Dr. Brendan Boland, CEO of medtech start-up Loci Orthopaedics was one of three big winners at the Irish Best Young Entrepreneur awards on Sunday.
Dr. Boland won the Best Business Idea category, beating seven other finalists from around Ireland for €12,000 in funding to help grow his business.
Brendan and the team at Loci Orthopaedics have created a new surgical implant for patients with arthritis in their thumb base joint.
Dr. Boland was thrilled with his victory on the night and said the competition is a great experience for young businesses.
“I was absolutely delighted to win the Best Business Idea at the National Final and take the national title for the category back to Galway.
“The IBYE competition is a superb competition for any young entrepreneur regardless of the stage of their business. The established businesses described how they learned and gained from the experience every bit as much as the newer start-ups.”
The IBYE awards are run by the Local Enterprise Office network with the support of Enterprise Ireland and the Department of Business, Enterprise, and Innovation.
Breda Fox of LEO Galway congratulated Brendan on his win and said she hopes more budding entrepreneurs will be encouraged to get support from their LEO.
“We are thrilled for Brendan and delighted to have been able to support him throughout his IBYE journey.
“We encourage all future participants to avail of the supports offered by their local Enterprise Office, as they move forward in their entrepreneurial endeavors.”
Over 40 million people across the EU and the US are affected by arthritis of their thumb base, with over €600 million in related procedures performed every year.
Loci Orthopaedic’s InDx implant is designed to mimic the natural movements of the thumb base joint better than existing implants.
This requires a less invasive surgery and results in better joint function for patients afterwards.