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Thursday, May 14, 2009
MIT $100K judges like Ksplice’s no-reboot software updating
By Mass High Tech Staff
Terrafugia Transition First Flight
Terrafugia's flying car simulation
A startup made up of MIT engineering graduates that can allow you to update software without having to reboot your Linux-based computer has won the top prize in this year’s MIT $100K Entrepreneurship Competition.
Ksplice Inc. beat out the five remaining finalists to take away the $100,000 in startup funds during the awards ceremony held last night at MIT in Cambridge.
According to Ksplice COO Waseem Daher, who won his master’s degree in engineering from MIT in 2008, the company, which incorporated in July, will license their technology directly to vendors.
The judges panel picked Ksplice out of these finalists:
• Global Cycle Solutions, which has developed a bicycle-powered corn-sheller for use in developing countries, which was the development track winner.
• Cambridge Eyenovations, which is developing drug-eluting contact lenses intended to replace eye drops, the life sciences track winner.
• MeterLive, which uses mobile phones to provide billboard analytics, winner in the mobile track.
• YouTea, which has developed an over-the-counter treatment to a woman’s health issue, the products and services track winner.
• Ksplice, which has developed a system for operating system updates for better security, winner in the web/IT track.
In addition, the winner of the $200,000 Clean Energy Prize, Husk Insulation, was one of the finalists for the $100K prize. The Clean Energy winner was announced Monday night in a separate ceremony.
Now in its 20th year, the MIT $100K Competition has spawned more than 85 companies and created over 2,500 jobs, officials said. Among those are publicly traded companies such as Akamai Technologies Inc. and startups such as Terrafugia Inc., creator of a ‘roadable aircraft’ which it displayed on the lawn outside of Kresge Auditorium.
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