University of Arkansas Startup Wins Bangkok Business Challenge, Earns $20,000

University of Arkansas Startup Wins Prestigious Bangkok Business Challenge

A startup focused on creating bio-based chemicals and fuels, ProPika, has made history by becoming the first University of Arkansas team to win the prestigious Bangkok Business Challenge. Co-founded by Nhiem Cao and Angel Treat, ProPika specializes in converting unused agricultural waste into eco-friendly fuels and chemicals.

The team took home the grand prize, H.M. The King of Thailand’s Award, earning $18,000 for their venture, with an additional $2,000 allocated to the University of Arkansas. ProPika also received awards for Best Business Plan, Best Presentation, and reaching the semifinal round, as well as being a finalist for the Sustainability Award.

Cao expressed his excitement about the win, stating that the prize money will help validate their technology and provide ProPika with a longer runway for growth. He emphasized the team’s commitment to overcoming technical challenges and pushing their innovation as far as possible.

ProPika was formed by Cao and Treat while enrolled in the Master of Science in Product Innovation program at the University of Arkansas. The program, overseen by the Office of Entrepreneurship and Innovation, equips students with the skills to create and manage products in a startup environment.

David Hinton, executive director of U of A Technology Ventures, highlighted the role of Technology Ventures in licensing the technology used by ProPika. The team was also supported by the New Venture Development course sequence of the MSPI program.

The Bangkok Business Challenge, which has distributed over $220 million in funding to startups since its launch in 2002, aims to encourage scalable new ventures and create commercial value from research efforts. This year’s competition featured teams from 19 countries, with ProPika representing the U.S.

Cao and Treat hope that their victory will inspire future University of Arkansas teams to aim high and pursue their own groundbreaking ideas on the international stage. They believe that their success at the Bangkok Business Challenge is just the beginning of a winning tradition for the university.