Congratulations! LoCo Team from Martin de Tours School of Management and Economics (MSME), Assumption University, has recently won the Gold Prize in the NIBS Worldwide Business Plan Competition 2024.

The Network of International Business Schools (NIBS) organizes a worldwide business plan competition annually. The competition aims to stimulate creativity and entrepreneurial spirit among students. Teams are challenged to conceive of a new service or product offering, and then create a business plan and concept pitch video aimed at convincing potential investors to finance the business.

The four finalists of the 2024 competition are:

Assumption University, Thailand – LoCo

LAB University of Applied Sciences, Finland – Ailune

Rotterdam University of Applied Sciences, The Netherlands – Tendera

Technological University of Dublin, Ireland

This year, the LoCo Team from Martin de Tours School of Management and Economics (MSME), Assumption University, was announced the winner (Gold Prize – €1,200) on May 15, 2024, at the Final Round of the NIBS Business Plan Competition 2024. The NIBS judging panel comprises members from four continents. LoCo’s business plan involves creating an innovative and sustainable product—a fungi home kit that offers a groundbreaking approach to plastic waste decomposition, harnessing the natural abilities of fungi to provide an efficient and sustainable solution to manage household plastic waste.

LoCo Team consists of three members:

Mr. Ratchanon Vimutiwong (6310192), Department of Global Business Management—International Business Management

Ms. Thamonwan Radompeng (6313089), Department of Global Business Management—International Business Management

Mr. Nicolai Legros (6420057), Department of Global Business Management—Entrepreneurship and Innovation Management

The team was co-mentored by Dr. Aya Fukushige, Dr. Radha Sirianukul, and Dr. Nichanan Sakolvieng from the Department of Global Business Management.