Fastrack graduates dish up sustainable solutions at global awards
June 4 2024
(l-r) Wonki founders Max Moolman, Bridget Lansell and Gabe Tucker
and La Foundary co-founder Shikhar Jung Shahi Thakuri.
Rising stars from Monash Business School’s Fastrack start-up program are taking their fight to end food waste to the international stage.
La Foundary and Wonki Beverages are among 360 teams handpicked from more than 10,000 applicants globally, to compete for the US$1 million Hult Prize.
The year-long international competition challenges young entrepreneurs with innovative social ventures to address the world’s most pressing issues.
Both Monash teams impressed judges with ingenious approaches that tackle sustainability problems at their source.
The teams will this weekend fly to the USA to attend the Hult Prize summit.
Power of ‘nature’s ultimate recyclers’
La Foundary, co-founded by David Sea, Fastrack graduate Shikhar Jung Shahi Thakuri, Anh Van and Melody Wu, takes inspiration from nature’s ultimate recyclers: microbes.
“These organisms can digest certain types of food and transform them into something else,” Mr Thakuri said.
“We use the same principle - we feed them waste we collect from our partnership with a local farm and cafe, let them eat and expand, and the growing process bonds all the waste together, forming a composite.”
The result is an eco-friendly alternative to the 15 million tonnes of Styrofoam produced annually worldwide.
Mr Thakuri said being selected for the Hult Prize was a huge milestone for the start-up.
“Competing against teams from around the world will enable us to broaden our market opportunities, establish global connections, and identify potential weaknesses in our current business model,” he said.
Beauty of ‘ugly’ fresh produce
Meanwhile, Wonki founders Bridget Lansell, Max Moolman and Gabe Tucker are giving misshapen fruits and vegetables a second chance at life.
Each year, Australia wastes more than 7.3 million tonnes of food - and one-third of it is produce deemed ‘too ugly’ for supermarket shelves.
“It’s costing our planet and our wallets – with total food waste costing the Australian economy around $36.6 billion each year,” Mr Moolman said.
Wonki’s challenge was threefold: how could they save misshapen produce, support local farmers, and create something delicious from the would-be-waste?
Their answer? Rescue the cosmetically challenged produce and transform it into delicious, low-sugar vodka premixes.
Mr Moolman said the chance to compete for the coveted prize would shine an international spotlight on the issue of food waste.
“This is an opportunity to represent our country and, more importantly, Monash University on the global stage,” he said.
How Fastrack helped them
Both teams credit the Monash Business School Fastrack program for accelerating their success.
The intensive, two-semester program supports aspiring entrepreneurs to address real-world problems and bring a solution to market with the guidance of experts in the field.
“Fastrack introduced us to a network of amazing minds,” Mr Moolman said.
“They inspired us to think deeply about our work and provided the right mentors, like Konrad Spilva from Shadowboxer, who has been with us every step of the way.”
Mr Thakuri said the program had been instrumental, providing them with a strong foundation in entrepreneurial thinking and problem-solving.
“The lessons and experiences we gained continue to positively impact how our team approaches challenges and opportunities as we move forward,” he said.
Applications for the next Fastrack intake are open until 28 June 2024.
Learn more about the Fastrack program.