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Bangladeshi team wins runner-up prize at HSBC Young Entrepreneurship Challenge

Star Business Desk
A team of Bangladeshi students has won the first runner-up prize at the regional HSBC Young Entrepreneur Challenge 2012 for their business concept of producing capsule shells from fish fins and scales.
The runner-up case from Bangladesh presented by thcTeam Fireflies was for HealthyCaps, halal pharmaceutical capsules uniquely manufactured using fish waste (scales and fins) instead of the more usual imported capsules made from animal-based gelatine.
The team consisting of Ma kame Mahmud, Rakshanda Zihan, Syeda Rizwana Zafri and Ayesha Sultana — all students of the Institute of Business Administration of Dhaka University — presented their business case at the
grand finale in Hong Kong on Monday.
During its presentation, the Fireflies team presented how its idea will help the pharmaceuticalssector.
Presenters said their product, HealthyCaps, will provide a cheaper but good quality alternative. It will have a lead time of one week, compared to seven to eight weeks needed to make an import from abroad.
For pharmaceutical imports, local companies face a 'minimum order quantity' barrier which increases the cost of inventory management because many companies do not require such large amounts and capsule shells are hygroscopic in nature, they said.
The unpredictable demand of drugs further aggravates inventory
costs as this demand cannot be met without stocking, said the team.
HealthyCaps will comply with waste management and environmental protection standards by utilising fish residuals for making the capsule shells.
The main ingredient of traditional capsule shells is gelatin, conventionally made of pigskin and bovine hides.
Bangladesh spends $15 million to import capsule shells every year, according to an estimate.
"It is particularly pleasing that amongst such intense competition, Team Fireflies demonstrated the versatility and entrepreneurial spirit so typical in Bangladeshi businesses," said Andrew Tilke, chief executive officer of HSBC Bangladesh, commenting on the success of the team.
"Bangladesh has a great track
record in this competition and this year's team can be very proud of their achievement."
The winning team belongs to Malaysia who presented an innovative business plan to introduce 'EcoCell' bricks for greener buildings.
An Indonesian team was awarded with the second runners-up prize for their business idea of utilising paddy waste to invent premium organic tissue.
The HSBC Young Entrepreneur Challenge programme encourages university students to develop innovative and commercially viable business plans.
Since its launch in 2000, the programme has expanded to Hong Kong, Bangladesh, Brunei, Malaysia, Indonesia, the Philippines, Shanghai and Thailand.
This year, over 3,500 full-time