CMU's New Venture Competition raises top awards to $65,000 for best student startups

The College of Business Administration’s Isabella Bank Institute for Entrepreneurship will present more than $65,000 in awards to student business ventures for startup capital at the third annual New Venture Competition on March 22 at 9 a.m. to 5:45 p.m. in the Education Human Services building on CMU’s campus.

 

The 30 student teams from CMU and Michigan Technological University will present business plans for a variety of projects.  The teams competing, some of them in the idea stage and others are established businesses, vary from cutting edge products and technology poised to transform the way we live to initiatives with a social mission addressing global needs.

 

“These student teams receive priceless interaction with alumni entrepreneurs business and venture capital experts from across the state,” said Debra Zellner, executive director of the Isabella Bank Institute for Entrepreneurship.

 

The daylong event features three rounds of competition, including a luncheon panel with entrepreneurial experts from around the state. A pitch competition offers an additional opportunity for awards. Winning teams will be announced at an evening awards ceremony at 5:45 to 8 p.m. in McGuirk Arena. CMU Research Corporation also will present its Entrepreneur of the Year award at the ceremony.

 

Students participating in this year’s competition represent all current academic areas of the university. Judges and panelists represent business leaders from throughout Michigan and beyond, as well as numerous successful CMU alumni entrepreneurs. Mike Finney, president and CEO of Michigan Economic Development Corp. is the keynote speaker at the awards event and a participant in a panel discussion.

 

This year’s competition offers eight awards including two Make a Pitch winners, a Social Venture award and the Most Impact on Michigan award among others.

 

“What’s clear is CMU students and our counterparts at Michigan Tech have great ideas,” said Chuck Crespy, dean of CMU’s College of Business Administration. “Through this competition students are transforming their passion into entrepreneurial success.”