12 December 2006
Four Monash University MBA students have scooped the pool at this year's John Heine Entrepreneurial Challenge, Australia's only national venture capital competition for graduate students.
The Monash MBA team, Zipper Enterprises, were the overall winners, defeating teams from universities across Australia, with their new concept in water transportation. They will now go on to represent Australia at the 2007 Global MOOT CORP Competition to be held in Austin, Texas in May next year.
In addition to the overall win, the team comprising of Mr Denis Jigau, Mr Ben Haan, Mr Cherian Jacob and Ms Koshala Canagasooryam also took out the iLab Technology Incubator Award and the Elevator Pitch.The team's academic advisor was Associate Professor Peter Reed.
As the overall winners the team will receive $10,000 start up funds, up to $15,000 in airfares and accommodation to attend the international Texas finals and $3,000 worth of legal services from McCullough Robertson Lawyers.
The John Heine Entrepreneurial Challenge is a national business planning competition for new venture start-ups seeking outside equity capital. At the Challenge, teams present their business plan and pitch their enterprise to venture capitalists, entrepreneurs and CEOs.
Monash MBA director, Associate Professor Peter Reed, said the team has developed a new business venture that has a real prospect for successful commercialisation.
"In developing their business plan the students brought together their business knowledge and expertise enhanced during the course of their Monash MBA," Associate Professor Reed said.
"Additionally the competition provided a vehicle for students to exhibit their leadership and personal skills, a strong focus of the Monash MBA program.
"The judges were most impressed with the quality of the team's business plan and their exceptional presentation skills."
Zipper Enterprises developed the Zipper, a new form of water board that is cheaper, safer to use, and cleaner than any other jet ski on the market. It provides people of all ages with the opportunity to explore and enjoy water-ways. Weighing only 12 kilograms, the board can be strapped to the roof of a car in a similar way to surfboards.
The competition was held in Brisbane on 29 November to 2 December and was hosted by the Brisbane Graduate School of Business at Queensland University of Technology.
For more information contact Ms Jacqui Golding, Faculty of Business and Economics, on +61 3 9903 2265 or 0438 009 621.
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