Michigan Technological University Students will compete for more than $5,000 in cash and prizes in the 2018 Bob Mark Business Model Competition. Hosted by the Innovation Center for Entrepreneurship, the event will take place from 7 to 9 p.m. Wednesday (Dec. 5) in the Opie Library on the Tech campus. The event is free and open to the public. .
The 2018 Bob Mark competition includes an idea pitch and a business model description. Using Lean Launchpad methods and the Business Model Canvas, students will share insights from customer interviews that inform their business model. Prizes will be awarded to the most scalable and actionable business model pitches. Using prize money, students have a chance to take their entrepreneurial idea to the next stage of development, further preparing them for additional opportunities such as competing at the New Venture Competition held this April at Central Michigan University.
University President Richard Koubek will serve as a distinguished judge alongside other entrepreneurially minded faculty, staff and community members.
Prizes for the Bob Mark Business Model Competition include:
- First Prize — $2,000 plus $100 in services from MTEC SmartZone
- Second Prize — $1,000 + $100 services from MTEC SmartZone
- Third Prize — $500 + $100 services from MTEC SmartZone
- Honorable Mention (two prizes) — $250 each
- Audience Favorite — $250
- MTEC SmartZone “Game Changer” prize — $1000
As part of the first prize cash award, Arroyo Networks is offering one year of free 24/7 access to Arroyo Networks office space which includes a desk, high-speed internet, printing, business address and office supplies.
This event is a tribute to the late Bob Mark, professor of practice in the School of Business and Economics. Mark founded the Elevator Pitch Competition and brought the Business Plan Competition to Michigan Tech. The Bob Mark Elevator Pitch Competition and other efforts support his entrepreneurial spirit and that continues to live on in students, faculty, and staff.
The 2018 Bob Mark Business Model Competition is part of Husky Innovate, a series of workshops and events that build on each other with the intention of guiding students through key phases of innovation or business development while emphasizing evidence-based strategies for success. Bob Mark Business Model Competition is hosted by the Innovation Center for Entrepreneurship, which is a collaboration between the Pavlis Honors College, the School of Business and Economics, and the Vice President for Research Office.