ANN ARBOR – The Samuel Zell &

Robert H. Lurie Institute for Entrepreneurial Studies at the University of

Michigan Ross School of Business announced Thursday the winners of its 2009-2010 business plan competitions – Michigan Business Challenge awards and Eugene Applebaum Dare to Dream Grants. Award winners and grant recipients receive funding totaling nearly $100,000 for excellence in new business plans and concepts.

Award-winner Ambiq Micro plans to sell low-power-consuming

microprocessors that have the potential to substantially extend the battery

life of wireless devices. The technology could be used in smart credit

cards, computers, sensors that control temperature or detect motion in

smart homes and buildings, and a variety of medical and mobile devices.

“Participating in the Michigan Business Challenge has been instrumental

in helping me achieve both my entrepreneurial and broader business goals,”

said Philip O’Niel, MBA 2010 and member of the Ambiq Micro team (formerly

Cubiq). “Through the many courses, programs, and individual mentoring

offered by the Zell Lurie Institute, my team and I have been able to take

our entrepreneurial passions and transform them into a winning business

idea. The hands-on experience delivered by the Zell Lurie Institute was one

of the most important factors in my decision to attend Ross.”

Michigan Business Challenge

The four-month, multi-round Michigan Business Challenge helps students

to transform their business idea from a rough concept into a sound business

plan. Supported by training and shaped by invaluable feedback from judges

at each phase, students are exposed to a rigorous business development

“boot camp” that reinforces the notion that a solid business foundation is

necessary to commercialize a great idea.

A record 85 teams applied to participate in this year’s Michigan

Business Challenge. The competition awarded a total of $59,500 in prize

money to the following recipients:

Ambiq Micro, (formerly Cubiq) a fabless semiconductor company that has

developed the world’s most energy-efficient microcontroller, received

the Pryor-Hale award for best business, Williamson award for Outstanding

Business and Engineering Team and one of two Outstanding Presentation

Awards

Enertia, an energy scavenging technology that supplies life-cycle power

for autonomous, self-sustaining wireless sensors, received the Runner-up

award for Best Business and the second Outstanding Presentation Award

Green Silane, which produces silane gas in a flexible, low-cost and

environmentally benign manner, won the Erb Award for Sustainability

Hippo Water International, a U.S.-based NGO that aims to reduce the

physical and time burdens of water collection by manufacturing and

distributing an innovative water transportation tool, was awarded the

Social Impact Award

Magnetic Ventures, maker of a low-cost, long lasting

magnetically-assisted artificial joint, took home the Undergraduate

Award

North Coast Fisheries, an aquaculture firm that produces antibiotic-,

growth hormone- and mercury-free fish for stocking and consumption

received the prize for Best Written Business Plan

Milo, a premium online beauty e-commerce site for black women seeking

high-end hair care products, received a $1000 prize for advancing to the

final round

Dare to Dream Award Recipients

The Dare to Dream grant program encourages teams to evaluate and

accelerate the development of their unique business ideas. Designed to

stimulate students’ entrepreneurial spirit, a total of $39,000 in grant

funding was awarded to student teams. Integration grants of up to $10,000

were awarded to:

Ambiq Micro

Bazaar Bee: online marketplace connecting North American-based Asian

Indians to wedding vendors in India

Shepherd Intelligent Systems: provider of real-time vehicle location

information to passengers and managers of public transit

Assessment grants, which help students establish the feasibility of the

business in order to gauge whether or not the business is a sustainable

venture, were awarded to the following teams:

A2D Technologies: analog to digital converter circuit design

AME Outdoors: reservation and service call center for the fishing

Industry

Carbon Perks: online rewards system linking consumers, utilities and

Retailers

Food Waste Energy: maker of biodigesters for the restaurant industry to

capture gas produced from organic waste decomposition

Heart Graffiti: maker of commemorative jewelry for female college

Students

InnoMotus: products to verify sterilization and safety of clinical tools

June Energy: maker of portable solar energy products for electricity and

lighting in rural Africa and Asia

SanoBio Therapeutics: low-cost topical treatment for diabetic ulcers

Fifteen teams were also awarded Business Design grants of $500,

designed for students who have a new technology, an idea for a product or

service, or have identified a market need and could benefit from resources

to identify if a business can be created around it.

These programs, along with coursework, faculty mentoring and

professional networking, provide students with the opportunity to transform

their entrepreneurial passions into viable career options and ventures.

The 2010 recipients exemplify the cross-disciplinary approach to

business ideation that is fostered at the Institute. Several of the

recipients consist of management teams that span business, science and

engineering fields, and many of the ideas leveraged leading research and

resources found at the University to drive the innovation process. Business

concepts range from clean tech, life sciences, and information technology,

to aquaculture and e-commerce.

“The Institute’s portfolio of programs, like the Michigan Business

Challenge and Dare to Dream, have been critical in delivering the

action-based entrepreneurial education that sets the Zell Lurie Institute

apart,” said Tom Kinnear, Executive Director of the Samuel Zell & Robert H.

Lurie Institute for Entrepreneurial Studies. “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.”

For more information on Dare to Dream and Michigan Business Challenge

award winners, click on Zli.Bus.Umich.Edu

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