Student entrepreneurs from RMIT Vietnam University have taken out first and second prize at the $100,000 RMIT Business Plan Competition.
The team behind Nutrimens was awarded the $25,000 RMIT University First Prize at a gala awards ceremony, for their innovative business idea to deliver ready-to-cook kits to busy city workers.
It is the second win in a row for RMIT Vietnam, with last year's Business Plan Competition going to student entrepreneurs from Vietnam for the first time.
Nutrimens team leader and Bachelor of Commerce student, Nguyen Thanh Tu, paid tribute to RMIT Vietnam staff members Arlene Tuang and Melvin Fernando - who accompanied the teams in Melbourne - and said it was thrilling to win the competition and receive the acclaim of the judging panel.
"It's been an amazing growth experience for all of us - everything from the support we got from Melvin and Arlene, to coming to Melbourne and participating in the awards event," he said.
The team behind Nutrimens have developed ready-to-cook Uchef kits that customers can transform into meals in just 15 minutes.
With quality ingredients, a nutrition planning mobile app and recipes developed by celebrity chefs and nutrition experts, UChef's kits offer a convenient alternative to fast food.
Second place winners DreamKids - Nguyen Hoang Linh Quang and Ngo Thi Hong Lien - with Professor Palmer.
The $10,000 RMIT University Second Prize was awarded to DreamKids, another team from RMIT Vietnam.
Led by Bachelor of Commerce student, Nguyen Hoang Linh Quang, DreamKids is an additional after-school care service that complements the existing DreamHouse kindergarten childcare service.
The RMIT Business Plan Competition is one of the biggest programs of its type in Australia and is open to vocational education, undergraduate and postgraduate students across all RMIT campuses in Melbourne and Vietnam.
More than 5,000 people have taken part since 2001, with many past competitors now running successful businesses in Australia and around the world.
Total prize money to all winners in the Business Plan Competition this year was more than $100,000.
RMIT Vice-Chancellor and President, Professor Gill Palmer, praised the efforts of the 10 finalists and paid tribute to all 104 teams who took part in the 2014 competition.
Mentor Angus Parker with the third place winning Matrak team - Shane Hodgkins and Brett Hodgking - and Michael Anderson, City of Melbourne.
"The Business Plan Competition has run for 14 years and helps student entrepreneurs bring a sound business approach to exciting new ventures," Professor Palmer said.
"It offers a support structure that enables them to develop their talent while learning from real-life experiences.
"Industry mentors provide generous support to help the students build skills and networks to give their start-up ideas an edge in the highly-competitive world of entrepreneurial business.
"In an increasingly volatile job market, this Business Plan Competition provides excellent training for students who wish to create their own jobs."
The following RMIT student businesses were also winners in 2014:
The City of Melbourne Third Prize ($5,000) and City of Melbourne Lord Mayor's Award for International Opportunity ($5,000) - Matrak
Matrak's material management and tracking network - designed to interface seamlessly with existing commercial construction industry software - will reduce labour costs on construction projects, while bringing direct benefits and detailed operational analytics to all parties on site.
Team Leader: Master of Computer Science student Brett Hodgkins.
City of Melbourne Lord Mayor's Award for Creative Industries ($5,000) - GigKoo
GigKoo's online booking platform is a "one-stop-shop" that makes it easy to find, compare and book the perfect live music entertainment for an event or business, saving time and money in the process.
Team Leader: Master of Commerce student Ben Lawoko-Leaney.
The Litmus Group Productivity Award ($15,000) and the GrantReady Award for Excellence ($5,500) - Reactive Electronics
Reactive Electronics is developing a new detect and deter approach to agricultural bird control. BirdSense is a practical and cost-effective bird control solution that uses digital imaging and mobile deterrents (drones) to prevent bird damage in high-value crops.
Team Leader: Master of Engineering (Electrical and Electronic Engineering) student Tanay Kumar.
Servcorp Virtual Office Award for Business Excellence ($4,700) - Prima Facie
The Prima Facie business is built around an already-developed product, Solution Solution, which removes make-up from fabric without the need to launder the garment. Solution Solution will be sold wholesale domestically and internationally to established luxury cosmetic and fashion retailers.
Team Leader: Juris Doctor student Katie Doherty.