Tag Archives: business plan

Event: Bob Mark Elevator Pitch Competition

(click for full size)

Where can you win $1,000 for just 90 seconds of your time? At the 2012 Bob Mark Elevator Pitch Competition! Join us on Wednesday, November 7 in Fisher 135 at 6pm for the fun!

In the competition, contestants have a limited time (like on an elevator ride) to sell a concept to someone who doesn’t have previous knowledge about their business. A 90-second time limit is placed on the competitors, who will also be competing for second ($500), third ($250), and audience-favorite ($200) prizes. Please join students, faculty, staff, and community members for this year’s event. You won’t be disappointed!

This event is a tribute to the late Bob Mark, Professor of Practice within the School of Business and Economics. Mark started and ran the first four years of the Elevator Pitch Competition and brought the Business Plan Competition to Michigan Tech. The Bob Mark Elevator Pitch Competition and other efforts  support his entrepreneurial spirit that continues to live on in students, faculty, and staff.

Get Involved

If you are interested in participating in this event, review the EPC Information and Rules or download the 2012 Bob Mark Elevator Pitch Competition Judge’s Score Sheet. To participate, attend an information session (the next one is scheduled for Tuesday, October 30th at 6pm in Fisher 139) and contact Travis: twbeauli@mtu.edu with any questions.

Advice from Bob Mark

  • Do not say “we have no competition.”
  • If you are stating guessed numbers, try using 3, 7, or 9 to make the numbers sound more realistic.
  • Memorize your first and last statements, let everything in the middle flow naturally.
  • Be confident in everything you say and avoid terms such as “maybe.”
  • There is an audience favorite prize so invite all of your friends to vote for you!

This event is sponsored by the Michigan Tech School of Business and Economics and the Michigan Tech Smart Zone.


2012 New Venture Competition

Have a business idea? Have new technology idea? No idea at all, but like the idea of starting a business? This is for you.

Michigan Technological University and Central Michigan University have partnered to create the New Venture Competition – one of the country’s top business plan competitions. First place winners will take home $30,000 to be used toward launching and growing your business. The cash is going to someone – why not YOU?

Did we mention that second and third place will win, too? Yup! $10,000 and $5,000.

Michigan Tech’s Entrepreneurs and Inventors Club is leading the kickoff on Monday, September 19 in 139 Fisher Hall – free pizza and everything you need to know. Stay tuned for details and important dates on the School of Business and Economics website. This epic event starts at 6pm.

The only question is: who’s going to win $30,000? Call Jonathan Leinonen, Program Director at MTEC SmartZone – 487-7004. He has all the information you need to know to get started in the New Venture  Competition.


What’s the (Business) Plan?

Photos courtesy of Kayleigh’s Photography. Story originally posted in Tech Today. Written by Dennis Walikainen, senior editor, university marketing and communications.

Students participated in the second annual Business Plan Competition Tuesday night, and great ideas were flowing in Fisher 139.

Sponsored by the Institute for Entrepreneurship and Innovation and the School of Business and Economics, the competition featured future businessmen and women promoting their ideas in front of a panel of judges, who had previously reviewed their written plans.

The five-minute pitches covered a broad range of business ideas, and the winning plan was Books With Purpose by Jodhbir Singh, master’s student in EE, and Aman Bamra, bachelor’s student in CS.

“Books With Purpose would be India’s first nonprofit online bookstore,” Singh explained. “Thirty-five percent of India’s population is illiterate, and we would help address this problem by donating one book to under-supported schools for every five we sell.”

Singh and Bamra would approach India’s middle and upper classes to support their mission and their business, especially targeting rural areas, where illiteracy is more prevalent.

They took home $1,500 in cash and $2,700 worth of local consulting services: logo, accounting and legal services for their winnings. Singh planned on returning to India after graduation to pursue the business.

Two Bows, a company founded by Jessica Tompkins, a junior majoring in management, took second place in the competition and was familiar to the crowd. She won the Elevator Pitch Competition last fall with her business, which creates hunting apparel for women that could also be worn elsewhere.

Targeting “outdoorsy females, ages 12 to 50, in the northern states,” Tompkins has already started producing demos of her clothing to further pitch her idea, including the blouse she was wearing.

“We would eventually like to expand our online e-commerce sales and even donate proceeds to families of breast cancer patients and the Dream Hunt Program for terminally ill children,” she said. Second place garnered her $500, which she said she would reinvest in the company.

Third place and $250 went to Collin Stoner and his company, Selene, which will manufacture electric motor drivers. He has already been working with a company called Medical Minds to promote his device, which could be used to move the beds in CAT scan machines, for example.

“I’ve spent 400 engineering hours on making the prototype,” Stoner said. “And each one would have its own, unique computer chip, making duplication by competitors difficult.”

Other businesses pitched to the judges were retirement planning for lower income and middle-class people who might have fallen on hard times; cloud computing with improved information gathering; and a social network site for environmentally conscious people and organizations.

Bob Mark, professor of practice in the School of Business and Economics, who emceed the event, doled out the cash to the students and announced that there are plans for a major increase in funding next year, in cooperation with Central Michigan University. Mark sees the beginning of a mutually beneficial relationship with Central, with expanded entrepreneurial opportunities and other academic relationships.