The Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the University of Michigan Ross School of Business yesterday announced the recipients of the Fall 2009 Eugene Applebaum Dare to Dream Grant Program. In the program, students apply for funding to advance their innovative, high-potential business concepts toward launch. Grant recipients were awarded funding and resources totaling $50,000 based on business concepts and plans submitted to panels of judges made up of faculty and members of the entrepreneurial and venture capital communities. In addition to the financial awards, grant recipients will receive counsel from leading business experts on business plan development and funding strategies.
In a press release, Tom Kinnear said, "The innovation and industries represented by this year's Dare to Dream student teams reflect the unique, research-rich environment the University offers to aspiring entrepreneurs." Kinnear is executive director of the institute. "Participating in the competition is a fantastic learning experience for our students. They are forced to evaluate market potential for their ideas, develop a business case and conduct due diligence."
The following student teams received grants in October 2009:
Integration Grants (up to $10,000 for each team)
* Hyperion ($5,000) - designer and manufacturer of light sport aircrafts
* MyBandStock ($5,000) - online fundraising platform for performing artists
* Natural Aquaculture ($5,000) - antibiotic-free, hormone-free native fishery
* Structured Microsystems ($10,000) - offers three dimensionally stacked integrated circuits in a single package
Assessment Grants ($1,500 each)
* Ayah - alternative method to test the "human-ness" of web site visitors
* Backyard Brains - designs and markets affordable neuroscience kits for educational purposes
* Charter Jet Connect - online marketplace for booking charter aircraft
* City Connect - process solution for location-based government services
* Digital Receipts - digital capture and storage technology for receipts
* Innovascular - device to localize and control severe bleeding
* IRIZ Technologies - specialized service to screen the effect of compounds on the motility of target cancer cell lines
* Joe - point of sale system for coffee shops
* Lodestone Capital - bridges the divide between energy services companies and property owners reluctant to invest in energy efficient projects
* Nalu Solar Tools - web-based software that offers operational support for solar PV contractors
* Securilink - personal safety device that utilizes cell phone technology
* Urban Food Gardener - online information and products for urban gardening
Business Design Grants ($500 each)
* A2D Technologies - analog to digital converter circuit design
* Capture Fitness - eco-gym that generates electricity and transfers it directly back into the electrical grid
* Carbon Growth - system that uses carbon dioxide to promote crop growth
* DesignFloor - Product Lifecycle Management software system for small and medium sized manufacturing companies
* Exercise Eco Energy - stationary bicycle that is an electrical generator
* Grub Grabber - Web application that alerts patrons to daily specials from local restaurants
* Heart Graffiti - silver commemorative jewelry for female college students
* LEAD Insurance Agency - insurance for sustainable commercial buildings
* Navitus Global - designing a low-cost, energy efficient refrigerator for low-income and temporary emergency housing
* "No-Worries" Debit Card - debit card for international travelers
* The Pool - speed dating through interactive gaming
* RIPE Group - Biomimicry-based non-slip application for various applications
* Samaj - Indian senior-living facility in United States
* Unnamed product - hand-held device that combines technologies targeted at youth in China
In related news, U-M has partnered with DTE Energy to launch the second annual Clean Energy Prize competition - conceived to help move clean energy technologies from the laboratory to commercial production - DTE Energy and the University of Michigan have broadened the scope of the competition.
For year two, the rules have been changed to encourage participation from more Michigan colleges and universities. This year, teams are not required to include a U-M student. Any team with student representation from a Michigan college or university is eligible. The teams still are being challenged to develop the best business plan for bringing a new clean energy technology to market. And again, the teams with winning ideas will share $100,000 in prize money, to be awarded in the spring of 2010.
Applications and details of the competition are available on the Clean Energy Prize Web site: www.dtecleanenergyprize.com.
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