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November 12, 2008

Healing Tech Wins Biz Plan Contest

A company with patented technology that fosters quick bone healing was named the winner of the 2008 WPI Venture Forum Business Plan contest.

OsteoInvent was selected out of four finalists, which each presented their ideas at the contest finals Tuesday night. Two judges - Dina Routhier, principal of the Massachusetts Technology Development Corp. and Peter Aranow of the Boynton Angels investor group - helped select the winner with input from the audience.

OsteoInvent is led by Giuseppe Intini, who is a research fellow at the Harvard School of Dentistry, and Emauele Ostuni. The winning prize included $19,000 in cash and in-kind services.

OsteoInvent has patented a kit called CS-Platelet, which causes "accelerated healing" by using "a patients' own blood along with a proprietary composition to stimulate bone growth and recovery." CS-Platelet was designed for use in a variety of health procedures, including hip replacements, bone fractures, spine fusions and dental implants.

The three other finalists included: Hy-SyEnce, which has a fuel cell technology that can be applied to waste pollution mitigation; eVisioner, which has a web-based software product for managing teams; and iRelai, which is developing a network of retail outlets for package delivery and pick-up.

Gina Betti, administrative director of the venture forum, said that the contest brought out "a great crop of businesses this year."

In addition to the four finalists there were 14 semi-finalists with ideas from a range of industries and applications, including a web-based educational software product and a direct-to-consumer genetic testing service.

The WPI Venture Forum Business Plan Contest has been active since 1992 and was started to honor and reward established or start-up technology companies in the Northeast that provide innovative products and services.

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