20 years strong UNSW’s Peter Farrell Cup continues to celebrate the next generation entrepreneurialism
A team of medical researchers with a device enabling doctors to provide the best healthcare for cancer patients by developing personalised treatment strategies took out first prize in the coveted UNSW Peter Farrell Cup this week, securing $10,000 in prize money.
Alten addresses major problems oncologists face in knowing whether a cancer treatment will work in a patient. Especially when the first line of treatment fails and the individual is then moved through several options until the right one is found, greatly affecting survival rates.
“This trial and error approach of testing treatments in the body is harmful to patient wellbeing, not to mention expensive”, says PhD candidate, Andrew Law, CEO and Co-Founder of Alten. “We started to think about what would happen if there was a device that could let oncologists know which treatment is right for each patient’s cancer.”
For the team, participating in the Peter Farrell Cup gave their technology a significant boost. “All the mentors provided great insight into commercialisation, an area we had never considered before, along with strategies to help launch our device onto the market”, says Law.
Launched in 2001, the Peter Farrell Cup is UNSW’s most prestigious student-led and teams-based competitive ideas program which aims to fast-track the next generation of entrepreneurs. Each vying for a share of the $20,000 prize pool.
This year, from a pool of 79 teams, 46 were selected to participate in a series of experiential workshops necessary to test, iterate, pitch and potentially launch a real business. Each team was also matched with an industry mentor to enhance their personal growth and knowledge.
Upon completing the 10-week program, 10 finalist teams were selected to participate in the Peter Farrell Cup Finals Night. Three esteemed judges – UNSW benefactor, Chris Baxter, and UNSW alumni, Melanie Hogan and Andrew Rubio – assessed each of the three-minute pitches against seven core criteria including: problem worth solving, innovation solution, market, value proposition, business model, team and pitch to select the winner.
“Alten’s pitch was clear, covered all the key criteria and was both highly innovative and commercially compelling”, said Chris Baxter. “That coupled with the personalisation of their cancer treatment process which helps people recover quicker, along with their partnership with the Garvan Institute (of Medical Research), made the team a strong choice for winner.”
Through the continued generosity of the Farrell Family Foundation, the Division of Philanthropy has secured funding for the Peter Farrell Cup to continue through to 2024.
First prize: Alten guiding doctors to provide the best healthcare for cancer patients by developing personalised treatment strategies. We believe that everyone deserves a healthy future. (Faculty of Medicine)
Second prize: Negotium empowering local entrepreneurs with the tools they need to buy and sell their businesses without upfront fees or legalese. (UNSW Business School)
Third prize: Freighto building Australia’s largest network of independent trucks. (UNSW Business School)
People’s Choice Award: Zelk developing a buffet spread dispenser to replace single-use plastic packaging and the food waste associated with it. (Faculty of Engineering
