Entrepreneurship Course 2016 – Biomedical Commercialization

Entrepreneur BioMedicine Univeristy of MichiganAre you thinking about a career in healthcare consulting, investment banking, private equity or in-house business development? Or do you wish to join a healthcare product development and commercialization team in an established or an early-stage company?

If you are considering these options, you might find this interdisciplinary course from ZLI (ES 720) a worthwhile career booster or simply interesting. The class was developed at Johns Hopkins and is taught Winter A on Mondays, 6:30-9:30p.m.

Registration is open to MBA students and to graduate students in medicine, bioengineering, pharmacy, life sciences, law, public health, and health management.

The course is taught by ZLI Associate Director and Clinical Assistant Professor Eric Gordon. Professor Gordon’s areas of interest are entrepreneurship and technology commercialization, the biomedical industry (pharmaceuticals, devices and biotechnology), venture capital, private equity, mergers and acquisitions, corporate governance, and digital and mobile marketing. He also is a professor at the School of Law. He has served as an adviser or co-founder to numerous companies.

For more information email: rmegordo@umich.edu (Erik Gordon)

University of Michigan’s Ross School of Business and the Zell Lurie Institute Named a Top Graduate Program in Entrepreneurship

Entrepreneur Ranking ZLI top four business schoolThe Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the Stephen M. Ross School of Business has been nationally recognized for its visionary leadership, continuing innovation and high standard of excellence in entrepreneurship education. The Princeton Review and Entrepreneur Magazine named the Institute the No. 4 Graduate Program in Entrepreneurship in the U.S., in a joint ranking of the top 25 graduate entrepreneurship programs for 2016. This marks the sixth consecutive year the Institute has placed among the top five graduate programs in the nation. In addition, the University of Michigan was named the No. 7 program for undergraduate entrepreneurship education.

“As interest in entrepreneurship grows at a rapid pace, we at Michigan Ross are here to help students learn and determine if entrepreneurship is the right choice for them,” said Alison Davis-Blake, dean of the University of Michigan’s Ross School of Business. “The Zell Lurie Institute provides a number of world-class courses, programs, internships, and competitions that are a critical part of that process. Our focus on action-based learning, and the opportunity to manage real funds, develop real projects and interact with mentors who are successful entrepreneurs and venture capitalists themselves is what sets Ross apart.”

The Zell Lurie Institute plays a formative role in the University’s thriving ecosystem of entrepreneurship education through its ongoing development of robust programming, comprehensive coursework, experiential learning and professional mentoring at Michigan Ross. The Institute’s cross-campus collaboration with the College of Engineering’s Center for Entrepreneurship has created valuable synergies and supported the launch and operation of the jointly managed TechArb student start-up business incubator and the new Desai Family Accelerator. Working with strategic partners at the University and in the business community, the Institute also has developed an impressive platform of annual symposia spanning entrepreneurial business, venture capital and private-equity investment that engages students with leading alumni, serial entrepreneurs, business practitioners and investors. In July 2015, the Zell Lurie Institute received a pledge of $60 million from the Zell Family Foundation, which provides additional endowed support for the continued delivery and development of entrepreneurship programs for students and alumni.

“What sets us apart year after year is our commitment to pushing the boundaries of entrepreneurship education and delivering the action-based learning experiences that prepare our students for career success, whether they are launching a start-up venture, driving innovation in an established company or pursuing a pathway in the venture-investment industry,” said Stewart Thornhill, executive director of the Zell Lurie Institute.

Since its inception in 1999, Zell Lurie has fostered the growth and enrichment of entrepreneurship education at Ross and across the University campus by awarding nearly $4.4 million in funding and engaging more than 5,500 students through its entrepreneurial program portfolio, which includes four student-led venture funds, Dare to Dream grants for student start-ups and the Michigan Business Challenge. These venues allow students to test and validate business ideas, procure funding at strategic stages of business development, connect and form management teams with their peers and receive coaching from seasoned entrepreneurs and prospective investors.

Michigan Ross has been widely recognized as a national leader in entrepreneurial business education. In addition to The Princeton Review and Entrepreneur Magazine ranking, the school earlier this year placed among the top 10 in a ranking of best business schools for entrepreneurship education by US News & World Report. To learn more about Ross and the Zell Lurie Institute, please visit michiganross.umich.edu/.

University of Michigan Entrepreneurs Win Top Prizes at Accelerate Michigan 2015

This week, the Greater Detroit area hosted the Accelerate Michigan Innovation Competition, an international business competition designed to highlight Michigan as a robust and vibrant venue for innovation. The competition showcased the best and brightest businesses to the investment community in order to foster engagement and economic growth.AMIC 2015 University of Michigan Entrepreneur Winners

In addition to the traditional business competition, Accelerate Michigan hosted a business idea contest for student-led teams from throughout the state of Michigan. Student teams were judged on content, creativity structure, and delivery.

CARt, a University of Michigan team, received first place for 2015. The team created a platform to provide reliable transportation for low-income individuals to get to and from supermarkets for healthy food options. CARt was awarded $15,000 in prizes to help launch their venture.

The Broke App, an application developed by a team of UMSI students, took home fourth place for their innovative business model. Their app allows banks to reach and teach college students how to build wealth for the future based on their current spending.

This recognition emphasizes how University of Michigan students are bringing fresh ideas and new energy to the growing entrepreneurial ecosystem. For more information on the Accelerate Michigan competition please visit: http://acceleratemichigan.org/.

Entrepreneur Samantha Kelman on Sweat Inc. with Jillian Michaels

One week after Samantha Kelman, BBA ’10, opened Cycle & Row, Spike TV announced a new reality show featuring fitness entrepreneurs with innovative business models. With the unlikely combination of rowing and cycling, the casting directors were intrigued by Sam.

In the new program Sweat Inc., hosted by Jillian Michaels, twenty-seven aspiring fitness entrepreneurs compete to prove they’ve developed the most groundbreaking and effective exercise program. Sam first appears on the October 27 episode where her low impact workout will be put to the test by guest judge Kit Hoover.

In the end, only one entrepreneur will win $100,000, a feature in Women’s Health Magazine, and the opportunity to launch their fitness empire with Retro Fitness. Sweat Inc. airs Tuesday nights at 10 p.m. on Spike TV.

Posted in News. Tags: . Leave a Comment »

#ZellChat Recap – Michigan Business Challenge

Yesterday, we hosted a Twitter chat on the Michigan Business Challenge – a multi-round business plan competition open to all U-M Ann Arbor entrepreneurs. We answered your questions about competition deliverables and previous winners, as well as the resources provided by the Zell Lurie Institute that help teams excel in the challenge.

For those unable to join us, catch up on the conversation below. You can also visit our website for contact information or to sign up for office hours to learn more about entrepreneurial activities at the University of Michigan.

If you aren’t already, follow us on Twitter @ZellLurie and be on the lookout for details on our next #ZellChat in February.

Q1: What is the Michigan Business Challenge and what are the requirements to participate? #ZellChat

A1: The Michigan Business Challenge is a campus-wide, multi-round business plan competition. #ZellChat #UMMBC16

A1: #UMMBC16 is open to all current U-M undergrad and grad students interested in exploring a business idea. #ZellChat

A1: Proposed businesses may be products or services, for-profit or non-profit, but should have high growth potential. #ZellChat

Q2: Does ZLI help the teams prepare for the different rounds throughout the process? #ZellChat

A2: ZLI facilitates #startup workshops to prepare students to pitch their idea and submit #UMMBC16 deliverables. #ZellChat

A2: #Startup workshop topics include: How to Ideate, The Pitch, Sizing Your Market and Assessing Financial Feasibility. #ZellChat

A2: ZLI staff and faculty also hold office hours for teams to practice their pitches and discuss their businesses. #ZellChat

Q3: What makes for a winning business plan/pitch? #ZellChat

A3: The great business plans and pitches we’ve seen address a significant problem and are scalable. #ZellChat

A3: Judges also look for a well-rounded, interdisciplinary team. #ZellChat

A3: Multidisciplinary teams are encouraged, but not required. If you are interested in finding team members, contact us! #ZellChat #UMMBC16

Q4: What are things you’d recommend us addressing in our #UMMBC16 pitch? #ZellChat

A4: Emphasize what sets your idea apart from the others. Judges and investors hear a lot of pitches, so get creative! #ZellChat #UMMBC16

A4: In the first round, they hear about 80 pitches. #ZellChat #UMMBC16

A4: You have 3 mins to convince judges your idea solves a real problem, has market potential and your team can do it. #ZellChat #UMMBC16

Q5: What are some of the teams/businesses that have won the Michigan Business Challenge in previous years? #ZellChat #UMMBC16

A5: .@getcompanion, a peer-to-peer safety app that allows friends and family to monitor you while walking late at night. #ZellChat #UMMBC16

A5: .@b4pangaea, a non-profit that collects unused medical supplies and ships them to targeted areas in emerging nations. #ZellChat #UMMBC16

A5: .@Movellus, a company specializing in the design of all-digital timing components for the semiconductor market. #ZellChat #UMMBC16

A5: For a full list of previous winners, visit: https://t.co/iH2DqnOl2e #ZellChat #UMMBC16

Q6: What do we receive if our team wins the Michigan Business Challenge? #ZellChat #UMMBC16

A6: The Michigan Business Challenge top prize is $25,000. #ZellChat #UMMBC16

A6: Teams win awards as they progress through the different phases, including best marketing plan, best presentation, etc. #ZellChat #UMMBC16

A6: Teams receive feedback from the judges on how to continue building their business and attracting investors. #ZellChat #UMMBC16

A6: Teams also meet regularly with ZLI staff and faculty as they go from ideation to launch. #ZellChat #UMMBC16

Q7: What are some of the important dates to know if we’re participating in the Michigan Business Challenge? #ZellChat #UMMBC16

A7: We’re hosting an information session on the Michigan Business Challenge on Nov. 4 from 5-5:30 p.m. in R0240. #ZellChat #UMMBC16

A7: Intent to compete forms for #UMMBC16 must be submitted by Nov. 16. Download one here: https://t.co/1LP6HgGSf9 #ZellChat

A7: #UMMBC16 officially kicks off Dec. 4, when student teams will give their first 3 min. pitch to a panel of judges. #ZellChat

A7: The final round of #UMMBC16 is Feb 19. For more information and important dates, check out our website: https://t.co/bGZ9d4h0GD

Q8: What are some other programs for #entrepreneurs at ZLI? #ZellChat

A8: Student teams can participate in Dare to Dream and startup workshops to move their ideas forward and receive grant funding. #ZellChat

A8: Students interested in doing a summer internship at a startup or VC firm can apply for a Marcel Gani internship. #ZellChat

A8: ZLI hosts events for #entrepreneurs throughout the year, including Entrepalooza and the Michigan Growth Capital Symposium. #ZellChat

Ross School of Business Among Top 25 Best Business Schools for Entrepreneurs

There’s no denying that business schools serve as a breeding ground for innovation and the jumping-off point for some of tomorrow’s brightest entrepreneurs.

Each year, PitchBook tracks MBA graduates from the top colleges and universities for five years after graduation, creating a list of the 25 best business schools for entrepreneurs. This year, University of Michigan’s Ross School of Business placed at number 14 – with 78 entrepreneurs, 70 companies founded and $414 million raised in capital. ZLI is proud to be one of the resources so many entrepreneurs use to succeed at every stage of their entrepreneurial journey.

Business Insider recaps the list of the top 25 b-schools for entrepreneurs here.

Middle Market Industry Trade Organization Launches Image-Building and Education Campaign on Capitol Hill

The private equity industry has been looked upon unfavorable in Washington, in the media and in the public eye for a number of years. This situation came to a head during Mitt Romney’s candidacy for the Republican nomination for president in 2008 and galvanized the industry into action.

Now, an industry trade organization called the Association for Corporate Growth is launching an image-building and education campaign on Capitol Hill to promote the middle market business sector and the private equity industry that fuels its growth. Three members of ACG spoke at the 2015 Global Private Equity conference on October 9 about their public-policy strategy and what they hope to accomplish. The event was sponsored by the Zell Lurie Institute and the Center for Venture Capital and Private Equity Finance at Michigan Ross.

“We are trying to tell the story that didn’t get told,” said Gretchen Perkins, a partner at Detroit-based private equity firm, Huron Capital Partners. “In Washington, we need to draw a full picture of the circle of life of the cash. Pension funds invest in us [private equity] to manage their money, to buy companies, to grow them and to sell them at a very strong profit. A significant amount of those profits go back to the pension funds, thus funding retirements and providing a safe and secure retirement for pensioners. That story is not talked about enough, if at all.”

ACG has defined three primary pillars of its public-policy strategy: legislative, regulatory and grassroots. “It comes down to education and advocacy,” explained Jason Byrd, managing director of Charter Capital Partners. “We are trying to build support for our industry and persuade people that private equity works for the public good.” ACG’s strategic efforts include building a caucus to lobby legislators and their staff, launching a media communication campaign and hosting a public-policy summit. The trade association also created a Private Equity Regulatory Task Force to meet with legislators and regulators in Washington and to develop best practices for the middle market private equity industry.

Addressing current or proposed legislative policies that place excessive restrictions on middle market business and private equity investors is vitally important, said Pam Hendrickson, chief operating officer of the Riverside Company, a Cleveland-based global private equity firm. She outlined ACG’s key legislative objectives:

  • Preserve the interest deductibility of corporate debt.
  • Reduce onerous compliance and regulatory burdens for middle market PE.
  • Preserve the current “joint employer” legal status for middle market business.
  • Maintain capital gains treatment for carried interest.

“Everyone loves small businesses,” Byrd concluded. “Big businesses certainly can take care of themselves on Capitol Hill, and they do through their own advocacy. But companies in the middle market don’t have a voice. Our focus is to provide them with a voice to all different governmental entities.”


Get every new post delivered to your Inbox.

Join 530 other followers