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2010 Walmart Better Living Business Plan Challenge
Congratulations to the winning team from the University of Michigan's Ross School of Business, including Net Impact members Russell Baruffi, Brian Katzman, and Matthew Schaar.
Their plan: Silutions, a revolutionary and less environmentally harmful method for producing silane gas for the electronics industry. (Silane is a critical chemical used to manufacture electronics such as flat-panel displays, semiconductors, and solar panels.) The winning team received $20,000 to help implement their business plan.
The runner-up: Entogenetics, from Duke’s Fuqua School of Business, a new method of creating spider silk using silkworms in a sustainable process. This fiber can then be used to create a stronger, lighter bullet-proof vest, among other things.
And congratulations to all semifinalist teams:
Arizona State University
Columbia University
Rensselaer Polytechnic Institute
University of California, Berkeley
University of Maryland
University of the Ozarks
Vanderbilt University
The Challenge
The competition challenged students to invent sustainable products or develop sustainable business solutions and present them to a panel of Walmart executives, suppliers, and environmental organizations. In addition to gaining an audience with some of the top business and sustainability leaders in the United States, the winning team received $20,000 to invest in their business or product.
Walmart developed the Better Living Business Plan Challenge to encourage entrepreneurial expression and growth. The focus of business today must take into account not only the profit potential of a business venture or new product, but also the effect on the environment and on people.
The Challenge provides students with a venue to develop confidence in presenting their ideas to world business leaders, to receive feedback and constructive coaching to be successful in selling their ideas, and to make seed money available to help young entrepreneurs make their ideas a reality.
If you have any questions related to the competition, please email walmartchallenge@netimpact.org.
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