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ANN ARBOR, Mich., 03/11/2004 -- The University of Michigan Business School's Zell Lurie Institute for Entrepreneurial Studies will host the 2004 Venture Capital Investment Competition (VCIC) from March 11 - 13.
Teams of MBA students representing eight universities will listen to presentations by the CEOs of actual companies preparing to seek funding and evaluate their business plans. The team members will then question the companies' presidents or CEOs and decide which of the companies they would invest in. The teams then defend their investment strategy decisions in front of a panel of venture capital professionals serving as judges. These judges decide which of the teams had the best investment strategies, and the top two performing teams progress on to a national competition in April at the University of North Carolina.
A section of the event is open to the public, allowing intrigued spectators to view student team presentations on Saturday, March 13 from 1- 4 pm. The public presentations will be held in room EO550 in the UM Executive Residence Building.
The teams participating in the March 11 contest at Michigan represent the business schools at the University of Carnegie Mellon, the University of Chicago, Georgia Tech University, Indiana University, Northwestern University, Washington University of St. Louis, University of Wisconsin and Notre Dame.
Companies presenting their business plans at Michigan are Cyclotec, which has a new pain treatment device; DCM, which provides on-line hazmat training represented; Microstar, which has technology for miniaturized computer switches; Picocal, which has a device to greatly increase the efficiency of silicon chip manufacturing; and ScarPrev, which has a technology to reduce scarring after surgery.
VCIC gives entrepreneurs the opportunity to present their plans to discerning MBA students before pitching to actual venture capital firms. Students see the competition as a way to put into practice everything they have learned in business school.
Judges for the VCIC Central Competition at Michigan are Dan Boyle of White Pines; Jason Burr of Arbor Partners; Beau Laskey of EDF Ventures; Marc Weiser of Waypoint Ventures; Kurt Riegger of North Coast Technology Investors; Greg Buck of the M Group; Tom Edwards of IdeaWorks!; Rajesh Kothari of Seneca Partners; and Mina Sooch of Apjohn Ventures.
The University of Michigan Business School Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies is the sole sponsor of the regional competition. For further information about the competition, please see: www.zli.bus.umich.edu and click on March 13: Venture Capital Investment Competition, or visit the VCIC home page at www.vcic.unc.edu.
About Samuel Zell and 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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