It’s always encouraging to get a glimpse of the next generation of sustainability leaders, and that’s just what Walmart executives and associates got the opportunity to see with this year’s Better Living Business Plan Challenge. There were plenty of ideas that served the triple bottom line, and a lot of creativity and ingenuity.
In the end, a team from the University of Michigan took home the Grand Prize of $20,000 for their business plan: Covaron, an advanced material that can outperform high-grade engineering ceramics for a fraction of the cost and embedded energy.
Walmart and Net Impact have been working together on the Better Living Business Plan Challenge for six years now, giving students the chance to pitch their sustainable business ideas to a panel of judges that includes business and sustainability experts. They get feedback from industry professionals and compete for seed funding to implement their business plans. In addition to Michigan’s grand prize, a team from Massachusetts Institute of Technology received First Place and $10,000 for their idea, Takachar, which turns landfill waste into charcoal briquettes. These briquettes can then be used by families in Mombasa, Kenya for cooking and heating.
The innovative thinking sparked by competitions like this reinforces our excitement about the future of sustainability in this country and around the world.
It’s also worth mentioning the semi-finalist teams, who contributed unique and innovative projects: Bainbridge Graduate Institute; Carnegie Mellon University, Tepper School of Business; University of Arkansas; University of California, Santa Barbara, Bren School of the Environment; University of Miami School of Business Administration; University of Virginia, Darden School of Business.
We congratulate this year’s winning team and are eager to see how they bring their plan to life.
