Friday, December 5, 2008


E-waste recycling scores big at China's Challenge Cup
By Emma Ritch
Published 2008-12-02 08:27

A student-led team from the Jiangsu Teachers University of Technology secured 60 million RMB ($8.8 million USD) in venture capital investment for its work in the Challenge Cup, a business plan competition by China's Ministry of Education, China Association for Science and Technology and National Students Union.

The Jiangsu team developed a system for recycling electronics waste, or e-waste. The spin-off company has been named Jiangsu Xiangyu Resource Recycling Tech.

The investment comes from Jiangsu Xiangyu Kejiao Investment, which invests in real estate, technical services and logistics services.

The team took home one of six VC prizes totaling 160 million RMB. The team also garnered one of 120 silver medals at the sixth biannual event.

The Challenge Cup requires participants to make an integrated, detailed business plan
with good prospects for venture capital investment. The competition has helped its entrants secure 420 million RMB in VC investment from 1999 to 2008.
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