ANN ARBOR, Mich., Feb. 22, 2011 /PRNewswire-USNewswire/ — The
Samuel Zell & Robert H. Lurie Institute for Entrepreneurial
Studies at the University of Michigan Ross School of Business today
announced winners of its 2010-2011 Michigan Business Challenge
competition awards and Eugene Applebaum Dare to Dream Grants for
U-M student startups. Award winners and grant recipients
received funding totaling over $106,000 for excellence in new
business plans and concepts.
Award-winner MEMStim plans to sell MEMS electrode leads to
medical device companies for integration into their targeted nerve
stimulation devices. Ultimately, the company is committed to
improving the standard of patient care in neurostimulation. The two
MBA students and Doctorate student that form the company team will
use the award money to quantify regulatory risks and further
prototype development.
“The Michigan Business Challenge Best Business Award is an
incredible honor because of the caliber of the judges and other
businesses in the competition,” said Angelique Johnson, 2011 EECS
M.S./Ph.D. and member of the MEMStim team. “We are a strong team
and have learned new entrepreneurial skills throughout the
competition that build upon our diverse past experiences and will
help us bring our technology to market.”
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.
Over 50 teams from colleges and schools around campus applied to
participate in this year’s Michigan Business Challenge. The
competition awarded a total of $54,300 in prize money to the
following reci
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