The Australian company Sensear , behind the advanced hearing technology device, has been named one of the world’s most promising new companies at Launch Silicon Valley 2008 held by The Silicon Valley Association of Start-up Entrepreneurs (SVASE) and hosted by Microsoft at their Silicon Valley campus in California.
Sensear was one of 30 international companies, selected from 266 applicants, participating in the event. Launch Silicon Valley 2008 is a high profile international forum held in the USA to assist emerging technology companies profile their newly commercialised products.
Sensear was the named the winner of the Life Sciences category and the honour of “Most Likely to Succeed”.
“Launch Silicon Valley 2008 provided us with a unique opportunity as an emerging technology company to launch our products to a worldwide audience,” he said. “The follow on interest and coverage has been enormous”.
Miller said that initiatives such as the US forum would assist Sensear make inroads into the international hearing protection products market which is worth about $1bn per annum.
"The event was a smashing success, with well over 300 people attending. We think the audience, comprising venture capitalists, media, angels and corporate executives, had a chance to preview some of the most innovative and compelling start-ups in the marketplace today," said Chris Gill, President and CEO of SVASE. "We look forward to monitoring the future successes of these companies."
Sensear commenced shipping its products in April 2008 and has now sold its electronic ear plug to more than 50 companies in Australia, the USA, Europe, China and the UK.
The electronic ear plug, developed by a group of engineers in Perth, minimises dangerous industrial noise but allows face to face, mobile phone and two-way radio communication.
“We feel confident that a product of this calibre could capture a significant slice of the worldwide market” Miller said.
The product uses technology based on sophisticated algorithms which suppress industrial and other loud noise to a safe level but allow speech to remain clear and audible.
“Previously people working in noisy environments could wear hearing protection but they could not effectively communicate with each other.
“This has been a huge impediment to productivity and safety,” said Miller.
He said that the electronic ear plug could reduce the incidence of Noise Induced Hearing Loss (NIHL) in the workplace.
“NIHL is major health and safety issue in our workplaces particularly for people working in transport, construction, manufacturing and mining industries.
“It takes only two minutes exposure to very loud noise before permanent hearing damage takes place,” he said.
Sensear’s product was recognised as one of Australia’s best new products in the Australian International Design Awards competition announced last month. An ear muff version will be released later this year.