ANN ARBOR – Twenty-seven University of Michigan student lead teams of entrepreneurs split $60,000 in grants awarded by the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the University of Michigan Ross School of Business.

The students were winners of the 2009 Eugene Applebaum Dare to Dream Grant and 2009 Michigan Business Challenge awards. This

competition, coupled with coursework, faculty mentoring and professional

networking, translates the passion that students have for entrepreneurship

into viable career options and businesses, the Institute said in a press release.

“Programs like the Michigan Business Challenge and Dare to Dream have

been critical components of the action-based entrepreneurial education that

the Zell Lurie Institute provides,” said Tom Kinnear, Executive Director of

the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies.

“Over the last several years, we have witnessed an increased commitment to

entrepreneurship as a viable career path among our MBA candidates. Many

students enter the program intent on bringing their own business ideas to

fruition, leveraging coursework and events such as the Michigan Business

Challenge to fine tune business ideas, develop go to market strategies and

build the relationships necessary to get their ventures off of the ground.”

Tapping the resource- and research-rich environment at the University,

the 2009 program represents a microcosm of global innovation and investment

trends, especially in areas such as biotech, clean tech, medical devices,

Web 2.0 and consumer social networking business ideas. Leadership teams of

these organizations also reflect a cross disciplinary approach to business

ideation with many management teams comprised of business, science and

engineering students.

“I arrived at the Institute as an aspiring entrepreneur passionate

about an idea that I knew with refinement could be a highly successful

enterprise. Through rigorous course work, workshops and one-on-one

mentoring, the Zell Lurie Institute has helped us systematically develop

this idea into the winning business we are today,” stated Katie Miller,

MBA/MA 2010 and a member of the Roomations team which competed in the

Michigan Business Challenge.

Michigan Business Challenge

Unlike most business plan competitions which serve as a two-day “beauty

pageant,” the Michigan Business Challenge exposes students to a rigorous

business development “boot camp.” Student teams are run through the

entrepreneurial paces as part of this four month, multi-phased competition

that tests the viability and helps evolve student businesses from a rough

concept into a sound business plan.

The Michigan Business Challenge awarded a total of $36,500 in prize

money to the following recipients:

-Pryor-Hale award for best business to Husk, a clean tech startup that

converts agricultural waste into thin, high-grade insulation.

Runner-up award for best business to Audiallo which designs

biologically-inspired, audio-processing technology which targets the

hearing aid and high-end audio markets.

Erb award for sustainability to Algal Scientific which manufactures and

operates turn-key water treatment systems that combine wastewater

treatment with biofuel production using algal growth bioreactors and

proprietary processing technology.

Williamson award for cross-functional teams to Ikanos Power which

develops and manufactures flexible fuel electricity generation products

for use in military, trucking and distributed power markets.

Undergraduate award to Project Freestyle which designs, develops, and

sells online tools for managing team sports.

Best written plan to Innovet Technologies which develops products and

services to treat painful conditions ranging from minor fractures to

joint replacements for small animal veterinary needs.

Outstanding presentations to Caliente, the first national chain in

Poland serving Mexican fast food and Roomations, an online design and

construction consultation for do-it-yourself home improvement.

Dare to Dream Award Recipients:

The Dare to Dream grant program encourages teams to explore the

feasibility of business ideas or to move businesses closer to launch

through grant funding. A total of $23,500 was awarded to the following

student teams:

$100 Spike: tools to record the nervous system signals of invertebrates

Bazaar Bee: online marketplace that connects wedding product vendors in

India to Indians living in the U.S. and Canada

Bookwordation: online book rental service that provides business books

to business travelers

-BrainFrAim: creating a non-invasive method to align the head during

imaging and deep brain stimulation surgery

Caliente

CHOP The Community House of Peace (CHOP): “day care” service

that provides an active lifestyle and a venue for social interaction to

the population of elderly retirees of South Asian descent.

DialysEZ: access port design that allows patients greater freedom of

movement while reducing infections and eliminating damage to blood

vessels

Endocutter: endoscope attachment that incorporates a micro-motor at the

endoscope’s distal end allowing doctors to facilitate the removal

of blood clots

Esteem Recommender Systems: software prototype for custom-tailored and

highly accurate consumer product recommendations

Frontier Markets: a Software as a Service technology solution

Gift of Sound: low cost digital hearing aids for hearing impaired

individuals under the age of 19 from middle and lower incomes in India

Hyperion: efficient and affordable two passenger aircraft

Mphasis: software which will allow psychologists to quantitatively

analyze clinical sessions with patients in real time

Nonprofit Planning Solutions: ERP service for small/medium sized

non-profits

Orthoreach: low cost, effective custom fit Ankle foot Orthosis

Smart Endo Instrument: endoscopic instrument

Structured Microsystems: high performance three-dimensionally stacked

integrated circuits for manufacturers of small consumer electronics

devices

Urban Wind Solutions: vertical axis wind turbines (VAWT) that provide

clean energy, convenient advertising space, and publicity to outdoor

advertising agencies

VirSn: device to improve patient outcomes by reducing perivalvular

Leakage

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