Max-IR Labs, Photosynthetic B.V., and OptiCardio Awarded Top Three Places at 2025 SPIE Startup Challenge

The annual pitch competition champions photonics innovation in healthcare and deep tech

BELLINGHAM, Wash.--(BUSINESS WIRE)--On 28 January, at a ceremony during SPIE Photonics West, Max-IR Labs was announced the winner of the $10,000 top prize at the 15th annual SPIE Startup Challenge. Its AquaCarbon Monitor is set to facilitate carbon credits with precise CO₂ monitoring in water systems.

Photosynthetic B.V. and its Volumetric Micro-Lithography product which enables the rapid production of complex 3D devices with submicron features, received $5,000 for second place. OptiCardio came in third, winning $2,500 with their spectroscopy-enabled device for real-time guidance to reduce the recurrence rate of ablation procedures for atrial fibrillation.

The SPIE Startup Challenge, a pitch competition held annually by SPIE, the international society for optics and photonics, showcases new businesses, products, and technologies that address critical needs by utilizing photonics in the areas of healthcare and deep tech. This year’s seven finalists included innovations in medical applications, environmental monitoring, and manufacturing.

“Our participation in the SPIE Startup Challenge has been really great for putting me into the mindset of seeking investments and talking to investors,” said Max-IR Labs Vice President of Technology Trey Daunis about winning the competition. “I especially found a lot of value in the mentoring sessions that we did before the presentations, which were really helpful. Being one of the winners feels pretty good, and the money will come in handy as we move forward with our business plan.”

“Being part of the SPIE Startup Challenge is a great opportunity and we really appreciate being here,” noted second-place winner Photosynthetic B.V. CEO Alexander Kostenko. “I think it's a very relevant stage, and we had good sessions with the judges who listened critically to our pitch, and gave us very good, tough-love feedback.”

“As a fresh graduate PhD student – I just defended last fall – I feel so encouraged to be part of the SPIE finals,” added OptiCardio Co-founder and CEO Haiqiu Yang. “It's definitely surprised me, and it's super encouraging. It’s also given me the motivation to continue our business. And being part of the Challenge was a really good chance to connect with others and get professional feedback from the judges. I believe that will be super helpful moving forward as well.”

The 2025 SPIE Startup Challenge was supported by Founding Partner Jenoptik, Lead Sponsor Hamamatsu, and Supporting Sponsors Luminate and Thorlabs. The competition judges who vetted the applicants for their business models, financial cases, and competitive advantages included Jenoptik Vice President Marc Grahl; Hamamatsu Ventures Principal Robert Warren; Edmund Optics Senior Director of Global Strategic Marketing Agnes Hübscher; Launch Team President Michele Nichols; Advancing Photonic Technologies Director Christine Galib; and ams OSRAM Senior Director and Head of Product Line Automotive & Vital Signs Markus Arzberger.

Light-based technologies enable developments in a proliferating number of areas, from healthcare and high-speed communications to quantum computing, AR/VR/MR, and self-driving vehicles. The annual SPIE Startup Challenge provides a distinctive and vibrant platform for optics and photonics startups from across the globe that are creating novel products, applications, and technologies. Startup Challenge winners that have gone on to wider commercial success include Cellino Biotech, Double Helix Optics, PhotoniCare, C. Light Technologies, Circle Optics, and In A Blink.

About SPIE

SPIE, the international society for optics and photonics, brings engineers, scientists, students, and business professionals together to advance light-based science and technology. The Society, founded in 1955, connects and engages with our global constituency through industry-leading conferences and exhibitions; publications of conference proceedings, books, and journals in the SPIE Digital Library; and career-building opportunities. Over the past five years, we have invested more than $25 million in the international optics community through our advocacy and support, including scholarships, educational resources, travel grants, endowed gifts, and public-policy development. www.spie.org.