A group of second semester students from RMIT Vietnam outsmarted more senior opposition to finish runner-up at a business competition in HCMC.
A group of four young RMIT students have taken second place in a city-wide business competition in Ho Chi Minh City.
The precocious quartet made their mark in the Mastermind 2013 contest, organised by the by Soft Skills Club of International University at the Vietnam National University HCMC, with their idea for a biofuel derived from coconuts.
The team called themselves IVCB and was made up of Phuong Ngoc Tuyen, Nguyen Le Minh Hang, Dang Ngoc Thanh Nguyen and Van Ngoc Thanh.
More than 120 teams of mostly third and fourth year students entered the competition, which makes the achievement of the IVCB team all the more remarkable. They brought to the table their skills from their majors in marketing and design, but still had to grapple with the task of researching and analysing their proposed product.
"Mastermind was a really good chance for us to test our limits," team leader Phuong Ngoc Tuyen said. "Having a common passion for business and marketing, we always wanted a chance to convert our innovative ideas into reality and share them with other students as well as business investors."
"Our project, called COCOFUEL, is to produce biological diesel from coconut oil for buses to reduce pollution," Tuyen said.
One of the key facets of the team's proposal was their service and promotion strategy. They were commended for their logically designed refuelling system that saved transportation time and costs.
With so many challenges in their path, a second prize is a remarkable achievement and evidence of the team's effort, teamwork and close bond.
"The second prize is really satisfying," Tuyen said. "Looking back at the long journey we have been on, it was almost an overwhelming experience for young students like us."