Michigan Business Challenge - Info

Slide 1: Participating in the MICHIGAN BUSINESS CHALLENGE and Other Business Plan Competitions October 5 and October 22, 2007

Slide 2: 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 2

Slide 3: ZLI Activities for 2007-08 Entrepreneurial MAP Williamson CoE/RSB Michigan Business Challenge domestic & international E-education Initiative & Intercollegiate Competitions Action-based Learning opportunities Frankel Commercialization Fund Wolverine Venture Fund Marcel Gani Internship Program (includes self-hosted internships) Academics Symposia/Events Counseling New Business Development Seminars ZLI Office Hours, Coaching and Executive Consulting Michigan Growth Capital Symposium Mingle ‘n’ Match Entrepalooza: Exploration of entrepreneurship across multiple industries and business stages Private Equity Conference Zell and Mondry Entrepreneurial Scholarships Entrepreneurial Studies Courses 3

Slide 4: Business Development Opportunity Launch Ideation Assessment Integration Development Growth Liquidity Identification & Acquisition Michigan Business Challenge & Intercollegiate Competitions Business Development Dare to Dream Grant Program Programs Opportunity Assessment Integration Mingle ‘n’ Match Executive Consulting Office Hours and Coaching Feasibility Executive Hypothesis Business Plan Study Summary Market Financials Potential Exits Information Business Building and Delivering Elevator Pitch an Investor Presentation Development Seminars 4

Slide 5: 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 5

Slide 6: 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 6

Slide 7: 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 7

Slide 8: 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 8

Slide 9: 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 9

Slide 10: 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. 10

Slide 11: MBC Process and Prize Awards 11/10 12/1 Round One: 1/5 Summary 3m pitch Market & Pitch opportunity $200 3m Q&A Financials 1/12 Round Two: Finals: 2/16 7m pitch 3m pitch 10m Q&A 27m discussion 2/2 Awards Business $40,000 Plan $300 2/16 Semifinals: 15m presentation 1/26 15m Q&A FuturTech QuickPitch $500 11

Slide 12: EVC Quick Pitch • University - wide, RSB focus • Hosted by the EVC as part of FuturTech • Begun in 2001 at height of the “boom” 12

Slide 13: EVC Quick Pitch • 3-minute pitch format • Focuses teams on messaging and delivery, not full plan 13

Slide 14: EVC Quick Pitch • Awards vary from year to year • Winner receives auto-berth into the Wake Forest Elevator competition 14

Slide 15: 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 15

Slide 16: Great Lakes Entrepreneur’s Quest • Seven years of • All major winners are operation still in operation • ZLI is a founding – 2001: Velcura* board member – 2002: TJ Pulse • Over 600 teams have – 2003: Adaptive Materials entered – 2004: SensiGen – 2005: Spirit Shop (Style • Over $500,000 in High)* prizes distributed – 2006: Rapid BioSense • Winning companies in – 2007: B. A. Maze, Inc.* existence: ~75% 16

Slide 17: 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 17

Slide 18: Great Lakes Entrepreneur’s Quest • 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 18

Slide 19: 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 19

Slide 20: Great Lakes Entrepreneur’s Quest • 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 information www.gleq.org 20

Slide 21: 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 21

Slide 22: Intercollegiate BPCs • 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 22

Slide 23: Intercollegiate BPCs • 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 23

Slide 24: Intercollegiate BPCs 2004 2005 2006 2007 # of competitions 13 13 16 14 # of teams 12 12 15 11 # of students 29 41 34 32 WFU, KACE, CMU, Winners GLEQ, MBA SDSU Nebraska Jungle SDSU, WFU, CMU, MOOT Corp, Indiana, USF, Ball Manitoba, Finalists SDSU, HBS, HBS, GSVC State, Cleantech, CMU, Rice Boise Ball State Total prize $ ~$25,000 ~$30,000 ~$50,000 ~$25,000 24

Slide 25: 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 25

Slide 26: Why should you participate? • Discover an alternative career path • Prize money • Travel opportunities • Develop presentation skills 26

Slide 27: 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 27

Slide 28: 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 28

Slide 29: 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. 29

Slide 30: 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 30

Slide 31: 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 31

Slide 32: 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 32

Slide 33: 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 33

Slide 34: 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 34

Slide 35: 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 35

Slide 36: Dare to Dream Grant Recipients 36

Slide 37: Dare to Dream Opportunity Grant General Aerodynamics Helios James Cho 37

Slide 38: Dare to Dream Opportunity Grant Haniwa Raptor Security Systems David Gaucher and Quoc Luu 38

Slide 39: Dare to Dream Opportunity Grant Hearing Protection Indicator Robert Littrell 39

Slide 40: Dare to Dream Opportunity Grant i2 Katie Miller 40

Slide 41: Dare to Dream Opportunity Grant Maxim Investments Maxim Yutsis 41

Slide 42: Dare to Dream Opportunity Grant Modern Portfolio Auctions Miles Putnam 42

Slide 43: Dare to Dream Opportunity Grant Second Eye Ted Way 43

Slide 44: Dare to Dream Opportunity Grant SensoWear Meghan Cuddihy and Edward Jan 44

Slide 45: Dare to Dream Assessment Grant Audiallo Aaron Nelson 45

Slide 46: Dare to Dream Assessment Grant GIDEON Mark Birac and Ankit Shah 46

Slide 47: Dare to Dream Assessment Grant Home Counting Brian Burstein and David Lorch 47

Slide 48: Dare to Dream Assessment Grant Innovet Rohan Mendonza 48

Slide 49: Dare to Dream Assessment Grant Indian Medical Group Sateesh Srinivasan and Sharad Gupta 49

Slide 50: Dare to Dream Assessment Grant Neupharma Microdevices Cory Costley, Matt Gibson, and John Seymour 50

Slide 51: Dare to Dream Assessment Grant Productive Kitchens Babu Sambamoorthy and Israel Vicars 51

Slide 52: Dare to Dream Assessment Grant Sustainable Food Service Mary Lemmer and Vanshika Vij 52

Slide 53: Dare to Dream Integration Grant Army Property Angelo Adams, Ambra Heard, Parren James, Ben Kozma, and Sherman Powell 53

Slide 54: Dare to Dream Integration Grant ePack Corps Jay Stewart Mitchell, Sang Woo Lee, and Akshai Rao 54

Slide 55: Dare to Dream Assessment Grant MSignS Michael Barfuss, Jason Gilbert, and Judy Yu 55

Slide 56: Dare to Dream Assessment Grant Slow Kitchen Post Robert Fetter 56

Slide 57: Questions?

Slide 58: Michigan Business Challenge and Other Business Plan Competitions Information Session

Slide 61: ZLI Activities for 2006-07 Develop Grow Opportunity Business Launch Business Business Ideate Business Assess Business Integration Liquidity Event Identification & Acquisition Manage Turn-around Ac tion-b a s e d Le a rning Williamson – CoE/RSB Michigan Business Challenge Entrepreneurial MAP E-education Initiative & Intercollegiate Competitions domestic & international opportunities Frankel Fellows Program Wolverine Venture Fund Dare to Dream Grant Program Marcel Gani Internship Program Integration (includes self-hosted internships) Opportunity Assessment MBC Business Planning Training Sessions Counseling ZLI Office Hours: one-on-one counseling Michigan Growth Capital Symposium Symposia Entrepalooza: Exploration of entrepreneurship across multiple industries and business stages Emerging Industries: in-depth exploration of an industry and/or technology Zell and Mondry Entrepreneurial Scholarships Entrepreneurial Studies Courses 61

Slide 62: 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 62

Slide 63: When are they? • History • Purpose • Format • Award • Schedule 63

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