Siloton named one of UK's most innovative young businesses

Siloton listed in the prestigious Startups 100 Index, which finds the top 100 startups with the most growth potential for the year ahead and has previously identified brands including Monzo, Deliveroo and HelloFresh.

Contact: pressoffice@siloton.com

BRISTOL, England (January 2024) - Siloton Limited has been listed in UK’s longest-running index of disruptive new startups, the Startups 100.

Run by Startups.co.uk, the Startups 100 offers a showcase of new businesses that demonstrate innovation, solid financials, opportunity in their market, a great concept, and a strong customer base or following. The list has previously identified brands including Monzo, Deliveroo and HelloFresh.

Siloton is developing an at-home monitoring service for the 25% of over 60’s with age-related macular degeneration (AMD), the leading cause of sight loss in the developed world. By combining a personal optical coherence tomography (OCT) system with cloud-based digital health tools, this will create a paradigm shift in the way patients are cared for, ensuring they receive treatment when they need it, not just when they are able to access the over-subscribed in-clinic devices. Its Startups 100 entry can be found at https://startups.co.uk/startups-100/2024/siloton/.

Richard Parris, Managing Editor of Startups.co.uk, commented:

“The ingenuity and innovation of the brands featuring in our annual Startups 100 index never ceases to amaze, and this year is no exception. Despite the crises of the past couple of years, we’ve seen some incredible businesses from every corner of the UK in our rankings. They may be tackling different challenges to one another, but there’s a shared mood of opportunity and an optimism for the year ahead that’s invigorating to see as we begin 2024.”

Dr. Alasdair Price, CEO of Siloton, said:

“It’s fantastic to be recognised by the Startups 100, whose analysis of our market opportunity and innovation should give real confidence to any investors considering joining our current round. Although we’re already halfway to our target, with significant further interest, some capacity still remains, so any potential investors are invited to get in touch via investors@siloton.com”

About the Index:

The Startups 100, run by Startups.co.uk, showcases the top 100 new UK businesses based on five key areas of analysis: finance, external validation, size of opportunity, innovativeness of idea and strength of concept.

As well as celebrating the best small businesses in the UK, the list is also an opportunity to grow a community of like-minded entrepreneurs and business owners who support and advocate for each other.

Notes to editors: To feature, all businesses in the index had to have launched in the last 5 years, be UK-based, and be privately owned (at the time of entering). The winners of the Startups 100 Index are chosen by a specialist panel of judges. For the full list visit: https://startups.co.uk/startups-100/2024/list-in-full/.

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Siloton opens second funding round with South East Angels share issue

50% of the round is now committed, with further offers under consideration.

Contact: pressoffice@siloton.com

BRISTOL, England (December 2023) – Siloton Limited has formally opened its second funding round, issuing the last of its SEIS shares to members of Sussex-based investment group South East Angels.

This marks the culmination of a highly successful year for Siloton, in which its first-generation Akepa device was unveiled and first revenues were generated. The company was named one of the top photonics startups in Europe by Sifted and has been featured in numerous publications and podcasts such as Physics World Weekly and South West Business Insider. Siloton has won numerous accolades, including the Institute of Physics Business Startup Award and the Medilink South West Startup Award. Dr. Alasdair Price, Siloton’s CEO, was also named one of South West Insider’s 42 under 42 and received the Clifford Paterson Medal from the Institute of Physics alongside Siloton’s CTO, Dr. Euan Allen.

Other highlights in 2o23 include the granting of Siloton’s first patent, the awarding of two National Institute for Health and Care Research (NIHR) grants, and surpassing 100 patients engaged through focus groups organised with The Macular Society.

Between allocated shares and funds committed, Siloton is halfway to its fundraising target and remains EIS eligible. Investors keen to join the round while capacity remains are invited to get in touch via investors@siloton.com.

Kristina Pereckaite, Managing Director of South East Angels said:

“This company really sits at the heart of what our group cares about most: creating positive impact, investing in cutting-edge technology, and backing exceptional founders. We’re pleased to have our group leading this round to help propel the company through its next stage of development. We are excited about the positive impact Siloton's technology will have on the health of individuals globally and its ability to make a meaningful difference in healthcare”

Dr. Alasdair Price, CEO of Siloton, added:

“South East Angels are a highly-motivated group of investors, whose focus on positive impact through cutting-edge technology makes them the perfect match for Siloton. We're delighted to have them on board and are excited to be working with them going forward.”

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Siloton wins prestigious Institute of Physics Business Award

Contact: pressoffice@siloton.com

BRISTOL, England (October 2023) – Siloton Limited has been awarded the prestigious Institute of Physics Business Start-Up Award “for the development of a personal optical coherence tomography system, capable of saving the NHS half a billion pounds each year and reducing sight loss caused by age-related macular degeneration”.

The IOP Business Start-Up Award specifically recognises and celebrates young companies with a great business idea founded on a physics invention, with the potential for business growth and significant societal impact.

Dr Alasdair Price, CEO of Siloton, said:

“Building Siloton up to where we are now has required enormous levels of dedication, passion and hard work from the entire team. Seeing everyone’s achievements recognised in this way is hugely rewarding and emphasises the importance of our work.”

Institute of Physics President, Professor Sir Keith Burnett FRS said:

“The IOP Business Awards recognise and reward the achievements of physics-powered businesses at all stages and of all sizes. Whether well-established or a start-up, an SME or corporation, these innovative companies are making significant contributions to the UK and Ireland’s scientific research and development, driving innovation and supporting the economy.

All of this year’s winners have creatively applied physics to bring about positive change to individuals, societies or economies, by tackling a new problem or improving on a previous solution, and all are thoroughly deserving of an IOP Business Award.

Recent events have underlined the absolute necessity to encourage and reward our scientists. We rely on their dedication and innovation for our lifestyles, wellbeing and safety.”

The Institute of Physics (IOP) is the professional body and learned society for physics, and the leading body for practising physicists, in the UK and Ireland. With a rich history of supporting business innovation and growth, it is committed to working with ‘physics-powered’ businesses, and companies that apply and employ physics and physicists.

The IOP’s prestigious Business Awards are unique in the UK and Ireland in recognising the significant contribution that physicists and physics make in industry.

Press Contacts

For specific enquiries about Siloton, please contact pressoffice@siloton.com.

For IOP press enquiries, please contact press@iop.org, or for specific enquiries about the IOP Business Awards, please contact business.awards@iop.org.

About Siloton

Siloton is developing an at-home monitoring service for the 25% of over 60’s with age-related macular degeneration (AMD), the leading cause of sight loss in the developed world. By combining a personal optical coherence tomography (OCT) system with cloud-based digital health tools, this will create a paradigm shift in the way patients are cared for, ensuring they receive treatment when they need it, not just when they happen to be able to access an OCT in the hospital.

The effects will be threefold. Patient wellbeing will improve, as they will retain their sight for longer, pressure on overstretched outpatient clinics will be alleviated, and the NHS will save half a billion pounds per annum, even if at-home monitoring is only made available to patients with late-stage AMD.

Siloton closed its first investment round in March 2022, raising c. £485k to fund the design, fabrication and testing of Akepa, as well as its integration into a binocular form factor. Siloton’s next round will soon be closing. Any interested parties still outstanding are invited to get in touch via investors@siloton.com.

To find out more, visit www.siloton.com or follow updates on Siloton’s LinkedIn page.

About the Institute of Physics (IOP)

The Institute of Physics (IOP) is the professional body and learned society for physics in the UK and Ireland. It seeks to raise public awareness and understanding of physics, inspire people to develop their knowledge, understanding and enjoyment of physics and support the development of a diverse and inclusive physics community. As a charity, it has a mission to ensure that physics delivers on its exceptional potential to benefit society.

About the Institute of Physics (IOP) Business Awards

The Business Awards recognise the significant contribution that physicists and physics make in industry across all sectors and at all stages – from start-ups to multi-national corporations. The awards are a celebration of entrepreneurship, excellence in innovation and the successful use of physics in a product or service.

More information about the IOP Business Awards is available here.

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DR ALASDAIR PRICE AND DR EUAN ALLEN AWARDED 2023 INSTITUTE OF PHYSICS CLIFFORD PATERSON MEDAL

Contact: pressoffice@siloton.com

BRISTOL, England (October 2023) – Dr Alasdair Price and Dr Euan Allen from Siloton Limited have been awarded the 2023 Institute of Physics Clifford Paterson Medal, recognising “exceptional early-career contributions to the application of physics in an industrial or commercial context”.

Drs Price and Allen have received the award “for developing and commercialising a world-leading integrated photonics platform for optical coherence tomography, and designing a personal eye scanner around it to prevent sight loss from age-related macular degeneration”. This is the core technology upon which Siloton has been built.

Dr Alasdair Price said:

“Being awarded such a prestigious medal is real validation of the technology that we have developed and the potential that it has to improve people’s lives.”

Dr Euan Allen added:

“We are very happy to be recognised by the Institute of Physics and would like to give a big thank you to all the engineers, suppliers, and partners that we have worked with over the past 18 months to make this possible.”

Institute of Physics President, Professor Sir Keith Burnett FRS said:

“On behalf of the Institute of Physics, I want to congratulate all of this year’s award winners. Each one has made a significant and positive impact in their profession, whether as a researcher, teacher, industrialist, technician or apprentice and I hope they are incredibly proud of their achievements.

There is so much focus today on the opportunities generated by a career in physics and the potential our science has to transform our society and economy and I hope the stories of our winners will help to inspire future generations of scientists.”

The Institute of Physics (IOP) is the professional body and learned society for physics, and the leading body for practising physicists, in the UK and Ireland.

Its annual awards proudly reflect the wide variety of people, places, organisations and achievements that make physics such an exciting discipline.

The IOP awards celebrate physicists at every stage of their career; from those just starting out through to physicists at the peak of their careers, and those with a distinguished career behind them.

They also recognise and celebrate companies which are successful in the application of physics and innovation, as well as employers who demonstrate their commitment and contribution to scientific and engineering apprenticeship schemes.

Press Contacts

For specific enquiries about Dr Alasdair Price, Dr Euan Allen and/or Siloton, please contact pressoffice@siloton.com.

For IOP press enquiries, please contact press@iop.org, or for specific enquiries about the IOP 2023 IOP Awards, please contact awards@iop.org.

About Siloton

Siloton is developing an at-home monitoring service for the 25% of over 60’s with age-related macular degeneration (AMD), the leading cause of sight loss in the developed world. By combining a personal optical coherence tomography (OCT) system with cloud-based digital health tools, this will create a paradigm shift in the way patients are cared for, ensuring they receive treatment when they need it, not just when they happen to be able to access an OCT in the hospital.

The effects will be threefold. Patient wellbeing will improve, as they will retain their sight for longer, pressure on overstretched outpatient clinics will be alleviated, and the NHS will save half a billion pounds per annum, even if at-home monitoring is only made available to patients with late-stage AMD.

Siloton closed its first investment round in March 2022, raising c. £485k to fund the design, fabrication and testing of Akepa, as well as its integration into a binocular form factor. Siloton’s next round will soon be closing. Any interested parties still outstanding are invited to get in touch via investors@siloton.com.

To find out more, visit www.siloton.com or follow updates on Siloton’s LinkedIn page.

About the Institute of Physics (IOP)

The Institute of Physics (IOP) is the professional body and learned society for physics in the UK and Ireland. It seeks to raise public awareness and understanding of physics, inspire people to develop their knowledge, understanding and enjoyment of physics and support the development of a diverse and inclusive physics community. As a charity, it has a mission to ensure that physics delivers on its exceptional potential to benefit society.

About the Institute of Physics (IOP) Awards

The IOP Awards proudly reflect the wide variety of people, places, organisations and achievements that make physics such an exciting discipline. They celebrate people at every stage of their career, from those just starting out through to those at their peak. They also recognise and celebrate companies which are successful in the application of physics and innovation, as well as employers that demonstrate their commitment and contribution to scientific and engineering apprenticeship schemes.

More information about the IOP Awards is available here.

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Siloton granted its first patent for optical coherence tomography using photonic chips

Contact: pressoffice@siloton.com

BRISTOL, England (September 2023) – Siloton Limited, a UK start-up developing personal eye scanners to improve outcomes for patients with macular disease, has been granted its first patent. GB2601117 protects a key on-chip component that can be used to adapt the system to different imaging distances, with applications in the ophthalmic medical space, as well as in the wider use of hand-held OCT. This type of flexibility is critical for the device’s ability to produce robust medical-grade images despite differences in the distance between the front and back of an individual’s eye. The patent was granted on 15 August 2023 and published in the Patents and Designs Journal on 13 September 2023.

Dr Alasdair Price, Siloton’s CEO, said:

“We are delighted that our first patent application has now been granted. While patents are an important part of any technology company’s IP strategy, this also demonstrates just how cutting-edge Siloton’s technology is.”

Siloton has a number of other patent applications in progress, both domestically and internationally, in addition to having developed Redfield, its own proprietary photonic chip component library that was designed in-house from scratch.

About Siloton

Siloton is developing an at-home monitoring service for the 25% of over 60’s with age-related macular degeneration (AMD), the leading cause of sight loss in the developed world. By combining a personal optical coherence tomography (OCT) system with cloud-based digital health tools, this will create a paradigm shift in the way patients are cared for, ensuring they receive treatment when they need it, not just when they happen to be able to access an OCT in the hospital.

The effects will be threefold. Patient wellbeing will improve, as they will retain their sight for longer, pressure on overstretched outpatient clinics will be alleviated, and the NHS will save half a billion pounds per annum, even if at-home monitoring is only made available to patients with late-stage AMD.

Siloton closed its first investment round in March 2022, raising c. £485k to fund the design, fabrication and testing of Akepa, as well as its integration into a binocular form factor. Siloton’s next round is now open and interested parties are invited to get in touch via investors@siloton.com.

To find out more, visit www.siloton.com or follow updates on Siloton’s LinkedIn page.

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Siloton wins Medilink southwest startup award

Siloton is delighted to announce that it has won the highly-contested Medilink Southwest Startup Award, sponsored by P3 Medical. It is a great privilege to have won, especially given the other fantastic startups in the region.

Siloton obtains ground-breaking optical coherence tomography image with first-generation Akepa photonic chip

Image of retinal phantom demonstrates capability of Siloton’s photonic chip technology to monitor key parts of the eye affected by macular disease.

Contact: pressoffice@siloton.com

BRISTOL, England (March 2023) - Siloton Limited, a trailblazing UK start-up, has acquired a sub-surface image of the retina in a synthetic eye, using its revolutionary photonic chip technology. The synthetic eye, more commonly known as a retinal phantom, is anatomically analogous to a real eye and is used to calibrate clinical devices.

The image was taken with Siloton’s first-generation optical coherence tomography (OCT) chip, Akepa. OCT is a non-invasive imaging technique akin to a high-resolution ultrasound, and is the gold standard for diagnosing and monitoring eye disease. At present, it can only be accessed through hospitals and high-end optometrists, because the optical components inside lead to systems that cost tens of thousands of pounds and take up an entire desk. Akepa compresses a tabletop-worth of heavy, expensive and fragile optical components onto a single piece of material smaller than a £1 coin.

As the first OCT image to be taken with Akepa, this already allows for measurements of retinal layer thicknesses. These are a key marker of disease progression in treatable retinal diseases such as wet age-related macular degeneration, retinal vein occlusion and diabetic macular oedema, all of which affect millions of people worldwide.

In reaching this milestone, Siloton cements its position as the world leader in commercial photonic chip OCT, bringing compact and affordable home-monitoring within arms’ reach for some of the most commonly diagnosed conditions in ophthalmology; the busiest outpatient speciality in the NHS.

Cathy Yelf, Chief Executive of national sight loss charity the Macular Society, said:

“We’re delighted to see that Siloton has acquired its first OCT image. We’re excited about this technology, which could make a real difference to people living with macular disease, allowing them to monitor their condition from home. We look forward to continuing to work with the team at Siloton while they continue to develop this technology.”

Dr. Jeff Hogg, Ophthalmology Registrar at NHS Health Education North East, Honorary Research Fellow at Moorfields Eye Hospital NHS Foundation Trust and NIHR Doctoral Fellow at Newcastle University, added:

“This step change in the miniaturisation of OCT can help us to unlock the full value of the progress we already see in ophthalmic telemedicine, workforce mobilisation and patient access.”

Further refinement of the image is ongoing, the results from which will feed into the design of the second-generation Blue Jay chip, as well as Siloton’s wider OCT system.

About Akepa

Akepa is Siloton’s first-generation OCT chip, designed using Redfield, a proprietary, in-house component library. The core circuit comprises over 300 optical and electronic elements, with a further 200 elements integrated alongside this as part of a series of test structures. With approximately 70% of the OCT system on-chip, this is already at the same level of integration as will be required in the final product. Akepa was fabricated in a commercial foundry, providing a clear route to high-volume manufacture at the scales required for widespread monitoring and treatment of retinal disease.

About Siloton

Siloton is developing an at-home monitoring service for the 25% of over 60’s with age-related macular degeneration (AMD), the leading cause of sight loss in the developed world. By combining a personal optical coherence tomography (OCT) system with cloud-based digital health tools, this will create a paradigm shift in the way patients are cared for, ensuring they receive treatment when they need it, not just when they happen to be able to access an OCT in the hospital.

The effects will be threefold. Patient wellbeing will improve, as they will retain their sight for longer, pressure on overstretched outpatient clinics will be alleviated, and the NHS will save half a billion pounds per annum, even if at-home monitoring is only made available to patients with late-stage AMD.

Siloton closed its first investment round in March 2022, raising c. £485k to fund the design, fabrication and testing of Akepa, as well as its integration into a binocular form factor. Siloton’s next round is now open and interested parties are invited to get in touch via investors@siloton.com.

To find out more, visit www.siloton.com or follow updates on Siloton’s LinkedIn page.

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Siloton partners with the Macular Society to investigate the feasibility of new home-based imaging technology for UK eye patients

Innovate UK, the UK’s innovation agency, is funding the project via the Biomedical Catalyst competition

BRISTOL, England (June 2022) - Siloton Limited, a revolutionary new HealthTech startup, has announced the initiation of an Innovate-UK-funded project working alongside the Macular Society.

25% of over 60’s in Europe suffer from age-related macular degeneration (AMD) and those with the ‘wet’ form of the disease have to attend hospital to assess whether they need a costly treatment that involves injecting medicine into the eye. However, patients differ greatly in how often they need treatment, meaning that many hospital visits could be avoided while some individuals do not attend frequently enough.

This project seeks to understand whether the circumstances in the UK are suitable for a new home-based monitoring service for patients with wet AMD, allowing them to receive specialist eye scans in the comfort of their own home. Such a service would reduce unnecessary visits to the hospital and enable personalised treatment regimes, minimising any patient discomfort that arises from the injections. The project will focus on conducting a health economics review, engaging with regulatory experts, and building a prototype system for automated image analysis. In addition, Siloton will partner with the Macular Society to hold patient focus groups, discussing the problems patients currently face as well as their potential appetite for this new technology. 

Dr Ben Hunt, Siloton’s Chief Commercial Officer explained that “Siloton plans to put diagnostic imaging technology directly into the homes of patients. This device will be used by AMD sufferers several times a week and their scans will be uploaded to the cloud, where a computer will check if treatment is required. If so, patients can be rapidly brought into the hospital for treatment. However, if their condition is stable, then they can avoid going to the hospital entirely, saving everyone time and money.” 

Cathy Yelf, Chief Executive of the Macular Society said, “We are very pleased to hear that Innovate UK has funded Siloton’s bid and look forward to supporting Siloton’s patient-and-public-involvement effort. We strongly believe that companies such as Siloton, who integrate the views of patients right from the start of their developmental journey, will produce better products that patients want to use”.

Dr Alasdair Price, CEO of Siloton, commented that “We are delighted to have been awarded this funding, giving us the opportunity to work alongside the Macular Society. We particularly look forward to discussing our ideas with patients and finding out how we can develop a product that is both helpful and enjoyable for them to use.” 

This grant is enabled by the funds raised as part of Siloton’s first investment round. Limited capacity remains for further investment in Siloton within this round. Any investors interested in learning more about Siloton are encouraged to contact Dr Ben Hunt, Chief Commercial Officer, using investors@siloton.com

Siloton Announces c.£470k investment round

A combination of institutional investors and value-add angels contributed to the first closing of Siloton’s investment round

BRISTOL, England (March 2022) - Siloton Limited, a revolutionary new deep-tech startup, has announced the first closing of its investment round, totalling c.£470k. 

The funds will be used to further develop Siloton’s diagnostic imaging technology. By harnessing the power of photonic integrated circuits (PICs), this is set to revolutionise the way in which patients with eye disease interact with ophthalmology services. In addition to attaining key technology milestones, Siloton will seek to form partnerships with key stakeholders and members of the global supply chain. 

The round was led by Quantum Exponential Group PLC and Evenlode Impact who invests to build a diversified start-up portfolio for the Evenlode Foundation. Alongside institutional investment were value-added angel investors including Michael Tibbets, Zbigniew Łukasiak, Nick Holzherr,  Grzegorz Jakacki, Priyanka Mandal, and Darshak Shah.  

Dr Alasdair Price, CEO of Siloton, commented that “The closing of Siloton’s first round of investment represents a new chapter in the company's history. We have a strong management team with world-leading technical know-how. This knowledge is complemented by the considerable expertise contained within our investor base; including clinical, sector, and commercial experts. We are all deeply excited to begin working together and building a compelling product for patients with age-related macular degeneration“. 

At the core of Siloton’s innovation is an emerging technology called Photonic Integrated Circuits or PICs. Dr Euan Allen, CTO, explains that “PICs mean we can reduce the size of these integrated diagnostic systems by 10x, while at the same time making them extremely robust to accidental damage. This size reduction also facilitates the human factors driven design of ergonomic patient-centric systems, unlike in the traditional approach which is often constrained by bulky and fragile components”. 

Cathy Yelf, Chief Executive of the Macular Society stated that “Macular disease is the leading cause of sight loss in the UK, with more and more people being diagnosed every day. The technology that Siloton is developing could make a huge difference to the lives of patients, so we are very pleased to hear that the team have closed their first round of investment. The Macular Society stands ready to support the development of this exciting technology by providing access to vital patient perspectives.”

Limited capacity remains for further investment in Siloton within this round. Any investors interested in learning more about Siloton are encouraged to contact Dr Ben Hunt, Chief Commercial Officer, using investors@siloton.com

 Siloton announces two new board members

January 2021 - Siloton is pleased to announce the appointment of two new board members. Ian Reid will join Siloton’s board as Chairperson and Jane Garrett will join the board as Non-Executive Director.

Ian brings a wealth of diverse business experience covering many sectors. His experience spans high-tech equity funded start-ups in addition to blue chips.

Jane has over 25 years of experience in developing technology and science based businesses as a mentor and director. She started her own software company that she grew to the point of listing on London’s AIM.

 Siloton files first patent

November 2020 - Siloton has filed their first patent. Under the expert guidance of Maucher Jenkins, Siloton have filed a patent that covers the design and integration of their revolutionary photonic chip. This is the first of a planned series of patents that will act to ring-fence Siloton’s position as a leader in photonic chips for optical coherence tomography. The Siloton team wish to thank those involved at Maucher Jenkins, and Hugh Dunlop in particular, for their attention to detail and a great first filing experience.

Siloton makes it through to the Silicon Gorge Investor Showcase

15th October 2020 - Siloton has made it through to the investor showcase of Silicon Gorge, a major investment event in the South West attended by institutional investors, business angels, and eco-system leaders. 66 start-ups were whittled down to 11 after pitching to a panel of judges (including investors and management from local accelerators). The showcase will be on the 12th of November. Registration details to follow shortly…

More about Silicon Gorge [Taken from TechSpark]

Silicon Gorge is a part of the Investment Activator Progamme (IAP). The IAP is a pioneering collaboration between private and public sector organisations has been put together to help catalyse investment into fast-growing startups in Bristol, Bath and the West of England. Want support from the Investment Activator Programme – contact IAP@techspark.co 

Siloton will be pitching at the QTEC Investor Showcase

17th September 2020 - QTEC will be pitching at the up-coming QTEC Investor Showcase. Register today to see our pitch and have a live Q&A.

Alasdair attends the IECT Summer School

August 2020 - Alasdair virtually attended the IECT summer school, normally held in Austria. Over the course of two weeks, a number of business leaders gave talks on topics from fund-raising to IP protection. Alasdair was mentored by Miranda Weston-Smith