This prodded the four teams of young Filipino entrepreneurs, particularly the Far Eastern University’s (FEU) undergraduate BoardTech Team, to gain prominence in the 21st Annual Entrepreneurship Conference and Battle of the Business Plans at the Spangler Auditorium of Harvard University in Massachusetts recently.

They won "double victory" over 39 teams from other leading universities in the United States.

Represented by senior marketing students Michael Morro and Dianna Chebat, and advised by marketing professor Gerald Villar and Business School Dean Danny Cabulay, the BoardTech Team with an "innovative" business plan producing construction panel boards out of recycled aluminum packaging materials, bested the others in the Harvard contest called "Entrepreneurial Idol."

At a press conference held at the school campus on Morayta St., Manila, the FEU team got two awards — Most Likely to Have a Global Impact Award and the People’s Choice Award — sponsored by Microsoft and Nokia Ventures, respectively.

"Winning the Harvard competition is really something that is the most unforgettable and challenging experience I’ve ever had. I never imagined that we were going to win two awards. It wasn’t easy competing against the best schools in the world," said 21-year-old Morro at the press conference at FEU’s Conference Center.

Aside from the BoardTech team, included in the top 10 were teams from Harvard Business School, Massachusetts Institute of Technology, Yale University, Bryant University of Rhode Island and Wharton. Also among the 43 finalists were Babson College and Boston University.

"I must admit, everyone there knew that we’re not of their league, but this did not become a hindrance to strive and have the urge and drive for bringing home the bacon," said Dianna Chebat, 20.

She said that the Harvard "intimidating" milieu did not hamper them to shine and bring honor not only to their alma mater, but also to their country.

"Amidst strong competition, we really had to hold our own and really present to them (judges) a very good presentation. What we exactly achieved at Harvard was the pioneering effort to be the first Filipino team to win there and be the only Asian team in the top 10, and the youngest team to join there," said Cabulay, an MBA graduate of Trinity College Dublin in Ireland, in a separate interview shortly before the press conference.

He said that the travails they experienced before and during the tilt made the team more resilient.

"Michael and Dianna were actually not feeling well during the competition and that day made me even more nervous as a coach. Gerald and I just had to be firm that we had to proceed and be well-composed to handle the situation."

"Also, we lost one of our luggage but we really had to do away with that and endless script revisions were really too exhausting but it paid off," he narrated.

"The trip to Harvard was not easy. The competition was tough. There were a lot of good competitors there. We just had to make sure that we were prepared and we wanted to make sure that our feet were firmly planted on the ground. We had to package the project in a way that it was something that could be easily understood," Cabulay stressed, saying that their groundwork, humility and resilience were the cornerstone of their success.

Asked what made their business plan at par with others, Cabulay described the product as a cliche of "hitting two birds with one stone," addressing both the massive global housing backlog and the solid waste disposal problem of any country.

What prompted the students to do the project between June and October last year is the 1.1 billion homeless people in the world, he explained.

He disclosed that the construction panel boards made from aluminum foil packs are excellent alternative to plywood, hardiflex, and flexboard and it would probably be the cheapest in the market, which is 30 to 50 percent cheaper than the existing products of similar type.

Being termite-free, non-corrosive and water-proof are among the properties of the product as certified by the Department of Science and Technology (DoST).

However, he said the fourth property will be subjected for testing and due to time constraints in the competition, the fourth testing was not done yet.

Asked about the fourth property, he said: " We cannot disclose that. We’re also very careful in our language but nevertheless even if we did not disclose the whole thing, the panel of judges, who are highly-esteemed people in the business community in the US, saw the huge potential and that kind of project can be replicated in any part of the globe, particularly in developing countries and even in developed countries where they like to remodel their houses and like to build bigger homes."

At the same press conference, Dr. Lydia Echauz, FEU president, lauded the "double victory of the team as a source of great pride not only for FEU and its 25,000 students and alumni, but also to all Filipino students and the Philippines."

Having been the forerunner of business schools, FEU has set a long tradition of producing successful entrepreneurs, including Henry Sy Sr., Ambassador Alfonso Yuchengco, and Ramon Sy.

The three other teams who made it to the semi-final round were the Medlabs from University of the Philippines-Engineering (medical services), Tenorio Manila (upscale designer shoes), and Institute for Contact Center Communication & Leadership or ICCCL (call center training services).

Following the Global Entrepreneurship Network (GEN)-Philippines Battle of the Business Plans Contest held last Jan. 11, the Philippine teams sent to the prestigious competition were coached and sponsored by GEN-Philippines, an international group of young Filipino leaders "inspiring, promoting, and supporting global Filipino entrepreneurship."

Indeed, the success of Filipino entrepreneurs in today’s highly competitive global market signals the country’s domain in the business arena.