University of Michigan's Zell Lurie Institute Kicks Off 2008-2009 Business Plan Competition Season Awarding Students More Than $50,000 in Grants

ANN ARBOR, Mich., Nov. 17 /PRNewswire/ -- The Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies/Center for Venture Capital & Private Equity Finance, today announced the recipients of the Fall 2008 Eugene Applebaum Dare to Dream Grant Program, where students apply for funding to advance their innovative, high-potential business concepts toward launch. Grant recipients were awarded funding and resources totaling $51,000 based on business concepts and plans submitted to panels of judges made up of faculty and members of the entrepreneurial and venture capital communities. In addition to the financial awards, grant recipients will receive counsel from leading business experts on business plan development and funding strategies.

"The innovation and industries represented by this year's Dare to Dream student teams reflect the unique, research-rich environment the University offers to aspiring entrepreneurs," stated Tom Kinnear, executive director of the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies. "Participating in the competition itself is a fantastic learning experience for our students. They are forced to evaluate market potential for their ideas, develop a business case and conduct due diligence. Then, selected teams benefit not only from the financing but they also gain access to business experts and venture capital leaders to determine next steps in the development of their business concepts."

Grants are administered at three funding levels: opportunity grants at $500, assessment grants at $1,500, and up to $10,000 for design grants. The following student teams received grants in October 2008:

    Integration Grants ($5,000 -- 10,000 each)
    -- Barn Wake Park -- indoor wakeboarding facility
    -- dusoto -- online resource for youth travelers to discover nightlife
       around the world
    -- GIDEON -- CAD software that enables and accelerates nanotechnology R&D
    -- i2 -- online service for custom home improvement design and instruction
       information on a modest budget


    Assessment Grants ($1,500 each)
    -- Cook for Cure -- low-iodine meals for thyroid cancer patients preparing
       to receive radio-active iodine therapy
    -- Elder Tree -- online money management solution that enables families to
       manage finances for an elderly family member
    -- enDep -- technology integrator for a Plug-in Hybrid Electric Vehicle
       (PHEV) powertrain that provides increased fuel efficiency, reduced
       driving costs, reduced vehicle emissions and a reduced reliance on
       foreign oil to high net-worth Toyota Prius owners
    -- Fontis Biotechnologies -- manufacturer of NovaPatch to deliver drugs
       directly through the skin
    -- Genuinely Organic -- organic beauty products that are environmentally,
       socially and economically sustainable, and at least 95 percent organic
       and USDA certified
    -- GHG Capital Partners -- sources, builds, and operates landfill gas
       projects that deliver high quality carbon credits to aggregators,
       financial institutions and end-users through the voluntary markets
    -- Magnetic Ventures -- magnetically assisted artificial joint, which is
       low cost, long lasting and reduces the likelihood of revision surgery,
       to patients who require total joint replacement
    -- ReLive -- sales and distribution infrastructure for live recordings to
       small and mid-sized performance venues and organizations
    -- Residential Energy -- professional energy efficiency (EE) retrofit
       solution for residential customers


    Design Grants ($500 each)
    -- Brain Sense -- customized service to functionalize neural probes for
       sensing neurochemicals in the brain
    -- Buerre d' Karite -- organic shea butter
    -- Dental Film Carriers -- dental film carriers to capture set of x-rays
    -- Draught Resist -- genetically modified grass to prevent susceptibility
       to draughts
    -- Enertia -- new micro-gyroscope design method, fabrication and vacuum-
       packaging technologies
    -- Fantasy Sports Junkie -- customized analytical models to allow users to
       select players
    -- Hanyu High School -- online Chinese classes for high schools
    -- MHEAL -- surgical lamp that utilizes building power with a backup to
       prevent frequent grid outages
    -- Play Safe -- high efficiency electrical generator attached to
       playground equipment to create renewable electricity
    -- Real Time Fatigue -- micro-sensors that measure fatigue in airplane
       wings
    -- Remodeling Coach and Crib -- certified remodeling coaches to assist
       homeowners with renovations
    -- SalesinSight -- infrared sensing devices capable of signaling to stores
       which marketing tools appealed to consumers
    -- Structured Microsystems -- integrates silicon and glass into a single,
       standard-sized wafer
    -- Track Africa -- RFID tags with medical information to help clinics
       improve medical records
    -- Vitro Graft -- in-vitro skin grafts

The Dare to Dream program, a hallmark of the Zell Lurie Institute, has been aiding student-run high growth business concepts since 2002. The program distributes up to $100,000 per academic year to Ross School of Business students. The program benefits students, as well as the local and university community, by stimulating entrepreneurial efforts and starting new businesses.

About the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies / Center for Venture Capital & Private Equity Finance

The Institute and its Center for Venture Capital and Private Equity Finance bring together a potent mix of knowledge, experience and opportunities from the front lines of entrepreneurship and alternative investments. The student learning experience is further enhanced through internships, entrepreneurial clubs and organization and events that serve to provide viable networks and engage the business community. The School's two student-led investment funds, with over $3M in management, immerse students in the business assessment and investment process. Members of the Advisory Board include Samuel Zell, Chairman of Equity Group Investments; Michael Hallman, former COO of Microsoft Corporation; and Eugene Applebaum, Founder of Arbor Drugs, Inc. For more information, visit the Institute at http://www.zli.bus.umich.edu .