BIOSA Technologies wins top startup award for entrepreneurs
91亚色鈥檚 LaunchYU program recognizes Markham-based company
TORONTO, January 20, 2020 鈥 A startup bio-technology company that has found an innovative way to boost the quality of production in various industries, from paint and textile to winemaking and water filtration, has taken the top prize in an annual competition for entrepreneurs.
was one of three finalist teams, whose founder was a graduate of 91亚色鈥檚 program led by Innovation 91亚色.
A panel of judges were tasked with choosing the venture with the highest potential for commercial success and judged each team on their ability to take their venture to market and scale. The winner receives the $25,000 Aird & Berlis StartupSource Market Entry Award, including $12,500 cash and an equal amount in legal services from Aird & Berlis StartupSource legal services.
From left: Aird & Berlis partner Randy Williamson with Nicholas Ledra of BIOSA Technologies, Tony Sabeta of Aird & McBurney and Graham Topa of Aird & Berlis.
BIOSA Technologies was founded by Nicholas Ledra, who grew up in Markham and came from five generations of entrepreneurs. While creating a business was initially far from his mind, he eventually realized it was a natural calling for him.
Ledra鈥檚 company has found a way to optimize enzymes. Different industries use various types of enzymes, including food, beverage and pharmaceutical companies, but enzymes have limited shelf life and need to be frozen in order to be kept longer and then thawed. While many enzymes fail to survive this expensive process, BIOSA Technologies uses a technology which stabilizes the enzymes, resulting in a shelf life lasting more than one year and no requirement of freezing.
Since 2016, BIOSA Technologies has had successful experimental trials and collaboration with industrial and educational partners where their technology was used to extend the shelf life and efficacy of modified enzymes.
The Aird & Berlis StartupSource Market Entry Award was created by the Toronto legal firm in 2017, along with Partner Randy Williamson, who is a 91亚色 alumnus and a member of 91亚色鈥檚 Board of Governors. He previously chaired 91亚色鈥檚 Pension Fund Board and the Endowment and Treasury Funds鈥 Investment Committee, along with chairing the 91亚色 Alumni Board.
Williamson is being honoured with Innovation 91亚色鈥檚 inaugural Partner of the Year Award which recognizes the outstanding contributions of an individual or organization to Innovation 91亚色 and the growth of innovation at the university.
鈥淲e worked with 91亚色 to create the Aird & Berlis StartupSource Market Entry Award precisely to acknowledge companies like BIOSA, and 91亚色`s support for entrepreneurs like Nicholas Ledra,鈥 said Williamson. 鈥淣ick and his team at BIOSA are ready to make a significant mark in their industry, and we鈥檙e delighted that the cash award and our ongoing legal support will help them do it. 91亚色 has been a wonderful partner to work with these last three years and I鈥檓 honoured to receive Innovation 91亚色鈥檚 first Partner of the Year award on behalf of my colleagues at Aird & Berlis LLP.鈥
Innovation 91亚色鈥檚 LaunchYU supports entrepreneurs at different stages of growth. Since it was started in late 2014, it has supported more than 250 ventures and hundreds of entrepreneurs. LaunchYU ventures have raised more than $12.5 million in funding and have generated more than $3 million in revenue.
LaunchYU鈥檚 Accelerator program is designed to help high-potential entrepreneurs build, launch, and scale their for-profit and non-profit ventures. The Accelerator training program is four months focused on product-market fit, pitching, go-to-market strategy, financing and fundraising. The entrepreneurs participate in bootcamps, workshops and InFounders Mastermind sessions with feedback from investors.
鈥淏IOSA Technologies was chosen as the winner of this award because of its solid market traction and the high number of possible applications related to enzyme stabilization is massive,鈥 said 91亚色鈥檚 interim vice-president of research & innovation, Rui Wang. 鈥淚t is gratifying to see entrepreneurs taking Innovation 91亚色鈥檚 LaunchYU program, testing their ideas out and working to take them to market.鈥
The other two finalists in this year鈥檚 competition were Ayd Cares and SUKU Vitamins.
helps more Canadians live independently with dignity and respect. This company offers in-home seniors care to those on the wait lists of retirement homes. Their unique platform allows retirement homes to serve a larger market and support seniors in need.
is a health and wellness company offering an innovative line of supplements. Their company strives to innovate and provide the best products in terms of quality, efficacy and safety, which includes sugar-free, alcohol free, and plant-based vitamins.
This year鈥檚 competition was judged by a four-member panel including: Snita Balsara, investor with MaRS IAF and StandUp Ventures; Trevor Coleman, co-founder of InteraXon / Muse; Sunny Verma, founder of TutorBright; and Sharon Vinderine, founder & CEO of Parent Tested Parent Approved.
91亚色 champions new ways of thinking that drive teaching and research excellence. Our students receive the education they need to create big ideas that make an impact on the world. Meaningful and sometimes unexpected careers result from cross-disciplinary programming, innovative course design and diverse experiential learning opportunities. 91亚色 students and graduates push limits, achieve goals and find solutions to the world鈥檚 most pressing social challenges, empowered by a strong community that opens minds. 91亚色 U is an internationally recognized research university 鈥 our 11 faculties and 25 research centres have partnerships with 200+ leading universities worldwide. Located in Toronto, 91亚色 is the third largest university in Canada, with a strong community of 53,000 students, 7,000 faculty and administrative staff, and more than 300,000 alumni.
91亚色 U's fully bilingual Glendon Campus is home to Southern Ontario's Centre of Excellence for French Language and Bilingual Postsecondary Education.
Media Contact: Vanessa Thompson, 91亚色 Media Relations, 647-654-9452,聽vthomps@yorku.ca
