Michigan Business Challenge
Overview | Format |
Awards | 2010
Winners | 2010 Intercollegiate
Competitions
Student teams that want to put their business skills
to the test should participate in the Michigan Business
Challenge (MBC). They will gain invaluable feedback from
judges, expand networks, and compete for more than $50,000.
All students who write a complete executive summary for
their proposed business will compete in Round One of the
Michigan Business Challenge. Those that advance to Round
Two, Semi-Finals, and Finals will write a marketing and
financial overview for their company and finish a complete
business plan. During each round, teams pitch their businesses
to a panel of judges comprised of entrepreneurs and investors
and answer their questions. Teams that advance to Round
Two will be considered for travel to intercollegiate
business plan competitions. These contests are opportunities
for students to continue developing their plans, to receive
more feedback, and to expand their networks. Travel expenses
for current University of Michigan students may be covered
by the Institute.
Business development sessions will be held periodically
to help students create their venture and write the relevant
documents for their businesses. After each training, the
PowerPoint presentation and questions that were asked
will be posted on Ctools
under the group "Zell Lurie Institute." Public
business planning resources
are also available for teams to use.
Eligibility:
-
This
competition is open to all current University of Michigan
undergraduate and graduate students and current Medical
Innovation Center Fellows. Teams may add or remove team
members throughout the competition
-
At least
one member of the student team must be the author of
the business plan.
-
The proposed
business may be for a consumer or an industrial product
or service. The business may be for-profit or non-profit,
though most competitive businesses demonstrate high
growth and/or large market potential.
-
Teams
of students from different colleges within the University
may submit a business plan. Only current students of
the University of Michigan-Ann Arbor may present the
business before the judging panel even if the team contains
students from other campuses, different universities,
or non-students.
Exclusions:
-
Excluded from this competition are: buy-outs/turn-arounds,
expansions of existing companies, real estate syndications,
tax shelters, franchises, licensing agreements for distribution
in a different geographical area, and spin-outs from existing
companies.
-
Ventures
with revenue prior to the current academic year are
excluded. Ventures that have raised equity capital from
sources other than the members of the student team before
the current academic year are excluded.
-
A business
venture that reaches the Finals may not compete in future
MBCs.
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