GlucoWise was declared the winner of the fourth edition of the Building Global Innovators competition in a ceremony on February 27 at ISCTE-Lisbon University Institute (ISCTE-IUL).
Building Global Innovators is an international competition for entrepreneurship and innovation hosted by ISCTE-IUL in partnership with Caixa Capital, the MIT Portugal Program, MIT’s Deshpande Center for Technical Innovation, and the Martin Trust Center for MIT Entrepreneurship. The winner was announced by Caixa Capital executive director Stephan Morais.
GlucoWise, developed by the company MediWise, is an affordable, noninvasive glucose-sensing device that allows diabetics to monitor their blood sugar accurately and continuously. The glucose readings, displayed instantly on the device, are transmitted via Bluetooth to a mobile app, where the patient can manage data and receive alerts, and then securely uploaded to a cloud-based system available to the patient and the patient’s doctor.
GlucoWise will receive 100,000 euros, in addition to an equivalent award it received as a finalist last November. Winnings may be doubled over the next three to five years if recipients comply with established milestones over the next 18 months. GlucoWise will also have the opportunity to pitch at the two-week E-Teams III Bootcamp at MIT next May, along with other finalists WATGRID, Cucco, and MeshApp and honorable mentions Endeavour Lab, RoPlaVac, BikeEmotion, Avalingua, and Smart Tongue. The ventures that launched these innovations are now entering a one-to-five-year venture phase.
“The fourth edition’s winner, finalists, and high-caliber applicant pool, consisting of 418 professionals from 17 countries, represented the type of technological innovation that has potential to contribute to this competition’s mission to attract emerging technology-based companies who want to establish a significant presence in Europe through Portugal,” says Charles L. Cooney, the Robert T. Haslam (1911) Professor of Chemical Engineering and Faculty Director of the Deshpande Center at MIT.
The fifth edition of the competition will commence on or before March 20, and information sessions will occur internationally through mid-May. A calendar for these events will be announced soon at www.mitportugal-bgi.org.
The competition is part of a cooperation protocol established in 2010 by ISCTE-IUL and the MIT Portugal Program to create a competence center in the area of technology-based entrepreneurship and to celebrate and reward technology-based projects. Since the competition’s inception:
- 384 submissions have been received — 46.1 percent from startups and spinoffs — from 22 countries and 1,498 participants
- 80 semifinalists, including 55 active startups, have received more than €20 million and more than 3,000 hours of coaching and mentoring
- Semifinalists have created more than 300 jobs
"This year’s teams offer a broad range of projects that challenge and innovate in their fields,” says Luis Reto, rector of ISCTE. “This competition enables enterprises and projects in early stages to have access to the knowledge and expertise of MIT and the ISCTE-IUL, making them open to global markets. This award was designed in an innovative way in order to put a strong focus learning by doing."