The best business model by Estonian students is the electronic monitoring device for the pregnant
The best business model by Estonian students is the 24/7 electronic monitoring device LifeinU for the pregnant. The best business model was selected on January 15 at Tallinn University of Technology.
LifeInU is an innovative monitoring system for women with high-risk pregnancy who wish to be under medical surveillance throughout their entire pregnancy. The system simplifies medical surveillance, increases the feeling of safety and enables to receive immediate and constant feedback from a medical doctor. Unlike the competitors of LifeInU that measure blood pressure and heart rate, this product is driven by artificial intelligent algorithms and is specially designed for the pregnant.
According to the head of the competition panel, Director for Innovation and Business Centre at TUT Tea Varrak, there were many good ideas in the competition. „It was difficult for the panel to pick the winner. It was a truly successful competition – our youth is competitive and clever!“ Tea Varrak affirmed.
Dmitri Burnašev, Director of the Business Start-Ups Division of Enterprise Estonia: „I do not know whether one of the ideas that were introduced to the panel will be the Estonian Nokia, but the presentations were strong and the confidence of the performers leaves no doubt that there is a reason to keep an eye on the future activities of the participants – positive surprises and great achievements are definitely in store. And it is a pleasure to say that many of them begin with the Mektory project“.
10 best business solutions reached the final of this close competition; in total, 40 projects were submitted. The award-winning second and third places were given to Fresh AGM and Trio Fortuna. Fresh AGM proposed a system for online meetings and Trio Fortuna a web-based travel planner for people with special needs.
The main prize of the competition is a two-week training in Silicon Valley and meetings with the potential investors. The best three competitors will have an opportunity to participate in the European Innovation Academy starting in TUT on the 21st of January.
The panel of the competition was very diverse and respectable: the head of the panel and Director for Innovation and Business Centre of Tallinn University of Technology Tea Varrak, members: Andres Keevallik, Rector of Tallinn University of Technology; Alar Kolk, Vice-Rector for Innovation and Internationalisation of Tallinn University of Technology; Dmitri Burnašev, Director of the Business Start-Ups Division of Enterprise Estonia; Merit Imala, Interreg project manager at Estonian Development Fund; Väino Kaldoja, Chairman of the Board at AS Silberauto; Loit Linnupõld, Chairman of the Board of Swedbank Investment Funds; and Almar Proos, Chairman of the Council at AS Favor and representative of the Estonian Business Angels Network EstBAN.
The student business model competition was held for the second time. The first competition took place in 2012.
The cooperation partners of the MEKTORY business model competition are:
Enterprise Estonia, Tallinn Science Park Tehnopol, Estonian Development Fund, Garage 48, Startup Garage, Creative Estonia, Tallinn Business Incubators, Estonian Information Technology College, Estonian Academy of Arts, TTK University of Applied Sciences, Tallinn University, Estonian Business School.
The partners of MEKTORY in foreign universities are the Swinburne University of Technology in Australia, Aalto University in Finland, and the University of South Carolina in the United States.
Tea Varrak, Director for Innovation and Business Centre of Tallinn University of Technology, phone 620 2030, tea dot varrak at ttu dot ee
Krõõt Nõges, Press representative of TUT, phone 620 3594, mobile phone 5303 6163, kroot dot noges at ttu dot ee