Michigan Tech students finally got a chance to celebrate their win in the New Venture Competition.
â??It was a competition strictly between Central Michigan University and Michigan Tech University students to start an idea and take it as far as they can through a business plan and through an investor pitch to get funding through the competition and to actually start their idea,â?? said New Venture Program Coordinator Travis Beaulieu.
The first place prize of $30,000 along with $10,000 for Best Social Venture went to Ben Mitchell.
There are over 50 million bicycles in sub-Saharan Africa and 10 percent of their income is spent on fixing flat tires.
â??Our first product is what we call the Milele Tube which means forever in Swahili and so the tube is essentially a solid tube that never needs air and can never go flat so this is used on bicycles in the expense of replacing traditional tubes on a regular basis,â?? said Baisikeli Ugunduzi co-founder Ben Mitchell.
Mitchell and his co-founder John Gershenson will travel to Kenya in May to launch the business.
Another idea submitted by one of the members of the New Venture team was womenâ??s hunting and outdoor apparel. The designer says it has been in development for the past two years.
â??There are a lot more women out there who do hunt and fish and people donâ??t actually realize it but weâ??ve been forced to wear apparel that doesnâ??t fit us right. When you take a male garment and put pink on it, that doesnâ??t make it a female garment, said Two Bows L.L.C. founder Jessica Tompkins.
Jessica Tompkins has designed a variety of items, from wool jackets to hats.
Along with Tompkins, the other four MTU teams are moving forward with their designs. The New Venture Competition is only in its second year.
Travis Beaulieu is the co-founder of a company called AsfalisMed which is an online medical profile for college students. This gives emergency medial personnel in a college town access to a studentâ??s medical information in an emergency situation regardless of where they are from.
Click here to find out more about Mitchell and Gershensonâ??s Milele Tube.
Tompkins womenâ??s hunting and outdoor apparel does not have a website yet but it will soon be featured here so she can start raising funds.