US Midwest

Zell Lurie Institute for Entrepreneurial Studies Center for Venture Capital and Private Equity Finance

Graduate Overview

The Stephen M. Ross School of Business at the University of Michigan has had a rich history in entrepreneurial studies since 1927 when the School taught its first courses in entrepreneurship. Now, the School’s Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies and its Center for Venture Capital & Private Equity Finance is one of the best-resourced, most practically oriented programs in the country. The Institute brings together a potent mix of knowledge, experience and opportunities from the front lines of entrepreneurship and venture investing to develop the student entrepreneurial mindset.

The Institute Supports Graduate Students by:

• Providing mentoring, access to funding, participation in competitions, and other significant support for students to take the knowledge learned in the classroom, build upon their innovative ideas, formulate a business plan, fund and launch a business.

• Enhancing the student learning experience through internships, field projects, entrepreneurial organizations, student clubs and events that create a viable network connecting students with high-growth businesses and venture capital firms worldwide.

• Maintaining close ties with acclaimed research units, such as the U-M Medical School and the College of Engineering, and immersing highly motivated students in the commercialization process for University ideas and technologies that result from over $800M of annual research activity.

The Institute Offers:

• Twenty-five course electives that cover all aspects of business development and venture investing taught by twenty-four outstanding Entrepreneurial Studies faculty members.

• Seven action-based learning initiatives including two student-led investment funds, the Dare to Dream Grant Program for student start-ups, internships and other action-based learning opportunities with start-ups and venture capital firms, and competitions for student-run ventures.

• Ten business development seminars to guide students through the challenges of investigating, formulating, planning and launching a venture.

• Several annual educational and networking events including Entrepalooza, Michigan Growth Capital and Private Equity Symposia.

• Numerous entrepreneurial networking activities and organizations including Mingle ‘n’ Match and the student-led Entrepreneur and Venture Club and the High-Tech Club.

• Individual mentoring appointments through the Institute’s Office Hours program that provide counseling on business ideas, course selection and programs to guide student progress.

Together, these exclusive resources and integrated methods, combined with the Business School's worldclass, broad-based management curriculum and action-based learning approach, effectively prepare students for entrepreneurial careers whether leading their own firms, investing in new ventures or creating value in more traditional career paths.

Institute Programs

Zell Lurie Institute Programs

Student Ventures

• Michigan Business Challenge and Other Business Plan Competitions: Each year the Institute hosts the Michigan Business Challenge and awards over $40,000 in prize money. In 2008, 34 teams entered the four-month long contest and competed in four rounds of face-to-face interactions with panels of judges. The Institute also sponsors and coaches dozens of students on multiple teams to attend several intercollegiate competitions that offer tens of thousands of dollars in prize money for business planning, venture investing and case writing.

• Dare to Dream Grant Program: This multi-stage program provides coaching and training to assist students in shaping opportunities, formulating and assessing potential businesses, and planning and launching these businesses. In 2007-08 the program awarded $101,000 to over 40 graduate and undergraduate student teams.

Venture Financing

• Wolverine Venture Fund (WVF): The $3.5M fund invests in early stage companies. With guidance from a board of professional investors, the 34 WVF students seek, screen and negotiate investments; and learn how to work with VCs and entrepreneurs. The Fund currently has nine active investments and experienced its first liquidation event in 2004 when IntraLase went public

and returned over $1M to the Fund.

• Frankel Commercialization Fund (FCF): This seed fund invests in Michigan-related businesses and business ideas, primarily through relationships with University of Michigan researchers. The 24 FCF students learn about the University commercialization process, early-stage investing, and the assessment of potential businesses in embryonic stages of development. The FCF made its first investments in 2007-08 with Arbor Photonics and BeholzTech.

Opportunities with Start-Up and Venture Capital Firms

• Marcel Gani Internship Program: This 12-week summer program provides students with outstanding hands-on experience in start-up companies and venture capital firms. Ross MBA students will have the opportunity and resources to have an immediate impact on the host’s business development and growth. During a typical summer, the Institute funds about 24 MBA students at 20 U.S. companies and venture capital firms.

• MAP: Student teams are placed with entrepreneurial start-ups, traditional corporations, or nonprofits worldwide. Over a seven-week period, MAP teams execute high-level management assignments, such as developing business plans, identifying new product opportunities and formulating strategies for market entry. In 2008, entrepreneurial projects represented about 10% of all MAP offerings in both domestic and international start-up companies.

• Case Writing and Independent Study: Students may elect to receive credit or compensation for researching, developing and writing entrepreneurial cases. Students may also pursue independent credit for working on academically rigorous new business development activities.

Contact Information:

Phone: 734-615-4419 or email: zlicontact@umich.edu. For more information or to sign up for an Office

Hours counseling appointment with an Institute staff member, visit: www.zli.bus.umich.edu.