Startups tackling health and safety challenges took centre stage at this year's AXA Startup Angel competition, with the winners securing not only funding but also crucial business insurance to help manage risk as they grow.
North London entrepreneur Princess Ebi, founder of Main Squeeze, and Dyamotech’s Simone Panella were named the top prize winners, each receiving £25,000 to develop their businesses. Alongside the funding, AXA UK will provide a year’s business insurance, plus mentoring from a panel of successful founders, the AXA Startup Angels, who offer guidance on scaling and managing early-stage companies.
With startups often vulnerable to operational risks, from supply chain issues to liability exposures, the package of funding, cover, and expert advice is intended to provide a more secure foundation for growth.
Colorful solutions for chronic conditions
Ebi launched Main Squeeze in 2023 after a friend with a chronic condition had to wear compression socks but struggled with the limited, clinical designs available. Her colorful products aim to remove stigma while maintaining medical effectiveness.
The company currently offers two sizes at one compression strength but plans to expand into higher-grade options and new styles, including tights and longer socks. Ebi said the AXA package will not only help with product development but also reduce uncertainty in areas like liability cover, giving her business room to focus on growth.
Affordable safety tech for grassroots sport
Meanwhile, Panella developed Dyamotech after a concussion cut short his rugby career. His innovation, a headband equipped with sensors to measure the force and frequency of head impacts, is designed to make concussion monitoring affordable for schools and grassroots sports clubs.
Professional-grade devices exist but are too expensive for non-elite teams. Panella's lower-cost model could fill that gap and help coaches adjust training to reduce exposure risks for young players.
Insurance as a growth enabler
Julie White, AXA UK's small business champion, said the competition demonstrates how insurers can play a wider role in fostering innovation.
"Small businesses are the backbone of the UK economy, and we're delighted to be able to play a small part in helping the entrepreneurs of tomorrow to get a foot on the ladder," White said.
Four runners-up also secured support packages, including mentoring and promotional opportunities, with prize bundles valued at more than £18,000.
