Three alumni ventures gain momentum with UPstart funding

Kingston, Ont. – Three alumni entrepreneurs are turning momentum into tangible growth after securing funding through this year’s UPstart Venture Challenge hosted by Smith’s Centre for Entrepreneurship, Innovation & Social Impact (CEISI) and in partnership with Desjardins.

The April 2 event saw eight finalists compete in a virtual arena. Founders presented their business plans to a panel of established entrepreneurs and investors, vying for up to $100,000 to scale their operations.

“At Desjardins, we believe entrepreneurship is a powerful driver of economic vitality and long‑term prosperity for our communities. Partnering with Queen’s University through the UPstart Venture Challenge allows us to support innovative founders at a critical stage of their journey—by combining access to capital, mentorship, and real‑world expertise to help promising ideas grow into sustainable businesses,” says Richard Dupuis, Senior Vice President, Ontario Commercial and Business Banking, Desjardins Ontario Credit Union.

In the end, three teams edged out the competition to earn critical funding for their ventures. They are:

CLOAK Biotech – a DARPA-originated spin-out from a $10M program, developing next-generation microbial biotechnology for global health and biosecurity innovation. Founders Esther Vlessing, MBA’26, Omar Akbari, and Iliano Coutinho-Abreu were awarded $60,000.  

Sihata Care – a software solution for healthcare agencies delivering innovative healthcare software solutions, including AI enabled software designed to improve patient outcomes, increase operational efficiency and reduce costs. Founded by Derek Ng, MMIE’21 and Vin Singh. The company was awarded $35,000. 

Eithio Skincare – a skincare brand centered on providing inclusive, skin-safe and sensitive skin products, rooted in community and collective care. Eithio founder, Jess Peters, BCom’17, was awarded $15,000.

"I worked closely with the team at CEISI for months during my MBA to develop CLOAK Biotech into a true, execution-ready business plan. The level of rigour and support received was exceptional—and what’s meaningful is that the UPstart funding from Desjardins now builds directly on that work, backing the ventures they’ve helped shape with real capital,” says winner Esther Vlessing of her experience. “[I’m] grateful also to the UPstart judges who resonated with the public health problem CLOAK is solving…This capital goes directly toward commercializing a solution to a major global public health challenge." 

This year’s judging panel included alumni Shawn Good, MBA’12, president and CEO of Libro Credit Union; Peter Dalton, ArtSci’91, former owner and president of Daltco Electric; Kristi Herold, BCom’93, founder and CEO, JAM Sports; Nilufer Erdebil, MBA’03, founder and CEO of Spring2 Innovation; Ben Pinsky, BCom’23, associate director of tech and innovation banking, Desjardins; Christian Hansson, BCom’04, angel investor; and Bob Peel, EMBA’99, president of Happy Boss. Mirela Pirlea, lead of partnerships innovation and entrepreneurship at Desjardins, also provided invaluable insights to the selection committee, and Kari Norman, a senior economist at Desjardins, delivered a talk on what lies ahead for the economic and financial landscape.

“At a time when Canada’s productivity and innovation appear to be falling off, I was incredibly inspired by the passion, vision, and entrepreneurial spirit on display by the contestants,” shares judge Shawn Good. “Each of them featured solutions to real problems and an exciting business model. [It] makes me proud to be a Queen’s and Smith alum, and I can’t wait to see the success and impact these founders will create.”