Organised by Catalyst with headline partner Bank of Ireland UK, INVENT is an annual celebration of the brightest new business ideas in the vicinity, which supports, showcases and rewards the local innovations that have the greatest commercial possible.
INVENT shines a light on the creativity of local entrepreneurs who are at an early stage of developing their business, with 10 finalists chosen to compete for the main prize at a showcase event in the ICC Belfast. The final was attended by a live audience and streamed online after being delivered as an thoroughly virtual event last year.
The overall winner, Stim OxyGen, took home a prize package of £26,000 from a total prize fund of £47,000.
Stim OxyGen’s technology enhances the effects of cancer treatment by overcoming the problem of hypoxia in substantial tumours. It uses oxygen generating nanoparticles to generate transient oxygen within substantial tumours and has the possible to enhance the efficacy of many cancer treatments and transform patient outcomes across the world.
Sian Farrell, co-founder and chief scientific officer of Stim OxyGen, said: “Six years of research and development has already gone into our technology, so we are delighted to have its possible recognised by INVENT. Our team is passionate about changing the outcomes for cancer patients and delivering higher standards of care worldwide.
“Our ultimate goal is to revolutionise cancer treatment and enhance outcomes for patients on a global basis and winning INVENT will help us take the next step towards achieving that goal.”
Kerry McGarvey, programme manager at INVENT, said: “Congratulations to Sian and all of this year’s winners and finalists. It was fantastic to feel the energy from NI’s innovation community coming together again at the live final but also to know it was also being streamed by many more supporters locally and in other parts of the world at the same time.
“The finalists are all companies that are trying to solve real world problems and the variety of different ideas that were covered in this year’s competition has shown, if proof were needed, that innovation continues to be in the DNA of people here in Northern Ireland, which bodes well for the future of our economy.”
Niall Devlin, Head of Business Banking Northern Ireland at Bank of Ireland UK, headline partner of the Invent Awards, said: “Sian and Stim OxyGen demonstrated commitment, passion and belief towards realising their goal in bringing their life changing cancer treatment technology to market.
“They are a chief example of why Northern Ireland is a leading worldwide location for innovation and Life and Health Sciences businesses. Stim OxyGen are making their inventive research a commercial reality, bringing together talented entrepreneurs, world-class research and great collaboration between industry and academia. Seeing such determination and vision from all of the INVENT 2021 participants show what an inspiration our local entrepreneurs are both locally and globally to business and the wider community.”
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