New Venture Competition begins with speaker, will include Michigan Technological students
Approximately 45 people gathered at the Central Michigan University Events Center Thursday afternoon for the kick-off reception of the second annual New Venture Competition.
The competition was started last year by Chuck Crespy, dean of the College of Business Administration, to create opportunities for students who have business start up ideas and wish to pursue them.
“Our goal at CMU is not only to provide a first class education,” Crespy said, “but to also give students a leg up in making (their) dreams a reality.”
Crespy also discussed the challenges competitors will face over the next eight months. However, the competition allows students to possibly turn what they are thinking about right now into the next 30 years of their life, he said.
This year, the competition will award $45,000 total to first, second and third place winners. There will also be a new category for the best social venue.
Executive Director of Isabella Bank Institute for Entrepreneurship, Deb Zellner said Michigan Technological University will be joining the competition.
“It’s a way to reach out and increase interest statewide,” Zellner said. “Michigan Tech has strong academics in sciences and bringing their best business students will bring diversity to the competition.”
Entrepreneur and Chief Executive Officer and Creator of Advanced Battery Concepts Ed Shaffer was the keynote speaker, who talked about his experience in the business and creating something big from just an idea. He said he was enthused about CMU’s opportunity and urged students to stick with it.
“In the end, owning your own business beats working for the man, which I did for 20 years,” Shaffer said.
Students are able to compete in groups and many are back for their second year.
Rockford senior Paul Volk and Clio senior Amir Abu-Aita have teamed up for a second year, and after watching last year’s competition, said they are sure they will beat everyone out.
“Our idea is the winning one,” Volk said. “It’s never been done before and it’s going to save the world.”
The office will hold seminars throughout the semester, starting with the New Venture kick-off and mixer on Sept. 9. The intent to participate form is due Nov. 18.
After watching over the shoulder of a few of last year’s competitors, Farmington Hills sophomore Michael Johnson said he is ready to take part.
“The event was excellent and it showed what a great opportunity CMU provides for everyone,” Johnson said. “This is a way to get your feet into the real world and ramp start your career even more.”
For more information about the event or joining, students can stop by Grawn 164 or visit www.cba.cmich/nvc.
