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Rensselaer Graduates Win Top Environmental Prize In Oxford University Business Plan Competition
21st Century Challenge Competition designed to
encourage sustainable new business ventures
Troy, N.Y. — Ecovative Design LLC, a company started by two
recent graduates of Rensselaer Polytechnic Institute, was
recently awarded £10,000 (approximately $20,500) as a winner of
the 21st Century Challenge Competition. Hosted by Oxford
University’s Saïd Business School, the international business
plan competition challenged participants to develop innovative,
sustainable new business ventures that will help solve the
major social and environmental challenges of the 21st
century.
Ecovative Design LLC, which is now located in the Rensselaer
Incubator Center, was formed by recent Rensselaer graduates
Eben Bayer ’07 and Gavin McIntyre ’07. The company won the
competition’s “Tomorrow’s Planet” category for its development
of environmentally friendly organic insulation. Made from waste
agricultural materials, water, and mushrooms, the organic
insulation could replace the traditional foam insulations in
homes, which require petroleum for production and are not
biodegradable.
Participants were required to submit a five-page business
plan focusing on one of three challenge categories that
included: “Tomorrow’s Planet,” focused on environmental
challenges; “Tomorrow’s People,” concentrated on healthcare and
medical challenges; and “Tomorrow’s Wealth,” centered on
challenges of social inequality and the distribution of wealth.
First-round judges scored each entry and reduced the field to
nine finalists — three per category.
The nine finalists presented their business plans to a panel
of judges that included representatives from
PriceWaterhouseCoopers, the Financial Times, and the
National Endowment for Science, Technology and the Arts (NESTA)
— the largest single endowment devoted exclusively to
supporting talent, innovation, and creativity in the UK.
An overall competition winner received £35,000. Winners of
each challenge category received £10,000. Open to all
for-profit, commercial ventures that have received less than
£250,000 (roughly $515,775) in funding, the competition
received more than 180 entries from 23 countries.
The insulation, called Greensulate™, is created by pouring a
mixture of insulating particles and nutrients into a panel
enclosure, and injecting it with mushroom cells that digest the
nutrients and produce a tightly meshed network of insulating
particles and mycelium. The result is an organic composite
board that has a competitive R-Value — a measurement of
resistance to heat flow — and can serve as a firewall.
The organic idea was born during a class Bayer took called
Inventor’s Studio, where students were challenged to
create sustainable housing. Bayer was tasked with improving the
insulation of a conventional home.
“Eben Bayer and Gavin McIntyre are outstanding examples of
the innovative and forward-thinking students that Rensselaer
educates,” said Rensselaer President Shirley Ann Jackson.
“Recognition of their environmentally friendly organic
insulation — which has implications in the areas of green
building, energy efficiency, and sustainability — as one of the
best inventions in this international competition affirms that
these recent graduates have what it takes to make a difference
on the global scale.”
“What Eben and Gavin are doing with organic insulation has
the potential to represent a truly disruptive technology,” said
Burt Swersey, a lecturer in Rensselaer’s department of
mechanical, aerospace, and nuclear engineering, and Bayer’s
teacher in Inventor’s Studio. “I applaud them for
their vision and their passion to use technology to create
significant value for all. Organic insulation holds the promise
of creating a win-win-win situation: better insulation that
saves energy, at a lower cost, and in harmony with the
environment.”
Last year, the organic insulation was the winning entry in
Rensselaer’s “Change the World Challenge” idea competition,
which awards $1,000 for viable ideas that make the world a
better place. Bayer was also a finalist in the
Lemelson-Rensselaer Student Prize competition, the prestigious
award given to a senior or graduate student who applies
technology in a new way.
Ecovative Design LLC also recently won first place at the
Innovation Showcase competition sponsored by the American
Society of Mechanical Engineers (ASME) in collaboration with
the National Collegiate Inventors and Innovators Alliance
(NCIIA) and Idea to Product (I2P) competitions.
Bayer and McIntyre both graduated with dual degrees in
mechanical engineering and product, design, and innovation
(PDI). A studio-based degree program, PDI melds the technical
sophistication of design and engineering disciplines with the
social and cultural aspects found in an arts and humanities
education to produce graduates not only equipped to design
innovative products, services, and systems — but who can apply
their talents toward addressing the social and environmental
needs of the 21st century.
Video
of Eben Bayer ’07 and Gavin McIntyre ’07 delivering their
presentations at Oxford University.
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Published
December 5,
2007 |
Contact: Amber Cleveland
Phone: (518) 276-2146
E-mail: clevea@rpi.edu |
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