Business plan competition paves road for entrepreneurs

For the winners of this year's Harriet Stephenson Business Plan Competition, the road less traveled proved to be a profitable one, as the team composed of Albers MBA students won $10,000 to invest in their chosen company—GreenStone International—which aims to implement an enzyme that creates more durable and environmentally
friendly roads.

"This technology cuts the cost of building roads and allows developing countries to build infrastructure in an environmentally friendly, completely organic way," said Emily Marshall, one of the team members. "We got involved with the project because we saw the potential in this product, especially in thedeveloping world."

Marshall worked with James Spaulding and Heidi Han Yu to develop a business plan for GreenStone International after the vice president of sales for the company approached Steve Brilling, director of the entrepreneurship center at Seattle University. They presented this plan May 12 at the Seattle U's annual Competition.

Although the technology behind GreenStone International was developed 15 years ago by accident through microbiology research in Argentina, those who invented it had little business knowledge and never marketed the product successfully, according to Marshall. However, the project was picked up by a group of three Seattle businessmen, who formed GreenStone International last year. This group of businessmen approached Seattle U because of its potential to attract investors and the opportunity to present directly to investors at the competition.

"It was an incredible opportunity to work with this caliber of executives and learn so much from it," Marshall said.

The competition, started in 1998, was designed by Seattle U faculty members to help launch new business ventures.

"We are very proud of the quality of the Business Plan Competition participants this year," said Brilling, who also played a role in helping Marshall's team. Because of his connections with those creating GreenStone International, he was able to involve students from Seattle U. He connected with Spaulding, who was looking for opportunities to compete in the business plan competition with GreenStone International.

Marshall, who won the business plan competition last year, is currently employed by the business she designed her plan for. She was able to get involved this year because of that experience.

Yu became involved through her entrepreneurship experience in China, where she was successfully able to start two companies.

All three team members are open to the possibility of working for GreenStone International in the future, depending on whether or not they can fund the future business ventures. They are currently in negotiations with a variety of investors, especially a large interested party in Mexico, to try and get the capital necessary to finance the business.

Marshall is hopeful the team will acquire the necessary funds to start GreenStone International, especially since the success of her first business plan competition lead
to employment.

"It's not just a competition. It starts businesses," Marshall said.

In addition to working with faculty at Seattle U, many community members were also involved with the project, including investors who volunteered their time to help with the business plan.

First runner up in the competition went to Safety Innovation, which develops garments that help reduce the spread of infectious diseases through highly protective outerwear. It was lead by Albers MBA student Mehul Mediwala and Seattle U law school graduate Brian Howe.

Olivia may be reached at ojohnson@su-spectator.com