The MIT $100K Entrepreneurship Competition has awarded its $100,000 grand prize to C-Crete Technologies, a start-up founded by Massachusetts Institute of Technology students. It developed “a nanoengineered cement that reduces CO2 emissions and is stronger than any currently existing cement,’’ a news release said.
Other finalists were teams that developed insulin chewing gum and a “silent alarm clock for enhancing sleep efficacy.’’
A statement from Natanel Barookhian, one of C-Crete’s founders, said:
“For many years, the world has been looking for simple, scalable solutions to reduce the global carbon footprint and limit its impact on the environment. We at C-Crete Technologies have developed a method for tackling this issue by targeting the production of cement, one of the most widely used materials on earth, while improving all of its core properties. We believe our technology will make a significant impact on the world.’’
The competition is designed to be an economic barometer for emerging markets that are being funded by venture capitalists. Since its debut 20 years ago, the competition “has facilitated the birth of approximately 130 companies.’’
