A team from the Asper School of Business took home the prize for Best Business Plan – and possibly a big business deal – at this year’s Global Venture Labs Investment Competition.
Students Raif Richardson, Gary Gervais, Brady Fisher, Jeremy Muzyka and Elena Roussak presented a plan for Solvert Inc., a company that produces GeoTop, the most eco-friendly countertop on the market. It’s made from 95 per cent recycled materials and has the aesthetic diversity of laminate and the durability and appearance of granite or quartz.
The students were only 10 minutes into their presentation during the first round when one of the judges, who had experience in the construction industry, interrupted with an urgent question: “I’m involved in a 400 unit project right now and need countertops by August. Can you do it for me?”
Even though the team didn’t go on to win the overall competition, they did walk away with a possible $1.7 million order.
“Seeing our students perform well at what many refer to as the premier world-wide investment competition was truly a great experience for me,” says Jerrod Falk, the team’s faculty advisor and an instructor in the University of Manitoba’s Department of Accounting and Finance at the Asper School. “The group worked very hard in preparing for this event. They submitted a solid business plan and presented a fantastic pitch. They should be incredibly proud of their accomplishments.”
The Global Venture Labs Investment Competition recently took place at the University of Texas at Austin. Solvert was the only Canadian team to compete against 37 teams from around the world.
Earlier in the business plan competition season, Raif Richardson and Brady Fisher represented Solvert at the Georgia Bowl, which they won.
For more information please contact Judy Wilson at the I.H. Asper School of Business, University of Manitoba, at 204-474-8960 (firstname.lastname@example.org)