The Technology Entrepreneur Center (TEC) and the College of Engineering is proud to announce Siddharth Krishnan, PhD Candidate in Materials Science and Engineering, College of Engineering has been named as the Illinois Innovation Prize (IIP) winner for 2019. Siddharth was awarded $20,000 at a ceremony which took place in conjunction with the Cozad New Venture Challenge Finals event at the I-Hotel and Conference Center on April 10, 2019.
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Siddharth Krishnan, PhD Candidate in Materials Science and Engineering, has been named as the Illinois Innovation Prize (IIP) winner for 2019. Siddharth was awarded $20,000 at an April 10 ceremony that took place in conjunction with the Cozad New Venture Challenge Finals event at the I-Hotel and Conference Center. The event is sponsored by the Technology Entrepreneur Center (TEC) and the College of Engineering.
Each year, the Illinois Innovation Prize honors an innovative student working towards solving global and societal challenges with the potential for a significant positive impact on the world. Since 2007, $300,000 has been awarded to student innovators.
“Winning the Illinois Innovation Prize is an amazing honor," Krishnan said. "It's a wonderful validation of the work we have been doing over the past few years, and will allow us to continue our research efforts moving forward. I'm so grateful to the TEC for this prize."
Krishnan has developed a noninvasive, wearable shunt failure monitor for patients with hydrocephalus. The condition affects approximately one million Americans in every stage of life and is the most common reason for brain surgeries in children. The estimated medical costs for hydrocephalus are over $2 billion per year. The shunt failure monitor has the potential to bring down the costs associated with expensive, inaccurate, and painful diagnostic testing. In 2018, Siddharth co-founded Rhaeos Inc. to commercialize the shunt failure monitors.
“The Illinois Innovation Prize recognizes and hopefully helps to empower passionate, innovative students who are working towards making a significant and visible societal impact through their innovative efforts," said Andrew Singer, Associate Dean for Innovation and Entrepreneurship for the College of Engineering. "Siddharth Krishnan exemplifies the spirit of the Illinois Innovation Prize. He is committed to improving the lives of patients suffering from hydrocephalus, and meeting some of the critical, unmet needs in the healthcare industry. We are excited to see him receive this award, and are fortunate to count him among our incredibly innovative and passionate students.”