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Young Entrepreneurs Focus on Sustainable Technologies

Submitted by: Foundation for a Sustainable Future

Categories: Finance, Clean Technology

Posted: Dec 18, 2007 – 06:45 AM EST

 

BizPlan Competition draws Green Entrepreneurs

Sustainable Technology Business Plans Increase in Quantity and Quality

SAN FRANCISCO, CA - December 18, 2007 - Sustainability-focused entrants to the William James Foundation’s business plan competition sponsored by the Foundation for a Sustainable Future (FSF) garnered a higher number of applicants than expected, reflecting an overall boost in interest by budding entrepreneurs launching companies that represent a better future.

On December 7, the first round of 20 finalists was selected, having been culled out of a total applicant pool of 65 entrants. "What we're seeing in this round is a high degree of detail and realism compared to the past, in which many business plans were academic exercises," remarked Ian Fisk, executive director.

Out of this preliminary pool, three top finalists will be chosen in the spring as a result of a rigorous vetting process by judges consisting of entrepreneurs and financiers. Everyone will be invited to Washington DC for the William James symposium in March 2008 when winners will receive cash prizes. They will have a chance to double their prize money if their business proposition excels in the William James' traditional social criteria as well as the FSF’s added sustainability criteria, plus get added credibility when they seek venture financing.

The Foundation for a Sustainable Future, a San Francisco-based organization, sponsors programs and projects that effect change through market-based solutions in the social, political and economic paradigms needed to enable a sustainable future. FSF is adding value to business plan competitions all around the world to convey its' key message. As FSF founder Sarosh Kumana says, "Business is an integral part of the solution to the global sustainability crisis. Entrepreneurs who solve resource, toxics and environmental problems will be richly rewarded. FSF's competitions catalyze this process."

Kumana sees "sustainable technology" as the new engine of economic growth, applying to many industry segments, such as energy, transportation, engineered materials and biotech to name just a few. "The whole game needs to change. Unless sustainability is profitable, it is not likely to have the necessary impact. There are many new technologies that do change the game and would be profitable – but they have to contend with the inertia of the status quo. At FSF, we are changing the equation so these new technologies make it to market. Our intention is to ensure that the world continues to be livable for the indefinite future," he said.

Since its first sponsorship last year of a sustainability track for the prestigious business plan competition at Carnegie Mellon University's Tepper School of Business, which was won by a team from China, FSF has become a sponsor of other greentech venture competitions around the world. In February 2008, an FSF-sponsored competition will take place at the prestigious IIFT business school in New Delhi India.

For more information, see www.sustainable-future.org/projects

For more information, please contact:

Jeanne Trombly
Phone: 415-336-4505
Phone 2: 415-336-4505
Sarosh Kumana
Phone: 415-425-5184
Phone 2: 415-861-4554

For more from this organization:

Foundation for a Sustainable Future

 

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