Indian team wins UW Global Social Entrepreneurship Competition

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