News

Sustainable Business Plan Recognized at Global Entrepreneurship Competition

April 06, 2011

A team of three Moore School students recently placed third in The mai Bangkok Business Challenge @ Sasin 2011, a global new venture plan competition held in Thailand.

Team members included first-year IMBA students Martin Bauer (German Track), Darren Sheinberg (Chinese Track) and Wyatt Franks (German Track).

Co-hosted by the Market for Alternative Investment (mai), Thailand’s stock exchange for medium-sized public companies, and Sasin Graduate Institute of Business Administration of Chulalongkorn University, this year’s competition sought to bring sustainability concerns to the mainstream.

The Moore School team entered a business plan, CarbonForecast, for the competition and was the only U.S. group invited to the finals in Bangkok. Business plans were evaluated not only on their venture's economic soundness, but also their abilities to address relevant social and environmental concerns.

Using technology developed by Dr. James Morris of the University of South Carolina, CarbonForecast allows customers to measure and establish a value on the natural carbon capturing effects of wetlands and marshes. In addition, CarbonForecast enables users to develop a plan to maximize the carbon mitigation of a wetland, which provides an economic return for the customer.

Dr. Richard Robinson was faculty advisor for the team. “CarbonForecast was developed during his Global Entrepreneurship class in the fall and has grown ever since with his guidance,” said Bauer. “His commitment to developing entrepreneurship at USC is great.”

“The entire experience was a first class event, from the world-class quality of participating teams, the impressive lineup of judges, the staff of Sasin University and even the accommodations. From the moment we arrived we were welcomed and delighted to be a part of this event,” said Bauer. 

Funding was provided through the generous support of Dr. Robinson, Dean Kress and the Faber Entrepreneurship Center at USC.

“The competition was a great opportunity to showcase the Darla Moore School of Business, the IMBA program and especially the Faber Entrepreneurship Center on an international level. None of this would have been possible if not for Dr. Robinson and the Faber Entrepreneurship Center.” 

The competition, themed “Seed of Success for Sustainable Future”, included 66 teams from 21 countries on 6 continents. Teams gave three presentations and one 99-second pitch.

CarbonForecast made it to the final round of the competition and ultimately placed third, winning a $1500 prize. Additionally, the team won the “Recognition of Environmental Concerns” award.

The competition was broadcast live on TV and the internet via The Money Channel. Friends and family watched from Germany, China, Latin America and the U.S.

Written by Dru Cameron