Ross and Zell Lurie Institute Kick Off Largest Ever Michigan Business Challenge
It’s a staple of what makes entrepreneurship programs at Michigan Ross among the best in the world.
And now, it’s bigger than ever before.
The students make up more than 100 start-up businesses, all vying for upwards of $85,000 in prize money and startup funding to help bring their ventures to life. It’s the largest number of teams to ever participate in the competition.
Participants are from across the University of Michigan, including the Michigan Ross MBA, BBA, and Master of Management programs.
After presenting their initial pitch to a panel of judges made up of venture capitalists, investors, executives, and other business experts, teams will receive detailed feedback on their business concepts.
Only 20 teams will advance to the semi-final round of competition in January. Between now and then, the semi-finalists will meet with mentors and advisors to refine their business plans, update their pitches, and strengthen their case for winning.
The final round of competition will take place in February 2017, when four final teams will make their case for taking home the $25,000 first-place check.
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And use the tag #UMMBC17 to tweet along.
This is also the third year the Michigan Business Challenge will offer an Impact Track, with a separate prize of $15,000 for the winning business whose venture offers both financial and social value.
Recent winners of the Michigan Business Challenge include Companion, a phone app from Ross BBA students that has been lauded in the national media as the next great revolution in personal safety; and PreDxion, a medical diagnostic tool from a team that includes a Ross MBA student, which significantly advances blood analysis capabilities. PreDxion went on to win more than $100,000 in additional funding at the largest business plan competition in the world.