SeriCoat and CentroMigrante win MIT’s $100K entrepreneur contest

SteriCoat and CentroMigrante win MIT’s $100K entrepreneur contest

Boston Business Journal – May 19, 2006

SteriCoat Inc. and CentroMigrante Inc. won the MIT $100K Entrepreneurship Competition with ideas for a catheter coating and for housing to replace shanty towns, respectively.

SteriCoat’s victory marked the eighth straight year that a life sciences team won the contest. CentroMigrante was the inaugural winner of a separate contest category to address problems in low-income communities in emerging economies.

SteriCoat’s catheter coating was formulated by MIT researcher Chris Loose and is designed to prevent the formation of bacterial "biofilms" and kill off bacteria. The team plans to tackle the market for central venous catheters initially, but say their coating could be used with other medical devices and even with implanted human organs.

A team of Filipino students lead CentroMigrante, which conceived its concept for urban housing after noting the strains caused by large migrations of workers into Manila each year seeking temporary port jobs. CentroMigrante hopes to replace squalid shanty towns with cheap, custom housing units.

The runners up for the $100K business venture were Avanti Metal Co. and Terrafugia. Avanti developed a one-step process to make titanium at one-tenth of its current price while producing one only percent of the hazardous waste caused by today’s methods. Terrafugia received perhaps the most attention of any $100K entrant, with its plan for a "personal air vehicle" that can drive on any road, take to the air from airports, and park in a household garage.

The development prize runners up were Kalpataru and OneWorld Medical Devices. Kalpataru is developing micro-finance software applications for use on a laptop computer designed conceived at MIT to be sold for $100 in developing countries. OneWorld Medical plans to sell a portable, temperature-controlled container for transporting and storing vaccines on Third World countries.

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