The winners of a University-sponsored business competition imagined a chemical processes that would change sludge runoff from paper mills into natural fish feed. The idea, concocted by students from Mahidol University in Thailand, and the group’s skill in selling it, garnered its members a $25,000 prize.
From around the globe, 25 teams competed in Portland last weekend at the University’s New Venture Championship, said Randy Swangard, managing director for the University’s Lundquist Center for Entrepreneurship and the main organizer for the event. The event gave MBA students the chance to develop a business idea and pitch it to a broad array of professionals.
“This is high-level stuff,” said Swangard. “It may be a great idea, but it takes people with money to invest in it. And there are a million great ideas.”
The second place team from Stanford University developed an implant valve that would save millions from having to wear a colostomy bag, Swangard said. In third place, San Diego State
University presented citywide recycling bins covered in advertisements, 90 to 100 of which are already in use in San Diego.
The event consisted of three sections, Swangard said. Each team had one minute Thursday evening to sell their product to a judge, which Swangard compared to stepping into an elevator with someone you wanted to do business with, and having twenty floors to sell them your idea. The Georgia Tech team won the section, and a $1,000 prize.
On Friday morning, teams separated into five different tracks each judged by five members of the entrepreneurial community, Swangard said. The teams presented for 15 minutes and answered judges’ questions for 20.
Nathan Lillegard, a second year MBA student and participant in the event, said this longer competition was where things went south for the Duck team. Lillegard, along with Doug Gabbardand Amelie Brazelton, presented a genetic process by which the growth period for a plant is dramatically shortened. Instead of taking 20 years for a blueberry bush to mature, with the process they call FloraGenex it takes only ten, said Lillegard.
FloraGenex “helps plant breeders eliminate an entire generation,” Lillegard said.
Lillegard said the team nailed the elevator round, but broke down in the Saturday morning semi-finals.
“We had the best presentation of the year,” Lillegard said. “We were on.”
After the group members “had some issues explaining how we make money and how we expect to grow the company,” Lillegard said, they walked away from the round dejected.
But, Lillegard said, their dejection did not last.
“It’s business education done right,” Lillegard said.
Lillegard said the Venture Championships taught him and his team members “how to take an idea to market.”
Lillegard said he enjoyed meeting with the other groups, especially those from Harvard University, San Diego State and Mahidol.
Mahidol went on to defeat four other groups for the first prize. The final round consisted of the same format as the semi-finals, but in front of all 60 judges, the other teams, and representatives of the more than 15 corporate sponsors, Swangard said.
Lillegard said the Mahidol team put on a show, wearing matching uniforms and knowing every aspect of their pitch.
“It was just really intense,” Lillegard said. “They’re just really amazing.”
Lillegard said his group plans to travel to another competition in Texas to try again with FloraGenex.

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