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. BIOSA Technologies was one of three finalist teams, whose founder Nicholas Ledra was a graduate of York University’s LaunchYU Accelerator program led by Innovation York.
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.
Ledra’s 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.
“BIOSA 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,” said York University’s interim vice-president of research & innovation, Rui Wang. “It is gratifying to see entrepreneurs taking Innovation York’s LaunchYU program, testing their ideas out and working to take them to market.
Photo: From left: Aird & Berlis partner Randy Williamson with Nicholas Ledra of BIOSA Technologies, Tony Sabeta of Aird & McBurney and Graham Topa of Aird & Berlis.