A team consisting of a two MBA students, a Ph.D. student in molecular and cell biology and a professor in the department of plant and microbial biology won the $25,000
at a University of California-Berkeley contest sponsored by Intel Capital.
BioFuels won both the first prize and the People's Choice Award. The team created a way to produce bio-diesel fuel with significantly higher yields and with 50 percent lower costs compared to current production methods. The contest is judged in three rounds by venture capitalists who volunteer their time for the contest. This is a company we should definitely keep our eye on.