ANN ARBOR ? A $25,000 grand prize will be awarded on June 7 by the Great Lakes Entrepreneur’s Quest for the top Emerging Company in a field of 11 teams ? a $5,000 top prize is up for grabs among 19 New Business Idea teams.
The keynote speaker at the business-plan contest awards ceremony will John Barfield, founder and Chairman Emeritus of The Bartech Group, a Livonia professional staffing services and outsourcing firms, specializing in the placement of engineering and information technology professionals.
The ceremony begins at 6 pm in the Anderson Room of the Michigan Union at the University of Michigan. The event is sponsored by the Samuel Zell and Robert H. Lurie Institute at the University of Michigan Ross school of Business, a long time sponsor that has returned to back the business-plan writing contest.
?The GLEQ?s program cultivates enterprising entrepreneurs and helps keep them in Michigan by networking them to state resources…we?re delighted to sponsor the Awards event here at the University,? said
Tom Kinnear, Executive Director of Zell Lurie.
First place teams from the Emerging Company and New Business Idea paths will be recognized with cash awards of $25,000 and $5,000 respectively. In addition, each winning team will receive hours of valuable professional services.
Runner-up teams in each category will be recognized with cash awards of $5,000 and $1,000 respectively and commensurate in-kind services. New this year are two Innovation Awards sponsored and presented by NextEnergy and Automation Alley. The two new awards will be investments of up to $12,500 each in companies that are focused on alternative energy technology and advanced automotive manufacturing.
The top teams competing for the Grand Prize will pitch their plan to a panel of investment judges headed by Jack Ahrens, Partner at TGAP Ventures. Presentation scores will be added to the business plan scores to determine the overall winner. Past grand prize winners include SpiritShop, Adaptive Materials, Sensigen, TJ Pulse and Velcura. Five of Michigan?s 50 Companies to Watch are GLEQ winners.
All teams participating in the business plan competition receive written feedback from a minimum of three venture industry experts. Teams must be present at the event to win and to receive their plan feedback.
The networking reception, with appetizers and cash bar, begins at 6 pm. All are invited to attend. The event is free, however, pre-registration is required. To register online, click on GLEQ.Org
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