PowerMundo Wins Camino Real Venture Competition
March 7, 2009
Jacob Casitillo of the winning Team PowerMundo receiving his 1st Place check for $10,000.
The PowerMundo team, consisting of Michael Callahan and Jacob Castillo of Colorado State University, took home the $10,000 cash prize as well as over $35,000 worth of in-kind business consulting services and prizes.
PowerMundo is a social venture started in November 2008 to deliver clean, appropriate technology to the developing world. PowerMundo exists to connect the two billion people on earth at the base of the economic pyramid (those that live on less than two dollars a day) with a network of sustainable resources and products. PowerMundo fills an important gap in the value chain by providing innovative marketing, wholesale distribution, and micro-franchise opportunities in unserved markets and developing countries.
Castillo said PowerMundo is already operating in Peru.
Runner up in the competition was Grupo Empresarial GRISOL of ITESM - Chihuahua (Tecnológico de Monterrey), consisting of Griselda Casas, Marisol Contreras and Ulises Perez. GRISOL took home a $2000 cash prize as well as in-kind prizes.
The mission of Grupo Empresarial GRISOL is to offer high quality and natural Tofu products made in Chihuahua as a new option to supplement the Mexican diet.
Two UTEP teams, Eco-Oil Unlimited and New Aerospace, made the final four.
Members of UTEP's Team Eco-Oil Unlimited, makers of environmentally friendly algae products, pose with their product display during the competition.