​​CMU New Venture Competition:

 

Over $ 75K Aw​arded, 7 Grueling Months, 21 teams, 2 universities

 

Led by the CMU College of Business Administration's Isabella Bank Institute for Entrepreneurship, 21 teams competed for $75,000 in venture capital funds March 28th.

 

The New Venture Competition extends over seven months, includes twelve workshops with experts who assist students in building their business model using the Business Model Canvas.  The grand finale is a three round competition and a speed pitch competition in front of expert judges who select the teams earning capital for their business development.

 

Teams represented students in eleven different majors and two universities (CMU and MTU).   

More than fifty judges comprised of CMU alumni entrepreneurs, business and community leaders, angel investors and venture capital experts supported the competition.

 

In addition to the student rounds, the competition included a spirited lunch panel discussion on early stage funding included Ken Rogers, executive director of Automation Alley; Paula Sorrell, vice-president of entrepreneurship, innovation and venture capital for the Michigan Economic Development Corp.; Diane Durance, president of MiQuest; Ken Kousky, president and CEO of Blue Water Angels; Cia McCaffrey, former vice president of Foresee Results; and Erin O'Brien, president and CEO of CMURC.

 

The Results:

 

VALUEVentureTeam Name
$30,000 Best OverallUn-Corked
$10,000 Best SocialSinfonia Marching Exposition, L3C
$10,000 Best Technology
Garden Mobile
$10,000 Highest Growth PotentialBeergo
$10,000 Most Impact on MichiganSecond Cut Arrow
$5,000 Best LifestyleHomecrest Coffee Roasters
CMURC ProgramSpirit of Entrepreneurship (Tie)Divinare
CMURC ProgramSpirit of Entrepreneurship (Tie)Gone Beachin'
$1,000 Best PitchGarden Mobile
$500 1st Runner Up PitchJust for Students
$250 2nd Runner Up PitchGone Beachin'


The CMU New Venture Competition received recognition in 2013 as the "Best Educational Program of the Year" from Automation Alley. This recognition acknowledges the combination of CMU's entrepreneurship curriculum with experiential opportunities maximizing students' potential to launch a business.

 

A total of 15 teams from past New Venture Competitions are still in business.


 

SEE YOU FOR NVC 2015!​ 

 




 

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