'WiseMat' get three awards from contest
Thammasat University's graduate business students pocketed three awards, including the first runner-up trophy, from the Eighth Asia Venture Challenge business plan contest last week."We are very proud to win the prizes and to present our project to others. Although there was a lot of pressure and many obstacles, we did our best," Chollada Rojrung-tavee, leader of the "WiseMat" team of four second-year master degree students, said this week.
WiseMat also scooped the 60-Second Elevator Pitch and Best Presentation awards at the contest held at the Athenee Hotel under the theme of "Passion Driving Entrepreneurial Success".
Thammasat had championed the Asia Venture Challenge three times before and has always been among the top competitors. Based on a research project of the NSTDA Academy, the team took just nine months to build a strong case for an innovative, lightweight aggregate concrete called "Sylite" to be mixed with concrete in construction.
The highly durable material, which came at a cheaper price, could help reduce costs by 17 per cent and also save transport time because 43 per cent more of the material could be transported per trip compared to other materials. It would also create up to Bt20 billion in business opportunities per year.
The team spent another month or so to improve and adjust their work. The three other team members were Kittikarn Tantanasarid, Phonphat Lawjarungpasatgon and Kong Teerachutimanant.
The team's strength was their work experience in and knowledge of the construction industry, but its disadvantage was the relatively short time to prepare.
The team was looking next to join the Venture Labs Investment Competition in Texas of the US from May 2-4.