Student Innovations Compete for $60,000 in prizes during Michigan Business Challenge

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Business-challenge
Semi-finalists in the Michigan Business Challenge hope to wow judges

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.

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