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MBA Team Wins Second Prize in Worldwide Intel Competition for Renewable Fuel Business Plan

MBA Team Wins Second Prize in Worldwide Intel Competition for Renewable Fuel Business Plan

July 30, 2008

Alternative Energy, Business & Management, Press Releases

NEW YORK, NY – NOVEMBER 19, 2007 – A team of four Honors MBA (HMBA) students from Ben-Gurion University of the Negev won second place in the Intel Education® and University of California Berkeley competition last week at the UC Berkeley Haas School of Business. The results of this prestigious worldwide business plan competition were announced last Friday, in Berkeley California following the event, which was held Nov.13-15. 

The competition is designed to showcase global business opportunities that exhibit the greatest potential for positive change in society. Teams were judged on emerging technology products and services that could make a significant global impact.

The $10,000 second place prize was awarded for the Negev Renewable Green Fuels (NRG Fuels) business plan.  NRG develops innovative microalgae growth technology for biodiesel production. According to their plan, using NRG’s closed system for microalgae growth, biodiesel production costs can be reduced by up to 40 percent.  NRG Fuels’ system has an output capacity per area of land nearly 15 times higher than the best agricultural feedstock. 

The NRG Fuels project team was innovated and developed by BGU Professor Shoshana Arad, a leading researcher in algae applications at BGU’s Department of Biotechnology Engineering.  The BGU team included four students – Avi Avidan, Daniel Eisen, Noga Bar-El, and Roee Arbel – from the BGU Guilford Glazer School for Business and Management in Beer-Sheva, Israel.  At the finals, 21 teams from 11 countries presented business projects and the best groups were given the opportunity to receive funding for their ideas.  This is the first year that an Israeli team participated.

Prior to the UC Berkeley competition, the team garnered first place in the competition’s European stage in Romania, and third place in the Israel business plan competition (BIZTECH), organized by The Technion – Israel Institute of Technology.  The NRG group is one of eight HMBA student teams that participated in a business plan writing course.  Their participation in both competitions was made possible by support from Nina Brink, a Dutch businesswoman and member of the University’s Board of Governors.

About American Associates, Ben-Gurion University of the Negev

American Associates, Ben-Gurion University of the Negev (AABGU) plays a vital role in sustaining David Ben-Gurion’s vision: creating a world-class institution of education and research in the Israeli desert, nurturing the Negev community and sharing the University’s expertise locally and around the globe. Activities include showcasing BGU’s academic excellence and cutting-edge research through educational programs, events and informative communications. AABGU’s main purpose is to support Ben-Gurion’s vision and the university that bears his name by creating a community of Americans committed to improving the world tomorrow from the heart of the Israeli desert today.

Media Contact:
Andrew Lavin
A. Lavin Communications