A research group consisting of Ohio State University students was among one of 13 winning teams at the Neuro Startup Challenge. The NSC is a competition that seeks to foster commercialization of forward thinking medical inventions via grants from the National Institutes of Health.
This student research group invented a system—now called NeuroCognetix Inc – that consists of a camera and a software system that compensates for patient movement during brain MRI scans. The students estimate that unusable scans are a 6 billion dollar a year burden on health care.
Team leader Safa Salman described the advantages of the system being centered on its ability to be installed in existing MRI machines. Also, it won’t lengthen scan time or distort the image. The team estimates $220K savings per year, per machine which means the system could pay for itself in just the first year.
The winning teams were selected based on their business plans, financial models and live pitches. They now move forward to phase three, when they will be mentored to launch start-ups, incorporate their business, apply for licensing and execute development and regulatory requirements.