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Banner image: Panel judge Chris Vargas congratulates students from team Agraaze. (Credit: Omar Kaheel)
Imagine a world where shoppers can purchase “methane free” certified beef at the grocery store, landfills are no longer needed and cheese puffs come packaged in bags containing no plastic whatsoever. These were just a few of the many possibilities that were presented Tuesday night at The Forum. New Venture Challenge(NVC) 15 Climate Prize Night Showcase in Downtown Boulder
Five teams of entrepreneurs with plans to tackle climate change presented their progress to a panel, which was packed with 60 people. Each team competed for $20,000 in prize cash.
Top: Agraaze’s first place team and the audience choice Agraaze. Fynn Blake (left to right), Dasha Prosolova (right), Taylor Brooks-Murphy (left), Christopher Haworth (right), and Asa Peterson. Bottom: Steven Winterbach presenting Next Use Composting and Recycling. (Credit: Omar Kaheel)
“I was blown away by the solutions our students are creating in solving the climate crisis. Our students are innovating amazing ways to address climate challenges, such as a deep-sea vacuum and carbon credit platforms. I can’t wait to see these ventures grow!” said Erick MuellerThe event was hosted and hosted by Dr. Judith Sullivan, Executive Director of Deming Center for Entrepreneurship. She is also an adjunct professor at Leeds School of Business.
Team Agraaze, first place winner and audience favorite, was awarded $10,000 for their carbon-reducing concept: To add a very small amount of red seaweed to cows’ diets, shown in a Scientific studyTo reduce their methane emissions by 82%. These seaweed pellets would address a major issue in climate change: Cattle’s methane emissions account for 14% global greenhouse gas emissions. If cows were a country, they’d be the 3rd largest emitter in the world.
In just five years, Agraaze co-founders Asa Peterson and Fynn Blake presented, their company could allow ranchers in the U.S. and beyond to market their meat as “methane free” and give consumers concerned about climate change a better choice for their barbeque.
“Our team is so inspired to be the audience favorite and to win the grand prize, because it incentivizes us to move forward and actually to tell people how much we need to put action towards saving our climate, saving the animals and the humans that live on the planet,” said Dasha Prosolova, Agraaze team member. “It makes us believe in ourselves more and bring the project to life.”
The panel of judges from across the world not only evaluated the teams’ pitches and awarded prize money, they also gave constructive feedback to each of the teams on their presentations. Chris Vargas, an angel investor from California and sponsor of the event, Carla Bustamante, director of the Masters Degree in Entrepreneurship and Innovation at Universidad Adolfo Ibáñez in Chile and CU Boulder alumna, and Ameen Saafir, CEO and cofounder of Tynt Technologies, were engaged with and impressed by the caliber of the pitches made by the CU Boulder students.
They awarded second and $6,000 to the runner up Next Use Composting & RecyclingCo-founder and Leeds School of Business student, presenting. Steven Winterbach. Already up and running with 50 clients, this business currently based in the Denver metro area envisions “a world with no more landfills,” as they produce tons of methane and are quickly reaching capacity.
Next Use is determined to make recycling and composting as easy, affordable, and as simple as possible. By servicing not only single-family homes, but apartment complexes and cities, and as the only door-side compost and recycling service in the Denver area, Next Use Composting & Recycling may soon become a no-brainer.
Top: Erick Mueller, Executive Director of the Deming Center for Entrepreneurship, welcomes attendees to the event. Bottom: Participants discuss the pitches between pitches. (Credit: Omar Kaheel)
Third place and $3,000 went the way of Silvis MaterialsThey are creating 100% bio-based emulsions that could disrupt the petroleum market. The product is made from hemp biowaste and will replace plastic in the existing system. Major producers of plastic bags and other products, such as Mars, Pepsi and Dupont could simply switch out polluting plastic in favor of a more sustainable, cheaper material by the end of the decade.
The fourth-placed Urchin Merchants hope to sell a specialized suction device for divers and conservation groups. This device could help save kelp forests off California’s coast and other ecosystems from the exploding purple sea Urchin populations. Their device is six-times faster than existing methods to remove urchins form the seafloor. Additionally, the inexpensive mechanism these engineers are currently testing would allow ecosystems to recover and store carbon again in five years.
“Who the heck would have thought of an underwater vacuum?” said judge Chris Vargas, impressed by the unique solution in their pitch.
Kol was fifth in the competition and presented an app-based platform for carbon credit that would allow landowners a quick estimate of the annual revenue they could get for not developing their land. It was based upon publicly available forestry data. By “democratizing the carbon credit,” Kol could address deforestation and may encourage landowners to conserve the carbon on their property.
Now in its 15th year, the New Venture Challenge has been CU Boulder’s premier, cross-campus entrepreneurial program and competition, giving aspiring entrepreneurs the chance to build a startup through outstanding support and mentorship. The NVC general track will continue to be contested by the teams from last night. Agraaze, the first place winner, will compete in round one of the NVC competition ahead of the championship on April 12, 2022.
Taylor Brooks-Murphy from CU, a senior member of the Agraaze team, attributes their success largely to the program’s generous support.
“The folks that are willing to give their time and resources and just help out the teachers, it’s so selfless and it’s like nothing I’ve ever seen before,” said Brooks-Murphy. “It’s the only reason why we’re here.”
