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Ateneo team bags gold in business model competition

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Published March 24, 2015 at 5:11 pm
INNOVATION. Team Duracinth was recognized by Esquire Financing Incorporated for developing a hydrogel product that enables faster wound healing. (Photo courtesy of Shin Alba-Lopez)

TEAM DURACINTH from the Ateneo was hailed champion for their wound-healing product of the same name in “Fueling the Dream,” a business model competition by Esquire Financing Incorporated (EFI) on January 10 at the Asian Institute of Management.

EFI is a money-lending company that spearheaded Fueling the Dream to choose the best business idea geared towards sustainable development from college and university students in Metro Manila.

Team Duracinth is composed of chemistry with materials science engineering supersenior Tristan Joshua Alba, health sciences senior Arlyze Arenas, communication senior Pierrei Pica and management senior Luigi Serafico.

Duracinth is a hydrogel product that functions like a band aid but enables faster wound recovery by utilizing water hyacinth fibers.

According to Serafico, Duracinth aims to “make the Philippines aware that there is such a product that does not only help heal wounds, but at the same time, helps the environment.” He explains that Duracinth will help lessen the number of invasive water hyacinths that clog waterways.

Team Duracinth won a P100,000 prize and a fund of P1 million to serve as a starting capital for their winning product.

According to Pica, the product is still currently in development and will not be commercially available until granted intellectual property rights and approved by the Food and Drug Administration of the Philippines.

The winning team competed against two other groups from the Ateneo, Team BeHearty and Team BahayCo, and seven others representing Asia Pacific College, De La Salle-College of Saint Benilde, Pamantasang Lungsod ng Maynila, and University of Asia and the Pacific, before advancing to the final round of the competition last December.

Long in the making

Alba shared that water hyacinth was originally the subject of his thesis for his double-degree program.

“From the very beginning, I’ve always thought of using water hyacinth [as] a potential raw material for something of higher value,” he said.

Moreover, Pica recounted how her mother told her about the abundance of water hyacinth in her hometown of Nueva Ecija and how its utilization can be a good source of business.

Pica mentioned that her chemistry professor led her to Alba, who was also researching on the aquatic plant.

Arenas explained that after Pica and Alba met, they tried to look for other people who were interested in the idea.

“I tagged along because I felt the importance of the product to the health care of the country. Luigi (Serafico) was tapped because he was willing to help out given his knowledge on the business,” she said.

Public health betterment

The team said that the development of the product can also help in making healthcare more accessible to the masses.

“[The idea that] public health isn’t really for the masses and that healthcare is expensive [is] really something we want to address,” Arenas said.

She mentioned that developing Duracinth for use on post-surgery wounds and chronic sores caused by diabetes can be a move towards cheaper wound care.

Arenas also said that Duracinth is more practical to use compared to other wound healing products because it can last up to three days before needing to be changed.

“We have a lot of existing products available in the market for the regular kinds of wounds. The products for [graver] wounds are currently expensive,” Arenas said, noting that the product will be entering an industry that is expected to increase in the next few years.

Realizing cura personalis

Arenas said that the team was motivated by the idea of being able to help others, as reflected in their product’s tagline, “For wound care, that’s real care.”

In line with the Jesuit notion of caring for the entire person, or cura personalis, Pica explains how at the core of Duracinth is a very Atenean sense of responsibility.

“The mere fact that we’re doing it to help other people is enough to show that we had an Atenean education,” Pica said.

She related that in the present, some businesses only create and sell consumer goods and services for the sake of earning profit.

“We are driven to help people, not only the community we will reach out to, but also all the people who will be healed by our product,” Pica added.


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