Category Archives: Competitions and Challenges

Bob Mark Business Model Competition Applications Now Open at Michigan Tech

The Innovation Center for Entrepreneurship will host the 2018 Bob Mark Business Model Competition from 7 to 9 p.m. Wednesday, Dec. 5 in the Opie Library. Students can apply to compete here.

The 2018 Bob Mark competition includes an idea pitch and a business model description. This event takes place later in the year so that contestants will have the opportunity to develop their business model through participation in Husky Innovate workshops. Using Lean Launchpad methods and the Business Model Canvas, students will share insights from customer interviews.

Prizes will be awarded to the most scalable and actionable business model pitches. Using prize money, students have a chance to take their entrepreneurial idea to the next stage of development further preparing them for additional opportunities such as competing at the New Venture Competition held in April at Central Michigan University.

President Koubek will serve as a distinguished judge alongside other entrepreneurially minded faculty, staff and community members.

Prizes for the Bob Mark Business Model Competition include:

  • First Prize – $2,000 + $100 services from MTEC SmartZone
  • Second Prize – $1,000 + $100 services from MTEC SmartZone
  • Third Prize – $500 + $100 services from MTEC SmartZone
  • Honorable Mention (2 prizes) – $250 each
  • Audience Favorite – $250
  • MTEC SmartZone prize – $1000

This event is a tribute to the late Bob Mark, professor of practice in the School of Business and Economics. Mark founded 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 and that continues to live on in students, faculty, and staff.

Students who participated in the Idea Pitch Competition in October are strongly encouraged to apply to compete in the Bob Mark Business Model Competition.

Students should apply by submitting this form no later than midnight on Wednesday, Nov. 21 (before Thanksgiving break). The top 15 applicants will be selected to participate in the Bob Mark Business Model Competition. Students who upload a business model canvas to their application will be given priority consideration. Student guidelines, scoring criteria and a blank Business Model Canvas can be found at mtu.edu/honors/ice/husky-innovate.

The 2018 Bob Mark Business Model Competition is part of Husky Innovate, a series of workshops and events that build on each other with the intention of guiding students through key phases of innovation or business development while emphasizing evidence-based strategies for success. Bob Mark Business Model Competition is hosted by the Innovation Center for Entrepreneurship, which is a collaboration between the Pavlis Honors College, the School of Business and Economics and the Vice President for Research Office.

By Innovation Center for Entrepreneurship.


Michigan Tech Business Model Canvas Bootcamp

The Innovation Center for Entrepreneurship will host Business Model Canvas Bootcamp, a two-part workshop from 7 to 9 p.m. Nov. 14 and 28 in Rekhi 214.

Using the Business Model Canvas, students will work with members of the Michigan Tech I-Corps Site Program teaching team to develop a business model for their technology or idea.

The Business Model Canvas is a tool developed by Alexander Osterwalder and Yves Pigneur. It emphasizes the relationships of the nine components of a business model:

  1. Customer Segments
  2. Value Propositions
  3. Channels
  4. Customer Relationships
  5. Revenue Streams
  6. Key Resources
  7. Key Activities
  8. Key Partnerships
  9. Cost Structure.

Check out this short video for a brief overview of the Business Model Canvas. The idea is that business plans are static while a successful business model needs to be dynamic. A successful business venture requires a tool that allows one to quickly assess the impact of changes and adjust accordingly.

The I-Corps teaching team will guide students through the process of developing their unique business model. Students will map out their canvas with a specific focus on the value proposition and the customer segments after developing a hypothesis around the nine components, focusing on the customer segment and its “pain points.”

From there they will then test their hypothesis through customer interviews or customer discovery. “Does your solution create value for your customer segment?” Based on the customer discovery process, they will understand if they need to adjust their value proposition and pivot.

Business Model Bootcamp is part of Husky Innovate, a series of workshops and events that build on each other with the intention of guiding students through key phases of innovation or business development to help them prepare for future competitions, as well as future intrapreneurial and/or entrepreneurial business ventures. Registration for this workshop is required.

Students who participated in the Idea Pitch Competition and/or plan to compete in the upcoming Bob Mark Business Model Competition, are strongly encouraged to register for Business Model Canvas Bootcamp.

There is a cap of 25 contestants for the Bob Mark Business Model Competition. Priority will be given to those who have completed the Business Model Boot Camp. Husky Innovate is hosted by the Innovation Center for Entrepreneurship, a collaboration between the School of Business and Economics, Pavlis Honors College and the Vice President for Research Office.

by Innovation Center for Entrepreneurship



Introducing Michigan Tech Husky Innovate Workshops and Pitch Competitions

The Innovation Center for Entrepreneurship at Michigan Tech, a collaboration between the Pavlis Honors College and the School of Business and Economics, announces a new series of workshops and events for students called Husky Innovate. Husky Innovate is a succession of workshops and competitions guiding students through key phases of innovation and business development, while emphasizing evidence-based strategies for success.

Students are encouraged to participate in any/all events of their choosing, whether they’re interested in learning more about entrepreneurship and innovation to distinguish their résumé, or they want to start their own business and build knowledge, expertise and confidence through participation.

Students who challenge themselves to pitch their idea at a national, state or regional competition will find the Husky Innovate track provides a solid foundation for achieving their goals. The workshops and events emphasize experiential learning and provide the opportunity to get valuable feedback from peers and mentors.

The Idea Pitch Competition will be held from 7 to 9 p.m. Wednesday, Oct. 17 in M&M U113. During the two-minute pitch competition, students will share their favorite innovative and disruptive idea in an interactive community setting. Cash prizes will be awarded. Students should registerearly; participation is limited to the first 30 registrants.

See more events and upcoming workshops at mtu.edu/husky-innovate.

By Innovation Center for Entrepreneurship.