BENGALURU, November 18, 2016 /PRNewswire/ --
Global animal health and nutrition company, Alltech is delighted to announce the 2016 winner of the Alltech Innovation Competition, India, hosted in Bengaluru. The competition celebrates business and entrepreneurship and also challenges the creative minds of university students. Central Institute of Fisheries Education students, Santhana Kumar V. and Jerusha S., were awarded the first prize of Rs. 1,00,000 for their outstanding competition entry 'Aquaculture made cleaner and greener'. The concept was based on the fact that conventional intensive shrimp farming can deteriorate adjacent coastal areas when effluent waste is released.
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"Innovation is critical to our business, and this competition is a great manifestation of our programme," said Matthew Smith, Vice President of Asia-Pacific for Alltech. The initial phase of the competition had submissions from 37 university teams from across the country. The final competition, held at the University of Agricultural Sciences, Bengaluru, was judged by a diverse panel of industry leaders, venture capitalists, angel investors and entrepreneurs. Finalists from six Universities battled in the competition, each presenting forward-thinking business plans on their innovative ideas in the areas of agriculture and sustainability.
The final teams and their projects included:
- Central Institute of Fisheries Education, Mumbai: Venture idea to make aquaculture, especially shrimp farming, cleaner and greener.
- Institute of Rural Management Anand: For-profit venture capitalizing on the opportunities that the flora of the Western Ghats of India offer with the help of tribal communities.
- National Academy of Agricultural Research Management, Hyderabad: Venture idea utilizing the wastage from banana plantations to create various value-added products.
- National Dairy Research Institute, Bengaluru: Venture idea proposed to suitably standardize, process and package whey as a potential processing liquid replacer for both industrial applications and domestic usage.
- University of Agricultural Sciences, Bengaluru: Venture based on Simarouba tea, which provides the medicinal values and healing wonders of its parent plant, also called the 'Paradise Tree'.
- Mahatma Phule Krishi Vidyapeeth, Rahuri: Venture utilizing temporary immersion bioreactors for rapid multiplication and growth of elite plantlets in banana, sugarcane, pineapple, ornamental plants, etc.
The teams were felicitated by Dr. D.P. Kumar, Director of Education at the University of Agricultural Sciences, Bengaluru; Godha Govind, Asia Pacific Educational Engagement Manager of Alltech and Medha Singh, Project Coordinator for Alltech.
A panel discussion with the University students and judges was interactive, as it brought venture capitalists, University officials and members of the private sector to one discussion. Panelists Subhadeep Sanyal, Principal, Omnivore Partners, and Ashwin Raghuram, Venture Partner at Bharat Innovation Fund, expressed that the competition has grown significantly since last year and provides a great opportunity for the students to present disruptive agribusiness ideas with high potential.
"As part of Alltech's education engagement, these programmes are designed to connect with agribusiness Universities in a meaningful and useful manner and create sustainable growth platforms," said Godha Govind, Asia Pacific Educational Engagement Manager of Alltech.
The Alltech Innovation Competition reflects Alltech's commitment to lifelong education and the inspiration of innovation and entrepreneurship. This was the second year that the Alltech Innovation Competition was held in India, initially launched in the U.S. in 2012. The competition is also held annually in Kentucky, USA; Dublin, Ireland; and Brazil. For more details on the competition in India, contact [email protected].
Alltech continues to work with universities to ensure the development of talented and educated Indian agribusiness graduates through education programs such as the Alltech Young Scientist program and the Alltech Career Development Program. Visit Alltech at http://education.alltech.com/
About Alltech:
Founded in 1980 by Irish entrepreneur and scientist Dr. Pearse Lyons, Alltech improves the health and performance of people, animals and plants through nutrition and scientific innovation, particularly yeast-based technology, nutrigenomics and algae. Alltech started its direct operations in India in 2001. With more than 100 manufacturing sites globally, Alltech is the leading producer and processor of yeast and organic trace minerals, and its flagship algae production facility in Kentucky is one of only two of its kind in the world.
The company's guiding ACE principle seeks to develop solutions that are safe for the Animal, Consumer and the Environment and is actively supported by more than 5,000 team members worldwide.
Alltech is the only privately-held company among the top five animal health companies in the world. This is a source of competitive advantage, which allows Alltech to adapt quickly to emerging customer needs and to stay focused on advanced innovation and long-term objectives. Headquartered just outside of Lexington, Kentucky, USA, Alltech has a strong presence in all regions of the world.
Media Contact:
Vinny Madhuri
[email protected]
+91-8025251991
Marketing Manager
Alltech Biotechnology Pvt. Ltd.
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