| |
FOR
IMMEDIATE RELEASE
DATE:
March 6, 2007
Curb Carbon, Ltd., a venture created by two students of
ICFAI Business School in India, has won the third-annual
UW Global Social Entrepreneurship Competition (GSEC), held
at the University of Washington Business School February
26 to March 2.
The winning team intends to benefit both the environment
and the lives of farmers in India by encouraging the cultivation
of Jatropha, a hardy plant whose seeds can be extracted to
produce biodiesel, a cleaner-burning, renewable fuel. The
competition’s grand prize was $5,000 in startup funding.
"There’s a saying that you cannot sow and reap
in the same day," said Curb Carbon co-founder Manas
Mondal, for whom farming is the family’s ancestral
business. “If
this venture can help farmers and help control pollution,
that’s a step in the right direction.”
Second place went to Dr. Seed, another agricultural sector
entry, from Peking University in China. Dr. Seed plans to
deploy a patented seed growth technology that uses plasma
treatment to increase resistance to extreme conditions and
overall plant yield. Its founders earned $2,500 in seed money.
The judges’ top two finishers also tied for first place
in the People’s Choice Awards, elected by visitors
to the GSEC poster session, the opening event of the week-long
competition.
This third year of the GSEC was a truly global affair, with
more than $20,000 in travel scholarships aiding the participation
of social entrepreneurs from universities in Ghana, Morocco,
India, China and Kazakhstan, where founders have seen firsthand
the devastating effects of pollution and poverty. In addition,
there were two entries from the University of Washington
as well as one from Johns Hopkins University and Georgia
State University.
Among the 11 competing social ventures were plans to sell
low-cost, mobile wind turbines to nomadic herders in Kazakhstan;
to create a European Union market for organic produce grown
by Ghanaian farmers; and to lease and reforest land from
small farmers in Central America to spur sustainable hardwood
timber production.
"GSEC is a unique opportunity for students from around
the world to develop plans for businesses that benefit not
only
the firm’s stakeholders but also provide a social benefit
to the surrounding community," said Jane George-Falvy,
GSEC faculty coordinator. "Unlike typical business plan
competitions and the conventional business model that primarily
evaluate financial return on investment, GSEC highlights
the importance of a business’ impact on social issues
like poverty, health and quality of life."
The venture plans were judged on their impact on quality
of life in the developing world, implementation feasibility
and financial sustainability.
The UW Global
Business Center organized and hosted the event,
with support from the Business School's Center
for Innovation and Entrepreneurship.
Premier sponsors included Howard and Lynn Behar, Microsoft,
Symetra Financial and the UW Business School, with additional
sponsorship from Fluke/Danaher, Sefrioui-Badissy Foundation,
and in-kind sponsorship from the Boeing Co., Ethos Water,
Ivars, Mezza Café, Pioneer Human Services and Specialty's
Café and Bakery
|
