Wednesday 17 January 2007
David Tam & Devina Naidu
Two UQ Business School students are lending their business expertise to UQ's first team entry in the Young Achievement Australia Biotechnology Entrepreneur Program.
Bachelor of Business Management student Devina Naidu and Master of Commerce student David Tam are part of the eight-member UQ team - part of a company called YAGEN - producing a wristband which is sensitive to Ultra-Violet (UV) light.
The wristband is called a UV Buddy and uses a special 'photochromatic ink' which changes colour in sunlight or according to UV intensity. It has applications to be used as a UV warning/reminder device, an identification bracelet or simply as a fashion item.
The Biotechnology Entrepreneur Program requires students to develop a product with a science or biotechnological focus and then establish a real company to manufacture, market and sell the product. It is aimed primarily at high achieving students from business, engineering, and science disciplines who are looking to develop their creativity, entrepreneurship and leadership skills in a practical environment
Throughout the course of the program the students sell shares to raise capital; appoint management positions; write a company code of ethics; prepare a business plan; manufacture, advertise and sell the product; and prepare an annual report.
Ms Naidu is the company's marketing director and said she became involved in the program because she had an interest in the biotechnology industry and because the program gave her the opportunity to learn some new skills in the areas of finance, marketing and manufacturing.
"Being involved in the conception of a product idea and actually being part of running a real company from start to finish is an amazing experience", she said.
"The benefits of the program for someone studying business such as myself are considerable."
Ms Naidu said that the UVBuddy would be targeted at young adults between the ages of 17 and 25, with ten percent of the profits being donated to the Cancer Council for skin cancer research.
The UQ team was provided with a mentor to assist them in the development of their company and is sponsored by the Queensland Department of State Development.
Mr David Tam is Financial Director for YAGEN, as well as president of the Business School Postgraduate Association (BSPA).
Mr Tam urges all UQ Business School postgraduate students, new and old, to join the BSPA.
For further information on the BSPA contact, contact:
David Tam
Email s4011889@business.uq.edu.au
Media enquiries:
Cathy Stacey
Marketing Development Manager
Phone (07) 3365 6179
Mobile 0434 074 372
Fiona Sutton
Mobile 0423 637 699
Email media@business.uq.edu.au
