Dear Life Science Ecosystem Leaders,
We are thrilled to announce the launch of our inaugural Life Science Startup Business Plan Competition at the Michigan Tech Week (MTW) in Ann Arbor, offering an exciting opportunity for budding innovators to showcase their ideas and vie for a chance to win a grand prize valued at $20,000! If you are a visionary entrepreneur with a passion for driving advancements in the field of life sciences, this competition is tailor-made for you.
The Grand Prize Winner will receive a cash award of $15,000, along with $5,000 worth of legal services provided by Varnum Law Firm.
The runner-up will receive a $5,000 cash award.
Finalists will be invited to pitch in front of a distinguished panel of judges at the iconic Big House venue.
Event Date: October 9, 2023
Location: Big House, Ann Arbor
Entry Deadline: September 15, 2023
Your company needs to:
- Be incorporated (or an LLC) with major operations/headquarters in Michigan
- Have an established, full-time founding team
- Have a product or Minimum Viable Product (drug, device, assay) with IP protection
- Have a strong social impact in solving unmet medical or life science research problems
- Be committed to growing their business/team in-state (does not exclude growing out-of-state as well)
Companies that have raised $2 million or more in funding (excluding state or federal grants) are ineligible.
How to Enter:
A. Prepare your Business Pitch Deck:
Your pitch deck should have no more than ten slides (Not including your cover slide)
- Technology and IP protection
- Market insight
- Competition (Hint: Porter’s five forces)
- Business model
- 5 Year Finance Projections
B. Submit Your Entry:
Email your pitch deck to MLSEABusinessPlanCompetition@gmail.com
C. Selection Process:
A panel of experienced judges will evaluate the entries based on criteria such as innovation, feasibility, market potential, and impact on the life science sector.
D. Final Event:
If selected as a finalist, you will be invited to present your business plan at our final event, where you'll have the chance to impress the judges and compete for the grand prize.
*slides must be submitted in PowerPoint or PDF format.