Student Innovations Compete for $60,000 in prizes during Michigan Business Challenge
It started at the end of last year, when more than 70 teams pitched their business ideas to a panel of judges in hopes of making an impression and winning a spot in the finals. And when the eight remaining teams take the stage during the last rounds of the Michigan Business Challenge this Friday, they’ll be vying for a shot at some $60,000+ in seed money or scholarships.
UPDATE 2/26/2014: More than $113,000 in prizes were awarded during this year's challenge. Check out a complete list of awards and recipients.
The challenge is an intense, rigorous, multi-phase business development competition run by the No. 1 ranked Zell Lurie Institute for Entrepreneurial Studies, who also helps provide mentoring from Ross professors throughout the process.
Before arriving at the finals, teams had to submit an in-depth market and financial assessment document and present to the judges how their product or service meets a market need.
The semi-finalists include:
- A web-based app dermatologists can use to more efficiently provide follow-up screenings to patients with the most-common diagnoses
- A mobile app that organizes and catalogs your professional contacts and sends you alerts to suggest relevant reasons to stay in touch with your network
- A reusable drinking bottle that flips completely inside out to help with cleaning
- A mobile app that will track travel patterns and help you choose which currently available electric vehicle can meet your needs
- See a complete list. [PDF]
The final rounds will consist of a 15-minute presentation followed by a Q+A and then a 25-minute interactive session where the final four teams will discuss their business proposal in-depth with the judges.
Winners will be announced in a public session on Friday, Feb. 21 at 5:30 pm in the Colloquium.