A Bethlehem company working to save lives by creating a test to detect early-stage stomach cancer won both awards at the 20th annual Venture Idol pitch competition held by Ben Franklin Technology Partners of Northeastern Pennsylvania.
Ilico Genetics, located at Ben Franklin TechVentures, is developing the first methylated DNA based molecular test of a blood sample. It detects and predicts a tumor in the stomach, or lesions that could develop into stomach cancer. 
Competing against three other startups in Ben Franklin’s portfolio, Ilico Genetics won $17,500 toward its work at Venture Idol, held April 25 at Ben Franklin’s facility in Bethlehem. A panel of three judges awarded $2,500, and the company also won the $15,000 prize that was based on the voting of the 300 community members, entrepreneurs, students, and investors in the audience.
“Our test is able to detect and quantify the specific DNA from stomach cancer cells,” Fernando Alarcon, Co-Founder and CEO, said during his pitch.
An AI-based predictive model analyzes the results of blood tests and returns a diagnostic report. Alarcon said initial testing of 119 patients had an accuracy rate of 99%.
“This is truly exciting,” he said.
The company is working to build partnerships for clinical trials to obtain approval from the U.S. Food and Drug Administration.
“Our aspiration is to impact the lives of patients and their families by creating innovative genomics solutions,” Alarcon said.
Ilico Genetics is a spin-off of Pontificia Universidad Católica de Chile, a university located in Chile, South America. It is one of the more than 200 companies in the portfolio of Ben Franklin Technology Partners of Northeastern Pennsylvania, which covers 21 counties and is one of four regional branches of the statewide Ben Franklin Technology Partners network, an initiative of the Pennsylvania Department of Community and Economic Development.
Their mission is to develop early-stage technology-based companies; help established manufacturers to be more competitive through technology; and invest in innovative community-wide initiatives that foster a supportive business environment for high-growth companies.
Since its inception nearly 40 years ago, the statewide Ben Franklin network has invested in more than 4,500 technology-based companies and boosted the state economy by more than $25 billion, helping to generate 148,000 jobs through investments in client firms and spinoff companies in Pennsylvania. For every dollar invested, there is a return to the state of $4.
Ben Franklin Technology Partners of Northeastern Pennsylvania is ranked among the top 5% of the most active early-stage seed investors in the country, President and CEO Angelo Valletta told the audience at Venture Idol.
“Our team is dedicated to refresh, retain, and reimagine sustainable jobs for the great state of Pennsylvania, while accelerating technology-based organizations,” Valletta said.
The annual Venture Idol competition is an opportunity to showcase the innovative work that is being fostered, and to offer inspiration and support to both emerging and established entrepreneurs.
Lehigh Valley Economic Development Corp. (LVEDC) was a Silver Sponsor of Venture Idol. LVEDC supports entrepreneurism by building coalitions and partnering with organizations such as Ben Franklin Technology Partners of Northeastern Pennsylvania, which participates in LVEDC’s Entrepreneurship Council of the Lehigh Valley.
The three other startups that competed in Venture Idol were:
CatapalloVR of Reading pitched its virtual reality platform subscription service for providing treatment and support to individuals with autism and mental health issues.
Unity Lab of Dushore pitched its plan to sell commercial laundry equipment to users such as small hotels, restaurants, physicians’ offices, and others who need only a few units.
Showcase of Scranton pitched its music discovery platform that revolutionizes how emerging artists connect with fans.
Venture Idol included the presentations of other awards that were not based on the pitch competition. The winners were:
Entrepreneurial Achievement Award: Gilson Snow, Selinsgrove
Manufacturing Achievement Award: Production Systems Automation, Duryea
Partnership Award: Dr. Rodney Ridley, Alvernia University O’Pake Institute
(Photos by Marco Calderon Photography, courtesy of Ben Franklin Technology Partners of Northeastern Pennsylvania)