BURGESS NEW VENTURE CHALLENGE
The Burgess New Venture Challenge: Is Your Idea Ready?
The Burgess New Venture Challenge is Michigan State University’s premier student entrepreneurial showcase. The program represents best-in-class experiential learning, focused on innovation, business planning, and taking proactive initiative. Our goal is to empower the entrepreneurial mindset and create lasting impact with our students as they transition to their careers in the global marketplace.
Awards and Prizes
The total purse for the event is $42,000, which is divided over the top five ventures. As well, two People’s Choice Awards will be granted.
Awards are granted to the winning teams in tranches based on milestones and in the form of scholarships that are refunded to the students as long as they do not have any outstanding balances (tuition, tickets, etc.) with the University.
What are the Prize Values?
1st Place: $15,000*
2nd Place: $10,000*
3rd Place: $5,000*
4th Place: $3,000
5th Place: $2,000
Ten other teams will receive seed funding in the amount of $500 and People’s Choice will be 2 at $1000.
*The top three winning teams will automatically receive a meeting with Red Cedar Ventures to discuss a possible investment.
Key Dates & Judging Process
Applicants will be asked questions related to the following aspects of the business or idea:
• What problem are you addressing?
• What is your proposed product/service and how does it solve the problem?:
• Who wants your solution? How large or valuable is the potential market?
• What costs are associated with your business and launching your idea?
• February 16: Applications close by 11:59 pm
You will receive a free Liveplan account to develop your business plan
You must meet with coaches/mentors for guidance
• March 2: Full business plans due
• March 5: If accepted as a finalist, you must reply by 4 pm
• March 9: Finalists announced
• March 12: Mandatory group practice pitch session
• March 16: Final pitch decks in PowerPoint, high res logo, final business plan due
• March 24: Event (2:30 - 8:30 pm) - as a finalist, you will participate in a trade-show format, present to a panel of judges, and may have the opportunity to pitch in front of the entire audience.
Rules, Eligibility, & Declaration
• The company must be at least 50% owned by a currently registered Michigan State University student (undergraduate or graduate)
• The applicant must be a currently enrolled student at Michigan State University
• The applicant must be enrolled in the Burgess Institute Discovery Program
• If the company/idea won a monetary award at a prior Broad Business Model Competition/Burgess New Venture Challenge, you are not eligible to compete in this Burgess New Venture Challenge
• If selected as a finalist, you will respond by the required reply-by date
• If selected as a finalist, you will attend the mandatory group practice pitch session
• If selected as a finalist, you understand you may be contacted on a regular basis and asked to provide data on company status, metrics, and, where applicable, financials
• If you attend the Burgess New Venture Challenge, you understand that your images may be used—but not limited to—in marketing materials and social media campaigns.
• If you are selected to receive a financial award, you will make your best effort to promote the Burgess New Venture Challenge as a supporter of your company.
For more information, please reach out to Lori Fischer: firstname.lastname@example.org