Environmental Science PhD students Rachel Hipkin and Cansu Bayindirli, joined Chris Applegate and Luke Davis from the School of Computing Sciences to enter the Environmental Young Entrepreneurs Scheme (YES), the final of which took place this week.

Targeted at PhD students, the scheme is designed to help students gain a greater commercial awareness with regards to their research. It is organised by the Natural Environmental Research Council. 

The competition took the form of an initial three-day workshop held in the autumn, where the team had to create a fictional company, assign themselves corporate roles within in it, and then present a business plan for an inventive idea to a panel of science and business experts.

UEA’s team created a company called ReNeVention. Chris Applegate was made CEO, Luke Davis was finance officer, Cansu Baylindirli was in charge of marketing, and Rachel Hipkin was the group’s science officer.

Their plan, based on recovering lost heat from electrical appliances and converting it back into electricity to be used again, was pitched to the experts as an innovative way for supermarkets to save on their energy bills and decrease their carbon footprint.

The team had to present again at the final on December 5 at the Marriot County Hall, London, where the UEA students were awarded the top prize of £1,000.

Chris Applegate said: "We are extremely proud to have represented the University of East Anglia in the prestigious, industry recognised, Environment Young Entrepreneurs Scheme competition. We are particularly pleased to return home as the winners of the competition, and would like to thank everyone involved with the organisation and running of the event. 

“The experience attained and advice given throughout this process has been invaluable in helping us all understand how to present concepts and ideas to industry requirements, at a competitive level.”

Rachel Hipkin said: “We have all gained a wealth of experience, working in a multidisciplinary team and dramatically increasing our commercial awareness. It was a great opportunity and we hope that in 2012 that more UEA PhD students will take up the challenge bringing home the title again.”

Minister for Universities and Science, David Willetts, congratulated the winners of the Environment YES competitions on their success. 

“Scientists who are able to combine their expertise with an understanding of business are a very precious resource. By learning how to translate research into wider successes, they can help ensure their work delivers the maximum benefits to society and the economy,” he said.

Photo courtesy of NERC - (Pictured left - right: Chris Applegate, Cansu Bayindirli, Rachel Hipkin, Luke Davis)