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Thursday Dec 26, 2024
Wednesday, 25 April 2018 00:00 - - {{hitsCtrl.values.hits}}
Credence Genomics, Sri Lanka’s first and only NGS-based diagnostic firm, made Sri Lanka proud again by reaching the finals of Pitch@Palace Commonwealth. Credence Genomics was in the Top 5 in the People’s Choice category and amongst the final 12 as well, an honour indeed for both Dr. Gnanam as well as Sri Lanka.
Pitch@Palace Commonwealth is the platform to showcase entrepreneurs from the 53 Commonwealth countries. Pitch@Palace Commonwealth supports entrepreneurs by connecting them to local and international networks, thus helping them to amplify their businesses. As part of the Pitch@Palace global network it will build connectivity between Commonwealth countries and other key markets.
Pitch@Palace Commonwealth was held at St. James’s Palace, London on 16 April as part of the Commonwealth Summit. It is an opportunity for entrepreneurs from each of the 53 Commonwealth countries to pitch their business to CEOs, influencers, angels, mentors and potential investors and business partners.
The Summit’s theme is ‘Towards a Common Future’ and is focused on building on the strengths of the Commonwealth to ensure responsiveness to global challenges and delivery of a more prosperous, secure, sustainable and fair future for all Commonwealth citizens. In line with the Commonwealth Summit’s aims, the theme for Pitch@Palace Commonwealth 1.0 was ‘Human Tech – Benefits for Humanity’; addressing the need to build a healthier and more sustainable future for mankind.
Pitch@Palace Commonwealth 1.0 aimed to support entrepreneurs who have identified opportunities in the areas of biotech and medtech, education, energy and the environment, internet security, consumer goods and IOT, artificial intelligence and machine learning and communications, media and entertainment. Credence Genomics, a revolutionary genetic mapping and diagnostics start up from Sri Lanka, already recognised globally for its innovative diagnostics using cutting-edge technology, represented Sri Lanka under Biotech and Medtech at Pitch@Palace Commonwealth, making it the first-ever applicant from Sri Lanka for the most prestigious Pitch@Palace host by the Duke of the York and the Royal Family.
Conceived by Dr. Vaz Gnanam in 2011, Credence Genomics was one of the earliest biotechnology startups not only in Sri Lanka but the region to invest in cutting-edge NGS and application development. Steering the clinical genomics initiative, he led a team of scientists and ICT engineers to develop leading edge innovative diagnostics tests which have been the result of six years of stringent research on industry defining genetic science, application of information technology and testing across a broad spectrum of diseases.
The tests rely on Next Generation Sequencing (NGS) technology, which enables the four basic building blocks found in all life forms to be interpreted as digital data, to be captured, stored in a silicon chip and compared by complex software backend.
Dr. Vaz Gnanam represented Credence Genomics and Sri Lanka at the Pitch@Palace, and marched it successfully to the finals along with 11 other companies from Commonwealth Countries including Australia, Canada and India. Pitch was witnessed by more than 200 potential supporters, including The Royal Family, CEOs, influencers, angels, mentors and business partners.
