Entrepreneurs from Asian Countries and Regions Compete at AEA2024 Innovation Award held in Kashiwa-no-ha

December 05, 2024,Kashiwa, Japan : The Asian Entrepreneurship Award (AEA) Steering Committee is pleased to announce that AEA2024, the 13th annual innovation award event for fast-growing Asian startups, was held on November 20th and 21st. Taking place in-person for the first time in five years, the event was held at Kashiwa-no-ha Smart City in Chiba prefecture.

The Asian Entrepreneurship Award aims to help create an innovation ecosystem in Asia by bringing together young entrepreneurs from fast-growing Asian countries with Japanese investors, established major companies and other startup supporters from those countries.

2024 Awards

First Prize: Entomal Biotech Sdn. Bhd. (Malaysia)

Entomal Biotech is a startup offering innovative and proprietary bioconversion technology that utilizes black soldier ants to convert food and other organic waste into high-quality insect protein and nutrient-rich fertilizer in just seven days. The solution can be used in small mobile systems or in large-scale processing facilities to handle diverse waste volumes. The company is a leader in sustainable waste management with a successful track record in a number of Asian countries including Malaysia and Korea.

Second Prize: Formus (New Zealand)

Formus provides innovative technology that combines AI automation and computational biomechanics to deliver personalized orthopedic care. The company’s 3D hip replacement planning software, the result of 20 years of research at the Auckland Biomedical Engineering Institute, is FDA-, PMDA- and TGA-certified and has been deployed in over 3,000 surgical procedures. Building on its success in Australia and New Zealand, Formus has partnered with Zimmer Biomet to roll out its solution in the Japanese market, aiming for commercial deployment in early 2025, leveraging the high penetration rate of CT imaging and surgical technology levels in the country.

3rd Prize: Kisui TECH Co. Ltd. (Japan)

Kisui has developed an autonomous AI off-road platform called “Adam” – a modular machine that can undertake a variety of tasks such as transporting goods, mowing fields and applying pesticides, collecting data while it operates. The platform is designed to reduce workload and improve efficiency, particularly in primary sectors such as agriculture and construction that are facing labor shortages in Japan. Its suitability and usefulness have been confirmed in fields and farms across Japan, and the company has also received significant interest from Spain, Indonesia and the United States. The multinational Kisui team is leveraging their expertise in space robotics and AI to deploy some of the world’s most advanced technology.

Kashiwa-no-ha Award: Kisui TECH Co. Ltd. (Japan)

Fujitsu Accelerator Award

Winner: Kisui TECH Co. Ltd. (Japan)

IP Bridge Award

Winner: TOPOLOGIC (Japan)

Leveraging research conducted at the University of Tokyo, TOPOLOGIC has developed high-performance semiconductor technologies that take advantage of the properties of topological materials. They include TL-RAM, a high-speed energy-saving non-volatile memory that performs 10 times faster than conventional memory, and TL-SENSING, a MEMS thermal sensor that detects thermal fluctuations 100 times faster than conventional MEMS sensors. The company has filed 30+ patents since 2022 and the University of Tokyo has secured an exclusive license for the basic patent. Joint demonstrations are underway attended by specialists from the automotive, industrial equipment, and semiconductor industries.

Life Science Award

Winner: CancerFree Biotech (Taiwan)

CancerFree Biotech provides technology that generates 3D tumor organoids from patients’ blood in order to test the efficacy of cancer drugs. The company helps enable precision medicine and new drug development using organoids that reflect tumor characteristics that differ from patient to patient. To date, the company has processed more than 1,500 cases and has partnered with more than 60 medical institutions in Taiwan.

The Academic Society for Ventures and Entrepreneurs Award

Winner: KroniKare Pte Ltd (Singapore)

The company developed and launched the KroniKare Wound Scanner, an innovative AI-powered chronic wound management system as a research project in 2017. The system automates the assessment and management of chronic wounds caused by diabetes, cardiovascular disease, obesity, and aging. It is now commercialized, CE Mark-certified, and is being deployed in Europe. Japan, with its aging population and large number of diabetic patients, is seen as an important market.