Michael Dwork, a recent Columbia B-school grad, stopped by the judges' table to pass around samples of a biodegradable plate made of stream-pressed leaves. "We're changing what disposable means," Dwork pitched as he dangled his product, dubbed GreenWare, in the air. "We're trying to revolutionize this market by creating an earth-friendly product that meets people's needs."

The judges, all venture capitalists, examined the plates as Dwork took to the auditorium stage and powered through his 10-minute presentation, explaining how his line of eco-friendly plates, cups, and bowls will appeal to "trendsters" and "earth-friendly" consumers.