Dare to Dream Program Supports Viable Start-ups in Southeastern Michigan
ANN ARBOR, Mich., 10/29/2002 -- University of Michigan's Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies, the world's leading university-based center for entrepreneurial studies, has awarded $25,000 through its Dare to Dream Grant Program to support viable student-led businesses located in southeastern Michigan. Wolverine Real Estate Investments, LLC and Voila Crepe Café topped this year's applicants and will receive $12,500 each to establish their businesses.
This is the second distribution of Dare to Dream Grant funds, sponsored wholly by the Community Foundation for Southeastern Michigan, which has awarded a total of $105,000 to promising student-led startups in 2002. Last spring $80,000 in awards was given to six student led businesses, which included a patent pending medicine opener, smart video technology for security systems, a miniaturized CAT scanning technology, advancing soft shell blue crab production, mixed-signal technologies and software solutions for the fitness market. In addition to funding, Dare to Dream winners are also provided free office space for one year and receive course credit.
"We view the Dare to Dream Grant Program as an important catalyst in driving our students' entrepreneurial spirit," said Thomas Kinnear, executive director of the Zell Lurie Institute for Entrepreneurial Studies. "Dare to Dream provides the funding and infrastructure allowing students to turn their business concept into an actual company. We are proud of the accomplishments our past Dare to Dream winners have made, and are confident our newest winners will share in their success."
Wolverine Real Estate Investments, LLC is a proposed enterprise created by MBA students Matthew Tucker and Steven Cassell. Their plan is to create a real estate investment and development corporation committed to improving and restoring properties that will provide quality residential housing. The Dare to Dream grant will fund the company's launch and initial due diligence of the Ann Arbor university housing market.
Richard Baudin, another MBA student, has big plans for the Voila Crepe Café. He envisions a chain of convenient counter-service restaurants providing made-to-order crepes at superior value. With plans to launch in May 2003, the Dare to Dream funding will be used for legal services to incorporate the company and register the brand. Grant money will also be used to refine products and marketing strategy.
"Last year's Dare to Dream Grant Program was truly a shot in the arm for my start-up," said John Gary, MBA2 and founder of Roger Inc., a previous Dare to Dream grant winner. "The Zell Lurie Institute has provided me with the resources, knowledge and funding to foster the success of my company."
The next round of Dare to Dream Grant winners will be announced February 2003. For more information on Dare to Dream, please visit http://www.zli.bus.umich.edu/.
About Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies
The Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies was formed in October 1999. The Institute actively engages the nation's most successful entrepreneurs and offers an outstanding faculty composed of both academic researchers and practitioners in entrepreneurship. The Institute's mission is to focus the capabilities and resources of the University of Michigan Business School to provide education, experience and opportunities in entrepreneurship; serve as a catalyst for new venture development; and contribute important research in the field of entrepreneurship. Members of the Institute's Advisory Board include Samuel Zell, Chairman of Equity Group Investments; Michael Hallman, former COO of Microsoft Corporation; and Eugene Applebaum, Founder of Arbor Drugs.
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