VT KnowledgeWorks is pleased to announce the finalist teams chosen to present their business concepts in this year’s . The Virtual Preliminary is open to institutions outside the U.S. who have never participated in the .
The Global Challenge Virtual Preliminary encourages students to develop their entrepreneurial ideas and showcase their creativity, as well as enhance their understanding of the requirements for a successful business venture. University teams will test their business concept by confirming that their idea meets a customer need, occupies a differentiated position in the marketplace, and has a viable business model and value proposition.
The winner of the Virtual Preliminary will be reimbursed up to $5,000 in travel expenses for coach airfare to the U.S. The event begins with a two-day trip in Washington, D.C., to enjoy sightseeing trips to museums and monuments, and participate in private tours. The winning team will enjoy the rest of the event in Roanoke and Blacksburg, Virginia, for a week-long celebration of entrepreneurship, as they compete against other global finalist teams for the $25,000 grand prize in the Global Student Entrepreneurship Challenge.
The five student teams competing for $5,000 in airfare to the U.S. include:
- COORTech Reactor of South Africa: The COORTech Reactor is a novel (patented) nanotech reactor for textile wastewater treatment and reuse.
- Leñitos of Peru: Leñitos produces sawdust briquettes as a substitute product to the carob and eucalyptus firewood and sugar cane bagasse.
- SIOS of Chile: SIOS is a project designed to reduce the larvae fixation inefficiencies in the catchment period of scallop farming, improving the life quality of those who subsist on this activity.
- Siproex of Chile: Siproex is a system made to keep the perfect humidity level during fruit and vegetable exportation.
- Water for All of Peru: A system that purifies spring water using solar energy in order to expand the coverage of drinking water for human consumption and industrial use in Peru.
VT KnowledgeWorks encourages and enables creative entrepreneurship world-wide, through innovative curriculum, local business resource centers, and a global network of cooperating regions, all focused on three essential contributors to success: clear understanding of fundamental business principles; access to timely, relevant information; and meaningful personal and corporate relationships. It is a subsidiary of the Virginia Tech Corporate Research Center, supported by the continuing confidence and enthusiasm of its clients, sponsors and friends, both corporate and individual. Its world headquarters is in Blacksburg, Virginia, USA.
VT KnowledgeWorks sponsors include Allegheny Logistics Group, Apex Systems Center for Innovation and Entrepreneurship, Automation Creations, Inc., BAE Systems, BB&T, The Branch Group, Inc., Brown, Edwards & Company, LLP, Carilion Clinic, Celanese, City of Roanoke, Click & Pledge, Commonwealth Group, EDC, G.J. Hopkins, Inc., Meridium from GE Digital, National Bank, Plastics One Inc., Rackspace, Roanoke-Blacksburg Technology Council, Shentel, SMBW, SunTrust Bank , TechLab, Third Security, Town of Blacksburg, Town of Christiansburg, Union Bank & Trust, Virginia Tech Corporate Research Center, Virginia Tech’s Outreach and International Affairs, VPT, Inc., and Wordsprint.