CTC flies Europe’s flag in Qualcomm head-to-head
Fertility monitor pioneer Cambridge Temperature Concepts has clinched a windfall – in cash and kudos – from US 3G and next generation mobile technologies supernova Qualcomm in a global competition designed to identify and support the commercialisation of world-leading innovation.
Cambridge Temperature Concepts (CTC) has effectively been crowned Qualcomm’s champion of Europe and been pitched into a head-to-head against peers in China, India, Israel, Korea and North America for even greater financial reward and glory in Qualcomm Ventures’ QPrize™ venture investment competition. CTC was founded in 2006 by a group of scientists from the University of Cambridge. It has developed its first product, the DuoFertility fertility monitor, to help couples start families. The company’s aim is to change the way temperature is monitored, making it more convenient, more reliable and more accurate.It prevailed in a series of regional competitions and will receive €100,000 in venture financing. As a finalist, it proceeds to the final round of competition at DEMO Spring 2011 to compete for a further $150,000. The winner will also receive time on stage at DEMO to pitch the company’s product or service to attendees. DEMO Spring 2011 takes place February 27-March 1 at the JW Marriott in Palm Desert, California.In regional competitions, business plans submitted by entrant companies were evaluated based on financial viability, product innovation and the strength of management teams. Independent venture capitalists, QPrize sponsors and Qualcomm Ventures investment managers worked together to form the diverse judging panels responsible for reviewing entries and selecting the six regional finalists.“The future of our industry relies on entrepreneurs to take risks and do what others have not done before to turn innovative ideas into reality,” said Nagraj Kashyap, vice president of Qualcomm Ventures. “This year, we expanded QPrize from four to six regions through the addition of Israel and Korea, and the level of creativity and vision from the finalists really exceeded our expectations.”CTC has joined Owlstone in the running for the new Business Weekly-Cambridge University Cambridge Graduate Business of the Year Award, for which entries are still being taken. If you are a Cambridge graduate and have run a successful business for at least three years, you are eligible. For further details, email tquested [at] businessweekly.co.uk• PHOTOGRAPH SHOWS: Cambridge Temperature Concepts CEO Dr Shamus Husheer and CSO Dr Oriane Chausiaux