IBIE Fall 2022 Program Update

Isabella Bank Institute for Entrepreneurship

PROGRAM UPDATE March 2022

STAY IN THE LOOP WITH IBIE’S NEW UPDATES! INSIDE THIS ISSUE » Letter from IBIE Director Julie Messing » Celebrating our Make-A-Pitch winners » Upcoming IBIE events and bootcamps » NVC updates » And more!

WANT TO BE INVOLVED? CONTACT US! Grawn 164 | 989-774-3270 | nvc@cmich.edu

LETTER FROM THE DIRECTOR On behalf of the Isabella Bank Institute for Entrepreneurship (IBIE) and New Venture Competition/Challenge (NVC) team at Central Michigan University, welcome to our 1st published update. We plan to offer these updates both electronically, and in print 3-4 times each semester and once over the summer.

It was humbling for me to step into this role nearly 18 months ago; to join a program with a long-standing history and success with the NVC. The first year was a predominantly virtual experience as we navigated through the challenges in offering student experiential opportunities during the Covid-19 limitations.

We are thrilled to have turned the corner and planning in-person events this semester, including the Competition Finals, Gallery, and Awards Gala for the 10th Annual New Venture Competition.

Julie Messing Entrepreneurship Faculty & Isabella Bank Institute for Entrepreneurship Director, Central Michigan University julie.messing@cmich.edu

As you read through our update, I ask you to look at our future offerings and growth through a ‘new lens’. Re-energizing IBIE and NVC post-pandemic will look a bit different and you will notice new faces and new programming. As we move forward, we are embracing a vision of collaborative, cross-campus entrepreneurship and innovation where students & faculty come together from all disciplines to ideate, create, and grow their ventures. To support this vision, we are evolving and expanding to include: » The NVC Gallery & Awards Gala will be in partnership with other CMU programs, including Fashion, Engineering, and Arts & Media to showcase and celebrate our students’ creations, innovations, and new venture ideas. We plan further reach in the future as this becomes a campus and community-wide celebration of innovation & entrepreneurship. » Later this semester we will hold a Grand Opening of our new student community & maker-space for any student engaging in innovation, creativity, or entrepreneurship. This space is located in Grawn 166. » We are adding several events, speakers, and a “launch fund” to our IBIE programming to engage students in many entry points to entrepreneurship and NVC. » While our staff team is smaller, we have added an impressive team of students to help develop new programming and assure success in our IBIE initiatives.

Believe in their vision....believe in ours In order to keep this initiative growing, we need your assistance. Our student entrepreneurs are hungry for more opportunities, networking, and guidance with their ventures. Please review our updates, attend or participate in events with students, or offer to mentor and then let’s chat about how together, we can expand the support and guidance for our student entrepreneurs.

Warm Regards,

CONGRATULATIONS MAKE-A-PITCH WINNERS! FIRST PLACE IN-PERSON 1 Little Elevator Company Jamila Little

FIRST PLACE VIRTUAL CannaKissed Boutique Rebecca Burden (not pictured)

SECOND PLACE Climate Closet Madison Krohn

First Place In-Person — 1 Little Elevator Company

THIRD PLACE Veg Libby Jackson

HONORABLE MENTION The Cupcake Cafe LLC Mariah Sperkoski Second Place — Climate Closet

Third Place — Veg

HONORABLE MENTION mXs Productions Evan Johnson

AUDIENCE CHOICE Electric Central Honorable Mention The Cupcake Cafe LLC

Honorable Mention mXs Productions

Audience Choice Electric Central

Gracie Bazzell & Bella Loughridge

UPCOMING EVENTS WORKSHOPS & EVENTS Workshop / Bootcamp Skill Building Event Social Event / Networking

Tuesday, March 1

SKILL BUILDER: FINANCIALS GRAWN 150 | 3:30 - 4:45 PM Need a refresher on financial literacy? Struggling with understanding a financial summary?

This workshop will teach you how to explain financial concepts with ease.

TUESDAY, MARCH 15

FIRESIDE SPEAKER

Thursday, March 24

Thursday, April 14

SKILL BUILDER: PROTOTYPING, WEB DESIGN AND APP DEVELOPMENT

SKILL BUILDER: PITCH PRACTICE

GRAWN 150 | 3:30 - 4:45 PM This workshop will teach you the basics of web design and introduce you to WordPress and Wix.

An opportunity for NVC teams to receive some last-minute practice, and receive feedback from mentors and IBIE staff.

FRIDAY, APRIL 22 THURSDAY, APRIL 7

BOOTCAMP 2 (PART 1) CMURC | 5:30 - 8:00 PM IBIE and CMURC are co-hosting this networking event for NVC students and local business professionals. NVC students will be able to discuss their new venture proposals and gain feedback before the competition.

SERIES: REED SHICK GRAWN 178 | 5:30 - 8:00 PM

FRIDAY, APRIL 8

Fireside Speaker Series allows you to learn from entrepreneurial professionals and gain insight into what makes new ventures successful.

BOOTCAMP 2 (PART 2)

Reed Shick is the Director of Research Development & Director of Intellectual Property at Advancement Battery Concepts.

GRAWN 150 | 3:30 - 4:45 PM

GRAWN 150 | 10:00 AM - 4:00 PM Topics: Web/App, Presentation Resources, Executive Summary, Gallery Prep, and Pitch Practice

NEW VENTURE CHALLENGE CMU CAMPUS | 2:00 - 8:00 PM Join us for the big event! You will compete in the Finals, Elevator Pitch Competition, and the Gallery Showcase. The night will conclude with awards, drinks and a strolling dinner.

REGISTRATION To register for these events visit the NVC web page.

The 2022 New Venture Challenge is happening April 12 and April 22.

ARE YOU READY FOR NVC?

Teams will present their ventures in the 1st round virtually, April 12. Students and guests will be on campus April 22 for final presentations, the 2-minute pitch competition, gallery showcase, and awards and recognition gala.

THE ROAD MAP TO NVC: Learn » NVC students will participate in a series of boot camps and mini-workshops that will guide them through the start-up process. » Network opportunities will build key relationships with mentors, advisors, investors and more.

IMPORTANT DATES:

» Teams will get the chance to interview potential customers in the customer discovery process to validate their business idea.

MARCH 16

Compete » Students will present their idea in the New Venture Challenge to compete for over $65,000 in cash prizes and in-kind services. » They can go on to enhance their business concept based on feedback from industry experts.

Launch » Students can utilize their skills to launch products or business ideas and form a business entity.

Intent to Compete Due.

APRIL 4 Entry form and 2-min video pitch submission due.

APRIL 12 Virtual First Round Event.

APRIL 22 Final Round Event: finalists announced, 2-min pitch competition, campus-wide innovation gallery showcase, dinner and award ceremony.

ADDITIONAL NVC UPDATES 2022 NVC AWARD CATEGORIES New venture teams will compete under three different categories. The top three ventures in each category will be awarded cash prizes.

HIGH GROWTH

MAIN STREET

SOCIAL MISSION

1st Place: $10,000

1st Place: $10,000

1st Place: $10,000

2nd Place: $5,000

2nd Place: $5,000

2nd Place: $5,000

3rd Place: $2,000

3rd Place: $2,000

3rd Place: $2,000

ELEVATOR PITCH COMPETITION

NVC INVESTOR CONTRIBUTION AWARDS

Best Overall Pitch: $4,000

Middle Michigan Development Corporation (MMDC) Investor Award: $2,00 and In-Kind Services

1sr Runner Up: $2,000 2nd Runner Up: $1,000 (2) Honorable Mention: $250 each

Runner Up by Audience: $500

ISABELLA BANK GALLERY AWARDS

AUDIENCE CHOICE AWARDS

1st Place Gallery: $4,000

Top Choice by Audience: $1,000

2nd Place Gallery: $1,500

Runner Up by Audience: $500

3rd Place Gallery: $1,000 (2) Honorable Mention: $250 each

NVC MENTOR SPOTLIGHT “If you truly believe in your product and have the drive and passion to get it to market, then there is no better time or place to do it!”

Denise Graves University Relations Director, Entrepreneurship and Innovation, Michigan Economic Development Corporation

Denise is the University Relations Director for the Entrepreneurship & Innovation team at the Michigan Economic Development Corporation (MEDC). In this role, she interacts with Michigan’s public universities, key entrepreneurial stakeholders and investors, managing programs that support statewide collaboration and the commercialization of early stage technology.

Before joining MEDC in October 2011, Denise held sales and business development positions in a number of small and second stage high-tech companies in Ann Arbor. Her experience includes new business development, channel partner relations, client relations, sales, strategic planning, public speaking and contract negotiation and management.

Denise holds a Bachelor of Science degree in Accounting from Ferris State University.

BECOME A MENTOR NVC mentors are experienced business and entrepreneurial professionals that help guide NVC teams through the process of launching a new venture. Contact the IBIE office today to learn more!

Contact: Office: Grawn 164 Phone: 989-774-3270 Email: nvc@cmich.edu

Supporters like you have a direct impact on our student entrepreneurs.

Thank you!

- From IBIE faculty and staff.

For more information contact us at: Grawn 164 | 989-774-3270 | nvc@cmich.edu