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Participating in the MICHIGAN BUSINESS
CHALLENGEand Other Business Plan
Competitions
October 5 and October 22, 2007
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Overview of Presentation• Michigan Business Challenge, EVC
Quick Pitch, Great Lakes Entrepreneur Quest, intercollegiate business plan competitions
• Why you should participate• Why ZLI encourages participation• Next steps• Dare to Dream grant recipients
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ZLI Activities for 2007-08
Frankel Commercialization Fund Wolverine Venture Fund
Michigan Business Challenge& Intercollegiate Competitions
Entrepreneurial MAPdomestic & international
opportunities
Marcel Gani Internship Program(includes self-hosted internships)
Williamson CoE/RSBE-education Initiative
Entrepreneurial Studies Courses
Act
ion
-base
d L
earn
ing
New Business Development Seminars
ZLI Office Hours, Coaching and Executive Consulting
Cou
nse
ling
Michigan Growth Capital Symposium
Private Equity Conference
Entrepalooza: Exploration of entrepreneurship across multiple industries and business stages
Sym
posi
a/E
vents
Zell and Mondry Entrepreneurial Scholarships
Mingle ‘n’ Match
Aca
dem
ics
Business Developm
ent Programs
Business Development
Seminars
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Business DevelopmentDevelopment GrowthIdeation Assessment
OpportunityIdentification
IntegrationLaunch
& AcquisitionLiquidity
Mingle ‘n’ Match
Executive Consulting
Office Hours and Coaching
Michigan Business Challenge& Intercollegiate Competitions
Feasibility Study
Feasibility StudyHypothesisHypothesis Business PlanBusiness PlanExecutive
SummaryExecutive Summary
Potential ExitsPotential ExitsMarket Information
Market Information FinancialsFinancials
Elevator PitchElevator Pitch Building and Deliveringan Investor PresentationBuilding and Delivering
an Investor Presentation
Dare to Dream Grant Program
Opportunity IntegrationAssessment
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2007-2008 Contests• Michigan Business Challenge
– Runs from Fall B – February 15• Entrepreneur and Venture Club’s (EVC)
Quick Pitch – January 25
• Great Lakes Entrepreneur’s Quest (GLEQ)– Closely follows academic calendar
• Intercollegiate Competitions– Various weekends from February - May– Usually Thursday evening to Saturday afternoon
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Michigan Business Challenge• Began in 1984
– Supporting gifts from Millard Pryor and William Hale families.
• Close to $500,000 in prize money has been awarded– Award money at each phase
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Michigan Business Challenge
• 3-month long, university-wide competition with 4 rounds of increasing intensity
• Graduate and undergraduate competitors
• Judged by experienced entrepreneurs, service providers, and professional investors
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Michigan Business Challenge• Round 1 – teams enter a coherent Executive Summary
– 3 minutes to present, 3 minutes of Q/A
• Round 2 – 16 teams– Market and Financial Overview– 7 minutes to present, 10 minutes of Q/A
• Semi-finals – 8 teams– Business plan– 15 minutes to present, 15 minutes of Q/A
• Finals – 4 teams– Business plan– 30 minute interactive session
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Michigan Business Challenge
• Pryor Award for Best Business $15,000• Runner-up $ 5,000• Williamson Award for Outstanding
Business and Engineering team $ 5,000
• Erb Sustainable Award $ 5,000
• Best Written Plan $ 2,500• Outstanding Presentation (2) $
2,500
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MBC Schedule Overview• November 16, 2007 – Due: Executive Summary• November 30 - Round One• January 4, 2008 - Due: Seven-page market and
financial overview. • January 11 - Round Two• February 1 – Due: 20-page plan with full
financials. • February 15
– Morning - Semifinal Round– Afternoon - Final Round – Evening - Award winning teams will be announced at
a reception with the awardees of the Winter 2007 Dare to Dream Grant Program.
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Awards$40,000
$500
MBC Process and Prize Awards
Summary
BusinessPlan
Market &Financials
Round One:3m pitch3m Q&A
Round Two:7m pitch
10m Q&A
Semifinals:15m presentation
15m Q&A
Finals:3m pitch
27m discussion
$300
$200Pitch opportunity
1/12
1/5
12/111/10
2/16
2/16
2/2
FuturTechQuickPitch
1/26
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EVC Quick Pitch• University - wide, RSB focus• Hosted by the EVC as part of
FuturTech• Begun in 2001 at height of the
“boom”
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EVC Quick Pitch
• 3-minute pitch format• Focuses teams on messaging and
delivery, not full plan
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EVC Quick Pitch
• Awards vary from year to year• Winner receives auto-berth into the
Wake Forest Elevator competition
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EVC Quick Pitch• Early January - applications accepted
– usually one page summary
• January 22 - 8 to 12 participants selected and notified
• January 25 - All participants present during FuturTech– Awards announced by end of conference
• Seven years of operation
• ZLI is a founding board member
• Over 600 teams have entered
• Over $500,000 in prizes distributed
• Winning companies in existence: ~75%
• All major winners are still in operation– 2001: Velcura*– 2002: TJ Pulse– 2003: Adaptive
Materials– 2004: SensiGen– 2005: Spirit Shop
(Style High)*– 2006: Rapid BioSense– 2007: B. A. Maze, Inc.*
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Great Lakes Entrepreneur’s Quest
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Great Lakes Entrepreneur’s Quest
• Links students to statewide network– Emphasizes mentoring and connections– Includes mentoring by members of MVCA
• High level of exposure within Michigan
• Separate tracks for ideas and more mature start-ups
• Re-teaming and team building encouraged
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• Community based, statewide competitive format open to residents and students in Michigan
• Any high-growth team can join– Bias against service-only businesses– Bias against non-profits
• Two cycle competition– New Business Ideas– Emerging Companies
Great Lakes Entrepreneur’s Quest
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Great Lakes Entrepreneur’s Quest
• New Business Ideas– First Place: $5,000 cash, $2,500 in-kind– Runner-up: $1,000 cash, $1,500 in-kind
• Emerging Companies– Grand Prize: $25,000 cash, $7,500 in-kind– Runner-up: $5,000 cash, $5,000 in-kind
• Other Awards– $12,500 Automation Alley Advanced Mfg. Innovation– $12,500 NextEnergy Alternative Energy Innovation– $25,000 Live Science Innovation – $25,000 Information Technology Innovation
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• Two cycles of competition: Fall and Spring– October 31 deadline for fall– December: Submissions– January: Award ceremony – Repeat cycle in Spring
• Website is best source of informationwww.gleq.org
Great Lakes Entrepreneur’s Quest
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Intercollegiate BPCs• Compete against students from
universities all over the world• Variety of timelines, deliverables, and
formats• Widen networks to prominent
business leaders in a variety of high-powered businesses
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• To be eligible for most competitions, teams must advance to Round Two of the Michigan Business Challenge
• ZLI pays travel and expenses for most competitions
• Complete MBC obligations, attend seminars
• Meet the other competition’s requirements
• Submit all information and make travel arrangements on a timely basis
Intercollegiate BPCs
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• Vary from $10,000 cash to $100,000 investment– Awards for runners-up and “special” interests
also
• Can include – In-kind services– Inducement to relocate– Combination of the above
• Michigan teams typically earn tens of thousands of dollars each year in BPCs
Intercollegiate BPCs
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2004 2005 2006 2007
# of competitions 13 13 16 14
# of teams 12 12 15 11
# of students 29 41 34 32
WinnersKACE, SDSU
WFU,GLEQ, MBA
Jungle
CMU, Nebrask
a
FinalistsIndiana,
HBS, GSVC
MOOT Corp, SDSU, HBS,
CMU, Rice
SDSU, USF, Ball
State, Boise
WFU, CMU,
Manitoba,
Cleantech, Ball State
Total prize $~$25,00
0~$30,000
~$50,000
~$25,000
Intercollegiate BPCs
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Why should you participate?• Develop entrepreneurial skills and
experience• Expand team and business network• Help foster mentoring relationships• Encourage progress through deadlines• Support business development activities
and research outside of the classroom• Receive a plethora of feedback from a
huge assortment of people from an incredible amount of industries
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Why should you participate?• Discover an alternative career path• Prize money• Travel opportunities• Develop presentation skills
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Why does ZLI bother?
• Demonstrates U-M and RSB as an entrepreneurial school
• Highlights talent of U-M students, research, programs, etc.
• Advances student entrepreneurial skill development
• Supports the creation of new businesses
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Why does ZLI bother?
• Keeps community links vibrant• Creates public relations opportunities
for U-M, RSB, ZLI and teams• Strengthens Institute relationships
with students• Builds a track record of student
engagement
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What to do now ?
• Attend November 1st evening session on preparing an effective executive summary
• Complete the Intent to Compete Form with– Complete 3-page executive summary as
a .pdf– Contact info for team members– To zlicontact@umich.edu by 11/16/07 at
8:00 a.m.
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How do I find team members?• Participate in the next Mingle ‘n’
Match on October 30• Post on iMpact
– Position must begin with “MBC”– Useful for team building for Dare to
Dream
• Email rachelul@umich.edu
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Review of Presentation• Michigan Business Challenge, Quick
Pitch, GLEQ, intercollegiate business plan competitions
• Benefits for your participation• Why bother participating?• Benefits to ZLI for your participation• What to do now• Dare to Dream grant recipients
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Dare to Dream Comments• Recipients were those who:
– Provided complete answers– Offered information about what makes
their company unique
• Applications must:– Show effort and thought– Have all the questions answered– Not throw things at the wall to see what
sticks– Team members add value to the team
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Dare to Dream Opportunity Comments
• Applications:– Ideas are NOT innovation– Social networking with a smaller base is
not a company– Self-motivated companies will not receive
grants• Recipients :
– Articulate innovation with clear benefits to user or customer
– Statements about what makes innovation different from current market
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Dare to Dream Assessment Comments
• Applications:– Very poor, overall– Rarely discussed what made particular
company unique or sustainable– Companies that would exist if someone
else created technology first• Recipients :
– Clear understanding of value proposition to customer
– Clear definition of what the company will be
– Value provided is consistent with identified need
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Dare to Dream Integration Comments
• Applications:– Most were for products or features, not
companies– Value proposition was not stated– Insufficient information was provided,
competition was not appropriately addressed
• Recipients:– Expressed clear ideas well– Market size was stated and clear– Competition was clearly and fully described
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Dare to Dream Grant Recipients
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Dare to Dream Opportunity Grant
General Aerodynamics Helios
James Cho
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Dare to Dream Opportunity Grant
Haniwa Raptor Security Systems
David Gaucher and Quoc Luu
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Dare to Dream Opportunity Grant
Hearing Protection Indicator
Robert Littrell
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Dare to Dream Opportunity Grant
i2
Katie Miller
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Dare to Dream Opportunity Grant
Maxim Investments
Maxim Yutsis
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Dare to Dream Opportunity Grant
Modern Portfolio Auctions
Miles Putnam
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Dare to Dream Opportunity Grant
Second Eye
Ted Way
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Dare to Dream Opportunity Grant
SensoWear
Meghan Cuddihy and Edward Jan
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Dare to Dream Assessment Grant
Audiallo
Aaron Nelson
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Dare to Dream Assessment Grant
GIDEON
Mark Birac and Ankit Shah
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Dare to Dream Assessment Grant
Home Counting
Brian Burstein and David Lorch
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Dare to Dream Assessment Grant
Innovet
Rohan Mendonza
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Dare to Dream Assessment Grant
Indian Medical Group
Sateesh Srinivasan and Sharad Gupta
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Dare to Dream Assessment Grant
Neupharma Microdevices
Cory Costley, Matt Gibson, and John Seymour
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Dare to Dream Assessment Grant
Productive Kitchens
Babu Sambamoorthy and Israel Vicars
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Dare to Dream Assessment Grant
Sustainable Food Service
Mary Lemmer and Vanshika Vij
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Dare to Dream Integration Grant
Army Property
Angelo Adams, Ambra Heard, Parren James, Ben Kozma, and
Sherman Powell
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Dare to Dream Integration Grant
ePack Corps
Jay Stewart Mitchell, Sang Woo Lee, and Akshai Rao
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Dare to Dream Assessment Grant
MSignS
Michael Barfuss, Jason Gilbert, and Judy Yu
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Dare to Dream Assessment Grant
Slow Kitchen Post
Robert Fetter
Questions?
Michigan Business Challengeand Other Business Plan
CompetitionsInformation Session
Michigan Business Challengeand Other Business Plan
CompetitionsInformation Session
Michigan Business Challengeand Other Business Plan
CompetitionsInformation Session
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ZLI Activities for 2006-07DevelopBusiness
GrowBusiness
Ideate Business Assess BusinessOpportunityIdentification
IntegrationBusiness Launch
& AcquisitionLiquidity Event
Manage Turn-around
Frankel Fellows Program Wolverine Venture Fund
Michigan Business Challenge& Intercollegiate Competitions
Entrepreneurial MAPdomestic & international opportunities
Marcel Gani Internship Program(includes self-hosted internships)
Dare to Dream Grant Program
Williamson – CoE/RSBE-education Initiative
Entrepreneurial Studies Courses
Act
ion-b
ase
d L
earn
ing
MBC Business Planning Training Sessions
ZLI Office Hours: one-on-one counseling
Cou
nsel
ing
Michigan Growth Capital Symposium
Emerging Industries: in-depth exploration of an industry and/or technology
Entrepalooza: Exploration of entrepreneurship across multiple industries and business stages
Sym
posi
a
Zell and Mondry Entrepreneurial Scholarships
Opportunity Assessment Integration
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When are they?• MBC begins Fall B, runs through
February• Quick Pitch in January• GLEQ in January and May• Intercollegiate contests begin mid-
February and run through early May– Usually a Thursday evening to Saturday
afternoon format
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When are they?• History • Purpose• Format• Award• Schedule