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Programs & Funds
  1. Programs & Funds
  2. Michigan Business Challenge

Michigan Business Challenge

University of Michigan Business Challenge 2018The Michigan Business Challenge is a campus-wide, multi-round business plan competition where student teams have the opportunity to win cash prizes totaling over $100,000, gain feedback from leaders in the business community, and expand their business network.

The Challenge takes participants through the entire cycle of new venture creation from creating a strong pitch to conducting a marketing and financial assessment and writing a comprehensive business plan. The competition kicks off in November with more than 100 teams competing in the first round and concludes in February with four competing teams in each of the track finals. The competition boasts three separate tracks including the Seigle Impact Track, the Innovation Track, and the Invention Track.

During each round, teams will pitch to a new panel of judges composed of entrepreneurs and investors.

Teams that advance to Round Two will also be eligible for consideration to participate in intercollegiate business plan competitions and receive coaching and financial support from the Zell Lurie Institute to prep for and cover competition travel expenses.

In addition to hosting the competition, the Zell Lurie Institute facilitates startup workshops to help prepare student teams for the deliverables due for each round of the competition.

Round One - Kick-off of the competition where more than 100 teams from across campus are expected to compete. Any current U-M Ann Arbor student that submits a complete application with an eligible venture will be invited to compete in Round One. Teams will submit a three-minute pitch video (no slides) which will be viewed and scored by a panel of judges followed by three minutes to answer questions. Approximately 60 teams will be chosen to advance to Round Two (up to 20 teams per track).

Round Two - Approximately 60 teams in three tracks will give a three-minute pitch (no slides) to a new panel of judges followed by four minutes to answer questions. Sixteen to twenty teams (total across three tracks) will be chosen to advance to the Semi-Finals. 

Semi-Finals - Between 16 and 22 teams will advance from Round Two to compete in this round. Competing teams give a seven-minute presentation that describes their company's solution to a pressing market need or pain, an estimation of the market size, and their financial assumptions. This is followed by ten minutes of questions from a new panel of judges. Twelve teams (four in each track) will be chosen to advance to the finals. 

Finals - Twelve teams will complete a full business plan and investor presentation. Finalists present their business plans for 15 minutes and will have 15 minutes to respond to questions from a new set of  judges. One winner will be chosen by the judges in each track (three winners, each winning $15,000).

Best in Business - The winner from each track will compete for an additional $5,000 prize–the OneMagnify Best in Business prize.

Join us for a 2023 Michigan Business Challenge Information Session to be held at Ross School of Business in R0210 on Monday, October 24, at 6:00 p.m.  

Michigan business challenge eligibility and application process

Seigle Impact Track

The Michigan Business Challenge Seigle Impact Track, with prizes totaling over $26,000, recognizes the business plan that best pursues a mission-driven goal. This award aims to stimulate the creation of new businesses, products or services that prioritize social and/or environmental considerations. This track of the competition is sponsored by the Mark and Robin Seigle Entrepreneurial Innovation Fund and co-managed by Business + Impact at Ross, the Erb Institute for Global Sustainable Enterprise, and the Zell Lurie Institute for Entrepreneurial Studies. 

MBC Innovation Track

The MBC Innovation Track recognizes new ventures that offer a product, service, mobile application, or platform serving consumers or enterprises.

MBC Invention Track

The MBC Invention Track recognizes ventures that have intellectual property at the core of their high-tech venture and aims to stimulate the creation of new businesses in life sciences, physical sciences, mobility, AR/VR, and more.

Eligibility & Exclusions

Eligibility

  • The Michigan Business Challenge is open to all current U-M Ann Arbor undergraduate and graduate students. Teams may add or remove members throughout the competition.

  • At least one member of the student team must be the author of the business plan.

  • The proposed business may be for a consumer or industrial product or service. The business may be for-profit or non-profit, though most competitive businesses demonstrate high growth and/or large market potential.

  • Teams of students from different colleges within the University may submit a business plan. Only current U-M Ann Arbor students may present the business before the judges, even if the team includes students from other campuses, different universities or non-students.

  • Current U-M students must own significant equity in the venture and must hold major positions within the startup. 

Exclusions

  • Buy-outs/turn-arounds, expansions of existing companies, real estate syndications, tax shelters, franchises, licensing agreements for distribution in a different geographical area, and spin-outs from existing companies.

  • Ventures with significant revenue prior to the current academic year. Ventures that have raised equity capital from sources other than the members of the student team before the current academic year.

A business venture that reaches the Finals may not compete in future Michigan Business Challenges.

Prizes & Past Winners

Prizes & Past Winners

2022 Winners: 

Great Quality Development – Seigle Impact Track First Place for $15,000. Founded by Hattie McKinney, (JD ’22).

Clear Computing – Seigle Impact Track Second Place for $7,5000. Founded by James Giordani, (MSW ’22).

BotNot – Pryor-Hale First Place Innovation Track for $15,000 and OneMagnify Best in Business Award. Founded by Jordan Shamir, (MBA ’23).

Phonica – Second Place Place Innovation Track. Cofounded by Akhil Kondepudi (BS ‘22), Tejas Gumudavelly (BBA ‘24), Rohan Kodati (BSE ‘24), and Felix Hu (BS ‘23).

MedVision – Pryor-Hale First Place Invention Track for $15,000. Cofounded by Anurag Bolneni (MSI ‘22), Raghu Arghal (MSE/BSE ‘20), and Grant Veldhuis (BSE ‘23).

Arbor Simulation – Second Place Invention Track for $7,500. Cofounded by Dylan Rushton (MSE ’21) and Kiran Rushton (BBA ’22).

2021 Winners: 

Parcel Health - Seigle Impact Track First Place and received $15,000, in addition to the Michigan Investment Challenge (MIC) investment for $2,000, and the OneMagnify Best in Business Award for $5,000. Cofounded by Melinda Su-En Lee (PharmD ’21) and Victor Le (PhD ’21).

CLOVO Brand - was Seigle Impact Track Second Place for $7,500. Cofounded by Megan Martis, (MS ’21).

Lease Magnets - Innovation Track Pryor-Hale First Place award for $15,000, the undergraduate student startup was also awarded the $5000 Williamson Award for Outstanding Cross-Functional Team, and the Sillman Undergraduate Team Award for $5,000. Cofounded by Amulya Parmar (BBA/BS ’22) and Varun Madan (BBA ’21). 
 

Aurora Tights - Innovation Track Second Place for $7,500, and runner-up in the MBC Elevator Pitch Competition. Cofounded by Imani Rickerby (MHSA ’21).

EpiSLS - Pryor-Hale First Place award in the Invention Track for $15,000 and the $5,000 Pinkert Healthcare Award for student startup team with the most potential to improve the future of healthcare. Founded by Parker Martin (MD, MBA ’22).

Surgical ComfORt - Invention Track Second Place for $7,500. Cofounded by Mark Farha (MD/MBA ’22), Lauren LaMonica (MD ’24), Devlin McConnell (MBA ’22), Christopher Tossas (PhD BME ’22), and Yuvraj Singh (MSE ’22).

2020 Winners:

Lillian Augusta – OneMagnify Best in Business ($5,000), Seigle Impact Track First Place ($15,000), MIC Investment Prize ($2,000). Lillian Augusta is a brand that revolutionizes Black hair care by offering hair without harm. Jannice Newson (MS ‘20) & Nana Britwum (MS ‘20). 

Comme Homme – Pryor-Hale Innovation Track First Place $15,000. Comme Homme is a direct-to-consumer cosmetic and lifestyle brand serving American bald men. Kene Onuorah (MBA '21) & Mejoy Lawson (MBA ‘21). 

SlumberFlow -  Pryor-Hale Invention Track First Place ($15,000), Williamson Award for Outstanding Cross-Functional Team ($5,000), Elevator Pitch First Place ($500). SlumberFlow designs and manufactures a nasopharyngeal airway device to reduce the negative effects of sleep apnea caused by upper airway obstruction. Allison Powell (MSE ’16, MD ’21) Juan Noda (MD/MBA ’20), & Lindsey Furness (BSE ’21).

For Dearborn (4D) – Seigle Impact Track Second Place ($7,500), Best Showcase ($250). For Dearborn (4D) creates space for Arab and/or Muslim Americans (AAM) to self actualize and thrive through digital media, programming, fashion and philanthropy. Rima Imad Fadlallah (MBA ‘20).  

Naya – Innovation Track Second Place ($7,500), Elevator Pitch Third Place ($100), Naya produces simple and delicious banana-based, non-dairy ice cream because customers shouldn't have to choose between real, healthy foods and dessert. Mimi Huet (MBA ’20). 

SSInnovations – Invention Track Second Place ($7,500), Sillman Best Undergraduate Award ($5,000). SSInnovations is developing an innovative eyelid speculum that improves the comfort, safety, and cost-effectiveness of intravitreal injection procedures. Braden Shugarman (BBA '22). 
 
2019 Winners: 

Calcium Solutions, Pryor-Hale award for best business for $25,000 as well as the new Michigan Investment Challenge (MIC) Investment for $2,000 and one of two Best Presentation Awards. Robert Chisena (PhD ‘19) and Matthew Hildner (PhD ‘20). 
Holly Keith Lingerie, Pryor-Hale Runner-up award for Best Business for $10,000, and one of two Marketing Awards, sponsored by Marketing Associates, for $2,500. Holly Meyers (MBA ‘19).

Dear Black Women, Seigle Impact Track Grand Prize of $15,000. Florence Noel (MBA/MSI ‘19).

Practical Prosthetics, Seigle Impact Track Runner-up for $7,500, the Sillman Award for Best Undergraduate Team for $5,000, and the Williamson Award for Outstanding Cross-Functional Team for $5,000. Harrison Price (BSE ‘21), Joseph Schuman (BS ‘21), Ethan Russo (BBA ‘21), and Anthony Salmeron (BSE ‘21). 

NeoHealth, Small Giants Positive Organizing Award for $2,500 and the Best Showcase Award.  Sujai Arakali (BS ‘20) and Derrell Chapman (BS ‘19). 
Acqua e Rosa, took home the second of two Best Presentation Awards. Mariam Jalloul (MBA/MPH ‘19).
Eastern Bazaar, was awarded the second of two Marketing Awards, sponsored by Marketing Associates, for $2,500.

2018 Winners Include: 

Clot Buster, Pryor-Hale award for best business for $25,000, and one of two Outstanding Presentation awards for $2,000. Luis Savastano, M.D., Yihao Zheng (PhD ‘16), Jeffrey Plott (PhD ‘17), and Joshua Cockrum (BS ‘16).

MedKairos Inc., Pryor-Hale Runner-Up Award for $10,000 as well as one of the two Outstanding Presentation awards for $2,000. Michael Moore (MD ’21) and Andy Kozminski (MSE ’19, MD ’20).

Advanced LIDAR Semantics (ALISE), $2,500 finalist award. Sanmeet Jasuja (MBA/MSI ’18), Brian Shahbazian (MS ’18), Ryan Branch (BSE ’18) and Minjeong Cha (PhD).

PedalCell, $15,000 Seigle Impact Track first place and a $2,000 Outstanding Presentation Award. Adam Hokin (BBA ’19) and Anna Moreira Bianchi (MBA ’19).

Canopy, $7,500 Seigle Impact Track runner-up award and the second place Elevator Pitch Award for $250, Ann Duong (MHI ’18) and Brandon Keelean (MDes ’18).

FoodFinder, $2,500 Seigle Impact Track finalist award and a first place Elevator Pitch Award for another $500. Jack Griffin (BBA ’19).

 

2017 Winners Include:

SAHI Cosmetics,  Pryor-Hale award for best business for $25,000, and one of two Outstanding Presentation awards for $2,000.  Sheleen Sahi  (MBA ’17).
proteinbits, Pryor-Hale Runner-up award for Best Business for $10,000, Most Successful Undergraduate team award for $2,500, one of two  Outstanding Presentation awards $2,000, and one of two Marketing Awards, sponsored by the Marketing Associates, for $2,500. Ellis Fried (BA ’17)

AIM Tech,  Seigle Impact Track Grand Prize Winner $15,000, and one of two Marketing Awards, sponsored by the Marketing Associates, for $2,500. Stephen John (MD ’19) and Aaron Steiner (MBA ’17)
Sage & Grace, Seigle Impact Track Runner-up award $7,500. Holly Price (MBA ’17)
Carrycott, Williamson Award for $5,000 for the most successful business and engineering team. Benjamin Eu (BSE ’19), Jolene Ng (BSE ’18) and Natalie Shepich (BBA ’19)
Find Your Ditto, third place in the Seigle Impact Track, $2,500. Parisa Soraya (MHI’17)
Morning Brew, Best Written Plan award for $2,000. Austin Rief (BBA ’17)

 

2016 Winners Include: 

PreDxion Bio, Pryor-Hale award for best business for $25,000, and the Williamson Award for $5,000 for the most outstanding business and engineering team. Represented by Caroline Landau (MBA '16) and Walker McHugh (MSE '17).

Gaudium, Pryor-Hale Runner-up award for Best Business for $10,000, the Best Written Plan award for $2,000, and one of two Marketing Awards, sponsored by the Marketing Associates, for $2,500. The Gaudium team, is comprised of David Cai (BS '16), Amanda Li (MAcc '16), and Kevin Jeon (BA '16).
Kulisha, Social Impact Track Grand Prize. Represented by CoFounder Eric Katz (BBA '17). 
StepFor, Social Impact Track Runner Up. Team members include Jordan Golshan (BBA ’17), Andy Jinseok Lee (MS ’17), and Josh Hyorim Kim (BS ’17). 
AOE Medical, Most Successful Undergraduate team award for $2,500 and one of two Outstanding Presentation awards for $2,000. Represented by Arianna Carley (BSE '17), Eli Fox, (BA '17), Christina Tang (BS '18), and Brandon Boot (BSE '17).
Sage & Grace, Outstanding Presentation award for $2,000. Founder Holly Price (MBA '17).
CARt, Marketing Award, sponsored by Marketing Associates, for $2,500. Represented by Ali Jensen (MPH '16), Stacey Matlen (MPH '16), Christine Priori (MBA/MPH '17), Mikaela Rodkin (MBA/MS '17).

 

 

Apply

Application Deadline

The application deadline for the 2023 Michigan Business Challenge is 8:00 a.m. Tuesday, November 1, 2022.  

The application for the 2023 Michigan Business Challenge includes three parts: a video upload, Intent to Compete form, and Google survey form. Current U-M Ann Arbor students can find the entire application, full instructions, and submission access here: https://umich.instructure.com/enroll/XTLNG8. Please email MichiganBusinessChallenge@umich.edu with any questions.

 

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