ASU Students Chosen for Wal-Mart Sustainability Competition

TEMPE, Ariz. - Wal-Mart's latest push toward sustainability is creeping into education by inviting students from eight colleges and universities, including Arizona State University, to compete for cash and a chance to be heard.

Wal-Mart and the Applied Sustainability Center at the Sam M. Walton College of Business at University of Arkansas is hosting a Sustainability Business Plan Competition April 18-19, 2008. Arizona State University was selected to participate in the elite competition, as well as University of California-Berkeley, University of Arkansas, Babson College, Dartmouth College, Imperial College London, Stanford University and Stillman College (Ala.).

"Being invited as one of a select group of leading academic institutions focused on bridging sustainability and entrepreneurship is an honor for our faculty and students," said Jay Golden, assistant professor at the ASU School of Sustainability and director of the National Center of Excellence for SMART Innovations. "It's also recognition of ASU President Michael Crow's transformation of the university into the New American University, which embodies these two core principles."

Student teams from each college or university must submit a business plan focused on sustainability and give a presentation to venture capitalists, Wal-Mart executives, Fortune 100 company executives and environmental organizations. Two finalists will be selected to present to the top executives of Wal-Mart on April 19 and a winner will be declared. First place will receive $20,000; second place $10,000; and third through eighth $1,000 each.

The university looked to its Global Institute of Sustainability and School of Sustainability to find a group of students who could exceed the competition. A judging panel of ASU faculty and staff, a Wal-Mart executive, local venture capitalists and industry leaders listened to presentations from student entrepreneur groups and selected Green Taxi Cab to represent ASU at the national competition.

Built from the ground up as an environmentally and socially responsible taxi company, Green Taxi Cab is Arizona's first all-hybrid taxi service. The company was founded by ASU student Andrew Nelson, a supply chain management senior who received funding for the start-up through ASU's Edson Student Entrepreneurship Initiative. Nelson initially launched the company in January 2008 with two Toyota Priuses in the fleet and has plans for further expansion as the customer base grows.

"I feel that Green Taxi Cab will excel in the competition because the business model encapsulates the true meaning of sustainability. Green Taxi Cab is a rare kind of business that has the potential to completely revolutionize an industry in a very positive way," said Nelson.

Wal-Mart and the Applied Sustainability Center are looking for sustainable business plans that improve quality of life for current and future generations by taking action such as: preserving clean air, water and soil; reducing waste; improving energy efficiency or usage of renewable energy; and promoting healthy living for people and communities.

Golden, with the help of James Hershauer from ASU's W. P. Carey School of Business, will work with the student entrepreneurs of Green Taxi Cab to refine their business plan and coach them at the final competition in Arkansas. About

ASU Edson Student Entrepreneur Initiative
The Edson Student Entrepreneur Initiative harnesses the entrepreneurial energy and creativity found in ASU's student body. It provides funding, training/networking, and office space for teams of students across the university to explore their innovative ideas in partnership with faculty, researchers and successful entrepreneurs in both the university and private sector. The Initiative will help students be successful in any enterprise, large or small, corporate or not-for-profit, local or global.

The Edson Student Entrepreneur Initiative has been made possible by the $5.4 million donation of Orin and Charlene Edson to the Arizona State University Foundation. The scale of the Initiative, approximately $200,000 per year, places ASU in the national forefront of student entrepreneur support. The Initiative recently announced its 2006 awardees, comprised of 18 first year ventures and 6 second year ventures that will receive a combined $203,500 in funding in the coming year.

MEDIA CONTACT: Leah Hardesty, ASU Public Affairs, 480-727-3116, leah.hardesty@asu.edu