Michigan Business Challenge: What You Need to Know

Shannon Beeman
November 8, 2010

University of Michigan students have less than a week to submit their executive summaries in order to take part in the 2011 Michigan Business Challenge.  The annual campus-wide competition is for students who have a business idea and want to put it to the test.  As they progress through the challenge, students will develop a complete business plan, gain feedback from judges, expand their network and compete for more than $60,000. For eligibility, deadlines and details, visit the Zell Lurie Institute website: http://www.zli.bus.umich.edu/events_programs/busplan_competition.asp

Here are important deadlines to note for each round of the Michigan Business Challenge:

  • Round One
  • Deliverable: Submit an executive summary and Intent to Compete form by Monday, November 15th before 8:00am
  • Competition: Teams give a three-minute pitch to a panel of judges on Friday, December 3rd beginning at 1:00pm
  • Round Two
  • Deliverable: Advancing teams submit a Market and Financial Overview by Friday, January 7th before 8:00am
  • Competition: Teams give a seven-minute presentation to judges followed by a Q&A on Friday, January 21st beginning at 1:00pm
  • Semi-finals and Finals
  • Deliverable: Submit a 20-page business plan (hard and electronic copy) on February 1st before 8:00am
  • Competition: Teams present their business plans to judges on Friday, February 18th at 9:00am. Four of the eight teams that present move on the Finals that afternoon where teams proceed through a 25-minute Q&A.  Winning teams are announced at the evening reception