Photo by Christian Fleury
by Brad Hunter
Second-year MBA student Russell Draper has been awarded top prize in
a bursary competition recognizing promising student entrepreneurs in Quebec.
Drapers winning entry in this years Pierre Péladeau
Bursary laid out his plans for Corrofoil Coatings, a company he launched
to commercialize an innovative approach to preventing corrosion on steel
I know that all businesses that have won prizes in this competition
in the past five years have all gone on to succeed, said Draper,
So I suppose this is a good omen for the future.
The 41year-old native of South Africa called the $50,000 bursary,
which was officially presented to him on May 8 at Quebecors annual
shareholders meeting, a good starting point for my business. It
will hopefully help me attract new investors.
Draper, who holds a bachelors degree in chemical engineering and
is a certified protective coatings specialist, explained his company has
developed a coating similar to common household tape that is applied over
contaminated steel surfaces. The coating not only keeps corrosion in check,
but also prevents old paint from escaping into the environment.
Most existing steel structures are covered with lead paint, which
is very toxic and dangerous when it gets into the environment, said
Draper. Theres a real need to contain this.
Draper said that his MBA training gave him an edge over other students
in the competition when it came to preparing the business plan that was
submitted as part of his entry.
Before he enrolled in Concordias MBA program, he knew next
to nothing about how to put together an effective business plan.
I think this shows that what we teach here is applicable in the
real world when students put what they learn into practice, said
Morin, who helped organize the process to select Concordias two
entries in this years Pierre Péladeau Bursary competition.
He has combined his expertise as a chemical engineer with his business training to come up with something really impressive.