Renewable printer ink that grows from algae sounds like something out of a science fiction movie.
But it’s actually the business plan that won first prize at the University of Colorado Denver’s (CU Denver) 2015 Jake Jabs Center for Entrepreneurship Business Plan competition Wednesday.
Colorado State University students Scott Fulbright and Steve Albers won $10,000 for Living Ink Technologies, a company that uses algae to transform carbon dioxide into ink.
Both students, who are PhD candidates in CSU’s Cell and Molecular Biology program, developed the ink after Fulbright became frustrated searching for a unique birthday card for his grandmother’s birthday. The ink can be used on greeting cards and becomes visible when placed in the sun.
The Jake Jabs Center for Entrepreneurship Business Plan, now in its 14th year, offers $50,000 in prizes for startups that have little to no revenue and have yet to receive investment. Thirty teams from nine universities participated in this year’s competition.
“The Business Plan Competition provides entrepreneurs with an opportunity to test their ideas and receive meaningful feedback on their business plans,” said Madhavan Parthasarathy, director of the Jake Jabs Center for Entrepreneurship at CU Denver. “It is our goal is to be the best entrepreneurship center in the country.”
Living Ink Technologies will take home the $10,000 grand prize, with $5,000 going to the second place winner Pronto Express. Pronto Express creator Derek Safko’s business seeks to “revolutionize” the car industry by creating a three-minute was guarantee.
CREA+E Coffee, a company led by Jose Mota that aims to connect coffee farmers to the end consumer, took third and a $2,500 prize.
Runners-up also took home cash prizes.
View original article at: Ink from algae nabs grand prize at CU Denver business competition