Innovative Prosthetic Technology Company Wins Top Stephen Young Entrepreneurship Award
The University of Strathclyde has announced the first recipient of an entrepreneurship award created through the largest donation in the history of the University.
PCAD was named the winner of the first Stephen Young Entrepreneurship Award, for his work on lower limb prosthetic fits.
The £ 10,000 prize was billed as the first in a series of awards designed to support emerging entrepreneurs in Strathclyde.
The Stephen Young Entrepreneurship Awards program was created as a major part of a £ 50million donation to Strathclyde by the Dr Charles Huang PhD Alumni Charitable Foundation, Entrepreneur and Philanthropist, which supports the work of the university to transform lives, support the economy and foster entrepreneurship.
The award is presented in memory of the late Professor Stephen Young, former head of Strathclyde’s marketing department and Dr Huang’s supervisor and mentor during his doctoral studies.
The award was announced at the biannual Inspire 100 ceremony hosted by Strathclyde Inspire, the University’s flagship entrepreneurship program, which provides training and entrepreneurial opportunities to every student, staff member and alumnus.
Entrepreneurs presented at the online event to an audience of experienced entrepreneurs, supporters and investors, with the aim of obtaining cash prizes as well as advice and support.
PCAD ™ (Pressurized Computer Aided Design) technology was designed to provide a significant improvement in the way lower limb prostheses are fitted, by combining die-casting technology with advanced computer-aided design scanning. technology for the first time.
The company was started by Dr Anthony McGarry, a senior researcher in the Department of Biomedical Engineering at Strathclyde.
Professor Sir Jim McDonald, Principal and Vice Chancellor of Strathclyde, said: “The gift from the Charles Huang Foundation is already having a profound impact on the already strong culture of entrepreneurship in Strathclyde. The support and advice we provide to new and existing entrepreneurs have benefited enormously from this donation.
“One of the main goals of the Charles Huang Foundation is to foster entrepreneurial skills and bold ideas with a global vision. PCAD is producing technology that can make a positive difference in the lives of many people and is an ideal example of this.
“PCAD is one of the first recipients of the Stephen Young Entrepreneurship Award and we congratulate them on their success. “
Dr Huang said, “We are delighted that the first Stephen Young Entrepreneurship Award has been awarded. This shows that this donation has a significant impact on Strathclyde, not only for the good of the University but for the global community.
“We also congratulate Dr. McGarry on receiving the award; his innovative work will improve the use of prostheses and meet an urgent need of people around the world. We look forward to many more winning the equally valuable entrepreneurship award. “
Dr. McGarry said: “We are absolutely delighted to have received the Stephen Young Entrepreneurship Award for the CADP.
“There are a growing number of amputees, especially in low- and middle-income countries. The World Health Organization estimates that between 35 and 40 million people currently need prosthetics or orthotics services, with only one in 10 people accessing these services due to a shortage of clinicians and clinicians. services, especially in Asia and Africa.
“Current methods of prosthetic fitting are highly dependent on the skills of the clinician and can result in inconsistent fit of the socket, causing pain or degradation of the skin. The PCAD aims to dequalify prosthetic form capture, with the potential to deliver previously untapped markets, improving fit and quality of life for prosthetic users.
“Initially, the project will redesign a prototype suitable for testing in a clinical setting and the funding will be used to undertake an independent gap analysis prior to the redesign. “
Gillian Fleming, co-founder and managing director of angel investment group Mint Ventures, and Scottish representative of venture capital firm Kero Developments, was a member of the jury. She said: “It was encouraging to see all of the founders reflected on the impact their business would have in potentially making the world a better place.
“PCAD really stood out for me as it was clear that the global social impact was running through the veins of the company and they explained in detail how they intend to democratize prosthetic manufacturing to allow more facilities. small and affordable in the world’s poorest countries. “
PCAD was supported by business mentor David Bowie.
Four other Strathclyde start-ups are also expected to receive funding under the new rewards program:
- & I Technologies, a digital health company with an AI-powered application that understands and prioritizes an individual’s reaction to stress,
- Metacarpal, a prosthesis company producing upper limb prostheses designed for better function, cost and aesthetics,
- Querca, which provides a range of professional services including business development and is the premier online quantum training and resourcing platform,
- Paperflute, which produces recyclable children’s playhouses made from paper.
Each of the companies participates in the Strathclyde Inspire Investor Loan Accelerator, which helps accelerate opportunities through the provision of tailored advice, funding and training opportunities.
In addition to the Entrepreneurship Prizes, Dr Huang’s donation will support the construction of a new building, which will bear his name, in the Strathclyde Technology and Innovation Zone with the Glasgow City Innovation District, and the establishment of the Stephen Young Institute for International Business and The Stephen Young Global Leaders Fellowship Program.