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Students from The University of Nottingham Ningbo, China have scooped second place at the SIFE (Students in Free Enterprise) World Cup.
Thirty one students from the 114 strong team were in Los Angeles to pit their entrepreneurial skills against some of the world’s brightest young business minds.
They were beaten into second place by French University in Egypt (UFE), whose victory saw them become SIFE world champions for the second year running.
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Professor Chris O'Brien, who acted as the team's mentor, said: "This is quite a remarkable achievement when you consider that well over one thousand teams have taken part worldwide — our students have been marvellous ambassadors for The University of Nottingham Ningbo, China.
"Our students, both the presenting team and the very large number of supporters who came over to LA have won the hearts of the four thousand delegates with their sheer professionalism and great charm. They have all done UNNC proud."
The University of Nottingham Ningbo, China (UNNC) team had the honour of representing China after winning the national finals in June. They beat three regional finalists out of an original entry of 131 university teams from across China.
The students presented two of their nine social enterprise projects to the World Cup judges. Beevelop is a venture which promotes honey sales for farmers. It has equipped beekeepers with the skills to raise wild bees – which are close to extinction. The Ant River Ginseng project was established to help extremely poor farmers in the North East of China, where the world’s best Ginseng is grown.
Beevelop has introduced new bee husbandry through initiatives involving better design and location of beehives, disease protection, financial literacy training and business partnership with a local wholesale honey company. The project also protects the endangered Chinese wild bee.
The Ginseng project received international accreditation for the quality product, fresh ginseng. The team introduced a new technology using mushrooms which, when planted next to the ginseng root, promote growth and productivity as well as an extra income for the farmers. The most innovative aspect of this project was the initiation of a micro-finance fund providing an interest free loan to the neediest farmers.
The SIFE World Cup showcases the impact that SIFE teams are achieving around the world. The competition brings together more than 1500 students, academic and business leaders from more than 40 different countries.
More information about their work and the projects they have established can be found at www.sifeunnc.org or www.sife.org
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Notes to editors: The University of Nottingham, described by The Times as “the nearest Britain has to a truly global university, has award-winning campuses in the United Kingdom, China and Malaysia. It is ranked in the UK's Top 10 and the World's Top 75 universities by the Shanghai Jiao Tong (SJTU) and the QS World University Rankings.
The University is committed to providing a truly international education for its 39,000 students, producing world-leading research and benefiting the communities around its campuses in the UK and Asia.
More than 90 per cent of research at The University of Nottingham is of international quality, according to the most recent Research Assessment Exercise, with almost 60 per cent of all research defined as ‘world-leading’ or ‘internationally excellent’. Research Fortnight analysis of RAE 2008 ranked the University 7th in the UK by research power.
The University’s vision is to be recognised around the world for its signature contributions, especially in global food security, energy & sustainability, and health.
More news from the University at: www.nottingham.ac.uk/news
Facts and figures at: www.nottingham.ac.uk/about/facts/factsandfigures.aspx