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Cortical gets a chance to shine on global stage
2 minute read
BPH Energy (ASX:BPH) investee company Cortical Dynamics has the technology and business plan to go global.
That’s the call from the Australian Technologies Competition (ATC), which has selected Cortical and its next-gen Brain Function Monitor as a semi-finalist in the competition.
The competition, which has generated $250 million in investment for finalists over the past five years, are an opportunity for innovative small to medium tech companies to showcase their wares to some of the biggest players around.
Judges for the competition are drawn from companies such as Deloitte, Bird&Bird, and FB Rice.
The ATC also draws support from: the Australian Department of Industry, Innovation and Science; Hong Kong Trade & Development Council and; UK Trade and Investment.
Selection in the semi-finals of the competition is somewhat of a boon for Cortical, as the competition this year is not only focusing on technology but the ability for a company to globally scale their business.
“The Semi Finalists will have unmatched profiling opportunities with industry that will help them get to market and realise their potential in Australia and globally,” competition organiser John O’Brien said in a statement.
Cortical will be showcasing its BAR technology, which purportedly improves on the currently used EEG technologies by incorporating the latest advances in understanding of how the brain’s rhythmic electrical activity is produced.
The BAR’s underlying algorithm produces EEG indexes which are directly related to the physiological state of the patient’s brain.
It estimates that the global brain monitoring market was worth $1.08 billion in 2012 and could grow at an annual compound growth rate of 8.6% to reach $1.63 billion by next year.
How much of this addressable market BAR is able to capture is unknown, thus all factors relating to the company, not this fact alone, should be taken into account if considering BAR for your investment portfolio.
MEC Resources holds an 8.3% stake in BPH