Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies

2018Michigan Business Challenge

Intent to Compete form
List all team members and their email addresses on this form.
Please answer thequestions on this form in less than 3 pages and attach team resumes
Name of Business: / Ex: Google
This first team member must be a student of the University of Michigan (Ann Arbor campus).
Primary contact: / Ex: Jane Smith
Degree and grad date: / Ex: MBA 2018, JD 2019, BSE IOE 2020,etc / UMID: / Ex: 1234 5678
Email: / Ex:
Team member name:
Degree and grad date: / UMID:
Email:
Team member name:
Degree and grad date: / UMID:
Email:
Team member name:
Degree and grad date: / UMID:
Email:
Team member name:
Degree and grad date: / UMID:
Email:

Applications are due by 8:00 a.m. on Monday, November 6, 2017. Application materials should be bundled into a single .pdf and emailed to . In addition to completing and submitting an Intent to Compete form you must fill out an online team information form (tinyurl.com/mbcteaminfo) in order to have a completed application.
QUALIFYING ROUND NEW THIS YEAR: All teams are expected to pitch in the Qualifying Round at an appointed time on Wednesday 11/15, Thursday 11/16, or Friday 11/17. When you submit your application, you will receive a link to schedule your Qualifying Round pitch.

1)PROBLEM/OPPORTUNITY What is the problem or customer need that you are solving? Explain the “big picture’ and the specific problem or need.

2)COMPETITIONHow are people coping with the problem that you described in Q1 now? Why are these solutions inadequate?

3)SOLUTIONWhat is your initial idea for a better solution to the problem, and how is it different and better than existing solutions?

4)DESCRIPTIONPlease provide a stand-alone sentence that fully describes your business (one sentence). This will be used in listings of participating teams.

5)MARKET What is the size of your overall market? Who is your target customer?

6)BUSINESS MODEL What is your initial hypothesis on how you make money? (For example, sales of products, subscriptions, etc). This may change as you work on your venture.

7)TEAM How does this opportunity intersect with your team’s capabilities? Describe your team’s capabilities as it relates to the opportunity described in Q1 (not the solution in Q3). Be specific and be sure to explain why your team is well-positioned to address this opportunity. Attach resumes for all team members.

8)TRACTION Have you generated revenue prior to the current academic year? Have you raised equity capital from sources other than the student team before the current academic year? (If yes to either question, please explain.)

9)How did you hear about MBC?

10)How did you meet your team members?

11)QUALIFYING ROUNDNEW THIS YEAR: All teams are expected to pitch in the Qualifying Round at an appointed time on Wednesday 11/15, Thursday 11/16, or Friday 11/17. When you submit your application, you will receive a link to schedule your Qualifying Round pitch.

12)ROUND ONE AVAILABILITY If your team passes the qualifying round, you will have to pitch in Round One on Friday, December 1, 2017. Do you have any time constraints during Round One on December 1, 2017 from 1 – 5 p.m.? We will do our best to try to accommodate these.

SeigleImpact Track information on following page.

SeigleImpact Track (optional)

Impact teams will have a chance to compete in this track, which begins in Round 2 of the Michigan Business Challenge. All teams will compete and be judged together in Round 1.

The goal of this track is to stimulate the creation of new businesses, products or services that prioritize a clear social and/or environmental mission. The award recognizes the business plan that best pursues a mission-driven goal through its product/service offerings and underlying operations of the firm; the firm may be either for- or not-for-profit.

If you would like to be considered for the Impact track, please answer the following:

1)What is the social and/or environmental macro issue and specific problem your idea addresses (if different than above)?

2)What target population will your idea benefit?

3)What impact does your idea create?

**In addition to the Intent to Compete form you must fill out an online team information form (tinyurl.com/mbcteaminfo) in order to have a completed application.**