Fargreen, founded by a group of MBA students at CSU, will help Vietnamese farmers grow gourmet mushrooms in straw leftover from the rice harvest. The technique’s benefits are two-fold, according to a release from CSU Monday.
As the winners of the collegiate competition, Fargreen was awarded $20,000 in cash and one year of business coaching from EMyth, an Oregon-based business consultant, and one year of business mentoring from Blue Ocean Enterprises, a Fort Collins-based company launched by OtterBox founder Curt Richardson.
Fargreen will also compete in the next round of Blue Ocean Challenge competition, which pits 16 established startups against each other in a contest later this month.
“This money brings us one step closer to our goal of $150,000 to build our production facility in Vietnam,´ said Trang Tran, co-founder of Fargreen in a statement. She and business partner Tanmay Telang will receive their degrees from the CSU Global Social and Sustainable Enterprise program later this month.
Second prize in the collegiate contest, worth $10,000, went to Living Ink Technologies, founded by Scott Fulbright and Steve Albers, Ph.D. candidates at CSU. Third place, worth $5,000, went to MemPrint Dynamics, created by Robert Altman and KatieRae Williams, engineers from CU.
Prizes were awarded on May 2 after contestants pitched their business plans to a panel of judges.