The Elevator World Tour competition closed last night after 100 startups competed for the best elevator pitch with one winner emerging. Come and meet him
Yesterday (Wednesday) was the first International Startup Festival, Elevator World Tour event held in Israel where 100 select startups rode up or down one of Tel Aviv, Israel’s famous Azrieli Towers’ elevators, during which time entrepreneurs had the chance to rattle off a one minute elevator pitch for their startup idea.
Judges, the vast majority of whom are investors, listened to the entrepreneurs and awarded the winner with both instant recognition and a $100K investment from a group of 10 venture angels.
The Big winner
The big winner of the competition was MobileOCT. As part of winning the competition and in addition to receiving investment, MobileOCT earned the opportunity to pitch one more time at the international competition to be held this coming July in Montreal, Canada.
MobileOCT has developed a device that can detect cervical cancer in women in its early stages and effectively speed up diagnosis and time to treatment. According to company data, cervical cancer is the leading cause of mortality in women of developing countries with 85% lacking access to tests and scans.
The device includes a compound lens capable of image analysis that improves contrast in the outer layer of the epithelium where cancers form and characterizes its composition enabling for the building of 3D models of the tissue.
The device can be added to endoscopes and can identify cancers in skin, GI, oral cavity, and more.
Startup powerhouse proves itself
Philippe Telio, founder and producer of the Elevator World Tour said that the team was impressed with the participating startups in the competition, especially the winner and those who managed to reach the final. He added that Tel Aviv has proven itself to be one of the leading startup powerhouses in the world and he’s looking forward to seeing how MobileOCT will grow and develop over time.
Ariel Barry, CEO of MobileOCT made a statement that he and his team were excited and worked very hard to pull off the win. He explained how tremendously gratifying it is to receive this recognition from key players in the investment community. Barry said the prize money will enable the company to identify cervical cancer in the early stages so that they can protect hundreds of thousands of women all over the world and help to prevent many needless deaths, each year.
Eight additional companies made it to the finals including Bablic, DOVe, Fitfully, Oggii, Passion Ant, Push Pic, Take & Make and Inpris. Tel Aviv was only the second city in the world to participate in the Canadian competition whcih debued at the CN Tower in Toronto. Upcoming cities include Rio de Janeiro, New York, Barcelona, Paris, Berlin, Dubai and Santiago.