After a brief lunch break for the judges, the Intel Capital Final Round Presentations have resumed at the New Venture Championship. The first team to present its venture after the break was Integrated Diagnostics, from the University of California, Berkeley.
Led by Octavian Florescu, the team introduced HemaScreen, an affordable and efficient way to diagnose HIV. Unlike other HIV detection tests, HemaScreen needs just 10 to 20 minutes to produce results.
Not too shabby considering many HIV tests require an additional appointment just to learn the results of a test. Because the team’s product produces results so quickly, the extra appointment isn’t needed, saving healthcare providers around $70.
Integrated Diagnostics hopes to market its product in a clinical trial within two years. If HemaScreen is unable to launch in the United States within two years, the team will look to develop business for its product throughout Europe, Australia, and Japan.
Florescu, along with team members Karl Skucha and Tayson Siegel, benefited from the questions and comments the NVC finalist judges had to offer.
“The judges pushed us from a business perspective.” Florescu said. “They asked us acute and precise questions outside of our areas of expertise.”
While the team has mainly engineering-minded members to construct HemaScreen, the team’s lack of business experience did not hinder their poise. I considered the strongest part of their pitch the Question and Answer portion.
HemaScreen will find out its fate tonight at the Columbia Sportswear Awards Reception. Check back then to find out which team is named the champion of the New Venture Championship.