Touro University Graduate School of Technology (GST) Alumnus Robert Covu Wins Second Place in Mid-Hudson Regional Business Plan Competition.
We recently caught up with Touro GST alum Robert Covu to talk about his award-winning experience at the Mid-Hudson Regional Business Plan Competition, where he took second place. Covu, who received his MS in Information Systems at GST (Master of Science in Information Systems | Touro GST), explains his passion for this earth friendly project and offers vital advice for fellow entrepreneurs interested in starting their own business venture.
Congrats on winning second place in the Mid-Hudson Regional Business Plan Competition! Can you tell us a bit about your idea, Recy-Power? What need does it fill and how does it work?
The idea behind Recy-Power is to protect the environment. In essence, our technology can trap up to nine toxic gases and then converts them into reusable energy that is transferred into tanks and sold. Unlike the cow manure recycling business, which is a $117B industry and requires a substantial investment for equipment, Recy-Power’s model is streamlined and requires a minimal investment as few pieces of equipment and staff are needed to run it. An estimated $275,000 is required to set up one recycling site and that site can then produce an annual estimated revenue of $1,825,000. While one of our goals is to make the air cleaner in major cities around the world, we also hope to increase safety as we’re reducing the chances of underground infrastructure issues from occurring that can be dangerous for pedestrians. .
Why are you passionate about this project?
Most importantly, giving back to the community is important to me. Through collecting sewer gases, we’re improving the air quality for people via the sewer ventilated system. We’re also greatly reducing the possibility of manhole cover blowups caused by sewer inflammable gas buildup, so there will be little to no damage done to underground infrastructure like power lines, data lines, and gas lines in the future. If any of these lines go down, it negatively impacts the customer, so we’re trying to reduce the chances of that unsafe and frustrating scenario from happening. At the end of the day, I'm proud to be helping to make the streets safer and cleaner, while hopefully earning a decent living.
What are your short- and long-term goals for your business?
Right now, we have a patent pending to protect the technology utilized in Recy-Power. Our short-term goals include finishing building the prototype and applying for government Environment Protection Agency (EPA) funding. Our long-term goals are to license the technology to companies that already have the infrastructure for gas distribution for a commission and royalties or lease the technology to local municipalities.
What is some advice you'd give to other entrepreneurs just entering the market?
I think it’s important for other entrepreneurs to know that while it’s great that you have an idea, you must first complete your due diligence through research to ensure it hasn’t been done before. Ideas are a dime a dozen, and if the real-world problem you’re addressing will not be fully solved via your new solution, you might want to rethink trying to bring it to market.
Are you ready to find out what the future could hold for you?
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