The Genesis of Business Visionaries
28 Sep 2011
The University of Sydney's Genesis Students in Business Competition has once again affirmed itself as key testing ground for future entrepreneurs and business visionaries.
With the final of the 2011 competition held last Friday, key academic and industry figures were once again left highly impressed by the concepts presented by participating students.
"The competition is a fantastic way for entrepreneurs of the future to gain their first real experience of pitching and implementing exciting new ideas," says competition co-organiser Andrew Lee. "This year all the entries were extremely good, with participating teams presenting some great ideas."
The 2011 competition comprised two streams - one centred on technology with a view to enabling business, and the other based around social entrepreneurship, encouraging students to come up with business models that offer benefits to the wider community.
As part of the judging process, the four finalists from each category made 10-minute presentations to a judging panel comprising of academic and business representatives including Professor of International Business Sid Gray and Michael Gilbert, Director at Chesterton International.
Honours in the Best Innovation Capital Award category were shared by two teams - Beehive (who came up with an exciting web-based production technique utilising a laser-cutting machine that produces designs or artworks submitted via the Internet) and Mybo, who pioneered an online appointment booking system for the health care industry that enables users to locate relevant health service providers and schedule a consultation. The Best Social or Not-For-Profit category was taken out by a group called Hessex, who presented an idea for providing clean energy to poor villages in Africa and Asia via a solar panel installation that provides long-term benefits to host communities.
While each winner received $3000 to further develop their business concepts, Andrew Lee says all concepts and models presented have strong potential for future application.
"It's important to recognise that all participating finalists presented highly original ideas that should one day give rise to innovative companies that will do extremely well."
Student presents at the final of the 2011 competition held last Friday.
Finalist showcases prototypes to support his business plan concept.