Last year, Nick Vasilescu ‘23 became the first Newman University student to compete in the final round of the Shocker New Venture Competition at Wichita State University (WSU).
When his team did not place in 2023, he took a leap of faith and re-entered the competition a year later.
On April 26, Vascilescu took home the first-place win in the competition for his product pitch, Testkey. He won a prize worth $25,000 to develop the biotechnology of the product, as well as an additional $7,500 for winning the WSU innovation award.
What is Testkey?
Testkey is a rapid, accessible diagnostic test for Long COVID, a disease that affects one in nine people and is distinct from acute COVID. Using saliva, the Testkey device can quickly screen and test, delivering the results “right to your fingertips.”
Long COVID currently affects around 30 million people in the U.S., yet there is no diagnostic test available. The patent-pending Testkey biotechnology allows for the sensitivity of a molecular-based PCR (polymerase chain reaction) lab test to be adapted into a test strip, which can be created at a fraction of the price and time while maintaining accuracy, Vasilescu said.
“This test will help millions, so for the judges to recognize that was quite incredible,” he added.
The winning funds will be used to develop Testkey’s technology. Vasilescu plans to eventually license the intellectual property to a larger test strip company that will distribute tests to patients.
“Their large and vast distribution channels will help get the test in the hands of patients,” Vasilescu explained. “This way, we earn a royalty on the backend, but the marketing, distribution and sales are up to them.”
Testkey could help fill a significant gap in health care and has the potential to pave the way for future advancements in disease detection.
Try, try again
The win shows Vasilescu that “life is full of surprises.”
“Last year, we thought we had a great chance at winning, and we were surprised we didn’t even place. This year, I thought it was likely we wouldn’t place at all, seeing the uphill battle of talking about COVID in 2024, yet here we are winning the whole competition,” he said.
Vasilescu admits he was discouraged because of his experience the year before and had a chip on his shoulder.
“Rather than letting that hold me back — and trust me, it almost did — I decided to just give it a shot anyway,” he said. “How you pivot, how you react and how you move forward is what determines your ability to endure and succeed.”
Director of Adult and Professional Studies Teresa Wilkerson first encouraged Vasilescu to enter the competition. She sticks to the advice she gave to students in 2023: “When you have an idea, you should run with it.”
“Take advantage of your networks and connections at Newman,” she said. “Share your idea, talk with people, give feedback and listen to what they’re saying. Don’t be afraid to change or pivot if you need to.”
How you pivot, how you react and how you move forward is what determines your ability to endure and succeed.
Nick Vasilescu, 2023 Newman University graduate
A promising future for Vasilescu
Since earning his Bachelor of Science in biology with a pre-medical concentration, Vasilescu is working toward his master’s degree in innovation and design from WSU. There, many of his classes focus on entrepreneurship, prototyping and agile product management.
“I have been able to build out Testkey and generate some more traction while I spend time continuing my education at WSU,” he said. “The goal is to license out the technology that Testkey has developed to get it on the market and in the hands of patients.”
Follow Vasilescu on LinkedIn or send him an email to [email protected] to learn more about Testkey and its updates.
About the Shocker New Venture Competition
The Shocker New Venture Competition, similar to the TV show “Shark Tank,” allows students, recent alumni and community members to take their idea or invention, develop a plan, pitch to investors and compete to launch their new venture.
First place won $25,000, second won $7,000, third won $4,000, and so on for the 2024 competition.
This program is hosted by the Koch Center for Entrepreneurship and sponsored by YESyoga, Commerce Bank Member FDIC, IMA Financial Group, Intrust Bank, Moral Holdings Inc., JKC Psych, NetWork Kansas, and UBS.
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