News from the incubator
13th May 2024
Carnot Engines, a company that designs fuel-agnostic heavy-duty engines for the transport industry, has secured three grants totalling £5.3 million to advance their work on maritime engines. By using ceramics and innovative engine design, as well as exploring hydrogen and alternative fuels, they aim to deliver practical, scalable, and sustainable power for the maritime sector.
Pilio, another long-term company from the incubator, was awarded £1 million through the UKRI Energy Catalyst competition to develop clean energy solutions for cotton-growing villages in Pakistan. Pilio, founded in 2011, is dedicated to promoting renewable energy infrastructure in these regions to reduce the high environmental impact associated with the fashion industry’s raw material supply.
Oxford-based MeVitae has secured €1.7 million in seed funding. The company offers a cognitive recruitment system that uses AI to help businesses make smarter hiring decisions. MeVitae’s system combines natural language processing, cognition, and pattern recognition to automate candidate shortlisting. Additionally, MeVitae prioritises building diverse teams, enabling companies to recruit from a wider range of backgrounds to foster equity, diversity, and inclusion. The company was founded in 2014 by University of Oxford alumni, neuroscientist Riham Satti and computer scientist Vivek Doraiswamy.
Student entrepreneurs eager to transform their business concepts into reality have until May 27th 2024 to submit proposals.
StEP Ignite, a Student Entrepreneurship Programme facilitated by Oxford University Innovation and EnSpire, unites teams of students to nurture innovative business ideas.
Open to current University of Oxford students, it serves as a platform to test their entrepreneurial mettle. Culminating in a pitch session, teams present their ideas to a panel of judges who will award a cash prize to the winning team.
In addition, winners will gain access to business and technology mentors to guide them in realising their dreams.
The deadline for applicants with an idea they want to develop is May 27th, while individual entries to join existing projects are due by June 7th.
For more information, visit the StEP website.
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