.
A Lithuanian business in the healthcare sector that specializes in diabetes patient foot monitoring. It has AI capabilities and is simple to use. The product contains a trademarked stand and thermal device that monitor and measure changes and the status of the patient’s feet, as well as a mobile phone and tablet/laptop software that collects data for patient self-monitoring and contact/relays message to the physician and care team via alerts. With 95% accuracy, advanced algorithmic technology identifies important changes on the sole of the foot, notifying patients and clinicians.
The numbers speak for themselves; It is believed that Feetsee prevents 81% of diabetic foot ulcers and 70% of the problems that come with them. Emergency visits are expected to be reduced by 52%, with savings attributable to early treatment anticipated at 23% and prevention at 77%. Feetsee’s FDA registration was a milestone for the company as there are no other diabetic foot AI monitors like it on the market.
An innovative Lithuanian business in the field of electric vehicle charging infrastructure. Inbalance designs, builds, and runs sophisticated electric vehicle charging stations. Their approach focuses on energy efficiency and helps fulfil the increased demand for electric vehicle charging without requiring any changes to the current power grid infrastructure. The Inbalance future-proof EV charging concept is based on the idea of being ready for widespread EV adoption and easy scaling, guaranteeing a quick and sustainable growth of a community-based public charging network. With a growing market of electric cars, and Prime Minister Trudeaus proposal of instituting a mandate that at least 20 per cent of new cars offered for sale by 2026 have zero emissions, there is a huge market for Inbalance.
CasZyme is a Lithuanian startup created in 2017 with the goal of developing new creative applications and providing high-quality research in the field of CRISPR-based Molecular Tools. CRISPR is a group of DNA sequences present in prokaryotic species’ genomes. CasZyme adds significant value to researchers and businesses by discovering and assessing novel CRISPR-Cas (‘CRISPR-associated protein’) gene editing tools. CasZyme started a multiyear relationship with DuPont Pioneer in its first year to find and characterize new CRISPR-Cas nucleases. CasZyme is also working on GMO plants alongside agricultural giant Corteva. CasZyme collaborated with Novel England Biolabs, the industry leader in the discovery and manufacture of enzymes for molecular applications, in 2019 because its focus is on generating new CRISPR-cas9 proteins and altering existing defined Cas9 proteins. The goal of this partnership is to investigate the many CRISPR-Cas9 systems, characterize novel CRISPR-Cas nucleases, and commercialize them.
Viezo is a Lithuanian company with a fundamental technology called vibration energy harvesting, which turns vibrations into useable electricity for powering IoT devices. For greater efficiency and safety, the company integrates it with their own low-power sensors to monitor the bogies of freight and passenger wagons. Viezo is seeking for methods to grow into a vast North American market and assist local trains in being far more dependable and efficient.
This Lithuanian company generates heart ultrasound pictures using deep learning technology. Their goal is to employ machine learning algorithms to determine functional and structural aspects of a person’s heart using more accurate ultrasound pictures. As a result, the focus is on improving measurement accuracy and reducing human error in detection and diagnosis.
The DMZ is a renowned startup incubator situated in Toronto, Canada, with internationally accessible programmes, providing the tools needed to establish, launch, and scale highly influential enterprises to the next generation of leading tech entrepreneurs.
Ranked top tech incubator in the world, DMZ equips startups with everything they need to develop and prosper as global businesses, including access to funders, target consumers, industry-leading experts, and community events.
DMZ has local operations in 10 countries, DMZ founders are based in 40 countries, and DMZ has helped support over 1,000 startups worldwide.
Pace Global Advantage
Pace Global Advantage (PGA) serves multinational corporations seeking to access the North American market. PGA provides comprehensive services to help companies invest in their future. The Pace Global Advantage is a custom-tailored and full-service experience that makes it as easy as possible for you to live and grow alongside your business, from investment and financial counselling to lifestyle and migration services.
Founders will engage in workshops, programme-led sessions and one-on-one meetings with tenured industry experts. During the one-week programme, our winners will gain knowledge of Canada’s tech environment, funding options, legal landscape, and HR practices. They’ll meet with our Entrepreneurs in Residence on many occasions to get advice on how to build the company in North America.