Shortlisted Ideas
View the shortlisted ideas for 2009 competition>>
View the winning ideas for 2009>>
2009 Winners
GreenLease
Why did we participate?
The original business model had been developed within a larger team as part of an MBA entrepreneurship course. Two of us (Dan Saunders and Brett Prior) believed there was an opportunity to develop the business model further and test it under the scrutiny of the CTC judges. We both had a keen interest in entrepreneurship and thought CTC 2009 would be a good chance to develop our entrepreneurial skill set further.
What was great?
3 elements of CTC really stood out. Firstly, it was the opportunity to network with students from different schools that had skills that were both different and complimentary to ours. This meant we could bring in our third team member (Daniel del Conde) who really helped us to balance the team, bringing new knowledge and ideas. Secondly, access to the mentors really helped us to develop the idea. They were able to highlight potential issues that we had not been aware of. This helped to resolve and mitigate many of the issues, de-risking the business plan. Thirdly, presenting to professional investors is always a fantastic learning experience. The judges tested our business model and provided a true investment pitch experience
What will become of the idea and its business plan?
Shortly after the CTC we completed our studies and the team disbanded. However the belief behind the GreenLease business plan remained and one team member, Dan Saunders, decided to develop the business model further. After further research and professional support the GreenLease business model has evolved into a new business model, marketed as 'Decarbon', with an associated company incorporated.
Hydrogen Production from Renewable Biomass
Why did we participate?
Two main reasons incentivized us to participate. First of all, we were interested by the topic of this challenge, namely its cleantech aspect.
We all had some background studies on energy consumption, and Stijn had even developed a clean technology during his master thesis. The next step was thus to bring the idea from the lab scale to a concrete business plan, considering the technical potential, relevance to the industry and market needs. The second reason was that we were motivated to prove our skills outside of the university-frame, to cross the English Channel and go to the London Business School to experience this different environment.
What was great?
We had no idea what the 'challenge' would consist of, but we were well prepared and fully motivated to work on it. When hearing we had to assess the risks of our business and determine the 'proof-of-concept'
funding, we immediately knew we would have to change more than half of our content and slides. Hence, despite all our foregoing efforts, the first hours after receiving this challenge were consequently intensive, tiring and a little de-motivating. But, that's what a challenge is all about! In the end we were able to identify the main risks of our business, and felt even more confident in going to the mentors the next morning. These mentors actually provided us with confidence and some last-minute directions.
What will become of the idea and its business plan?
The current technology is already protected by an international patent, but Stijn Van de Vyvers first wants to complete his PhD in order to gain more experience in the field of catalytic technology. Nevertheless, several existing companies have shown their interest in the application of the clean technology.
And by the way, it is an unwritten rule that the first business plan only has one clear destiny, to and up in the trash can. But as with most rules, we are there to prove them wrong!
Team?
Stijn Van de Vyver is now focusing on research and development of new chemocatalysts at the Centre for Surface Chemistry and Catalysis (CSC) of the K.U.Leuven. The main subject of his PhD concerns the upgrading of renewable resources into biofuels and value-added chemicals.
Pieter Heyns is now employed by the MITT Management Institute, an institute with the mission to accelerate the growth of management talent.
Meggie Vervelghe is currently employed as an analyst by Ernst & Young.
Nicolas Kint is studying a MSc in management. He is enrolled in the very first Global Entrepreneurship Program, a unique program initiated by EM Lyon Business School (France), Babson College (USA) and Zhejiang University (China).
