Wolverine Venture Battle (WVB)
There is no one right way to start a venture. Therefore, the path to success in the real world entails competing with teams who use many different approaches to achieve the same goal: funding. The Wolverine Venture Battle (WVB) simulates the real world by allowing teams to compete for prize money without the confines of a cumbersome administratively heavy business plan competition. The Wolverine Venture Battle is open to both social and commercial teams.
Who Should Participate?
The competition is not limited to business and entrepreneurship majors. In fact, this competition has been deliberately designed for all majors to be comfortable participating. We’re looking for:
- GCC students interested in enhancing their presentation skills
- GCC students who want to explore the idea of starting a new venture – social or commercial
- GCC students who enjoy hands-on learning experiences
- GCC students with competitive spirits who are ready to have fun and win cash prizes
Spring 2018 Important Dates
- Feb. 22: Intent to Compete by 11:59 pm
- March 28: Proof of Concept Due by 11:59 pm
- April 16: WVB Finalists Announced
- April 24: WVB Investor Packet Due
- May 4: Wolverine Venture Battle + VentureLab Showcase | Sticht Lecture Hall | 1:00 – 4:00 pm
Teams to Compete for $20,000!
Round One: Intent to Compete
To register, teams are required to complete the online form by clicking on the button below.
- What is the name of your venture?
- Is it social or commercial?
- Team Member Information
- Idea description (1-2 paragraphs)
- Commercial Enterprises Only: Completed Business Model Canvas. Here’s a PPT template. Please print it to PDF before you upload it. Guidance on how to complete the Business Model Canvas can be found here.
- Social Enterprises Only: Completed Mission Model Canvas. Here’s a PPT template. Please print it to PDF before you upload it. Guidance on how to complete the Mission Model Canvas can be found here.
Register above by 11:59 pm on Thursday, February 22, 2018.
Round Two: Proof of Concept Round
Once you indicate your intent to compete, it’s time to get to work! For the next few weeks, your team will go about making as much progress as possible toward strengthening your case that your idea is a good (and viable) one. If you’re serious about being a contender, you’ll want to follow these proven Pro Tips.
Your Proof of Concept Round Submission consists of the following three parts. When you’re ready to submit, access the submission form by clicking on the button below.
PART 1 – PowerPoint Presentation: In no more than 15 slides, summarize each of the nine blocks on the Canvas as it pertains to your idea. PowerPoint presentations must be saved as a PDF.
PART 2 – Video Submission: In a video that is no longer than seven minutes, tell the WVB Review Panel a compelling story that makes them believe that your idea is a BIG idea. Weave in aspects of the PowerPoint presentation that support your cause.
The video is also where you want to highlight what you’ve done to strengthen your belief that this is a viable venture. If your team did a ton of interviews, tell the WVB Review Panel about the insights that you have discovered. If you made a prototype, show it off! Explain the changes in thinking that your team has experienced from the initial Canvas and how you’ve pivoted. Finally, make the video interesting!
Videos are to be uploaded to YouTube and the link to view the video will be submitted below. (You may categorize the video as “Unlisted” if you do not want the public to have access while still allowing the WVB Review Panel to view it.)
PART 3 – Submission Statement: This Submission Statement signed by all team members must be uploaded as well.
Feedback will be provided to the finalist teams in order to guide them as to how they should proceed to strengthen their business models.
Submit Proof of Concept by 11:59 pm on Wednesday, March 28, 2018.
Round Three: Final Battle Round
Now is the time to put your foot on the proverbial gas! The top teams are expected to continue to make as much progress as possible with their ventures as they prepare for the Final Battle Round.
Investor Packet Submission
The Finalists are required to submit an Investor Packet by 11:59 pm on Tuesday, April 24. This packet should include:
- An Executive Summary in this one page format used by the Angel Capital Association with one exception – the Financial Summary at the bottom is only required to show a THREE year estimation: 2019, 2020, and 2021.
- Income Statement for 2019, 2020, and 2021 to support the numbers shown in the Executive Summary. To help teams with this portion of the packet, we have a financial mentor, Dan Bowser, coming to campus. Teams will be able to sign up for 30-minute time slots with Mr. Bowser from 1:00-5:00 on Friday, April 20th. Instructions for preparation and sign up will be provided to the finalist teams. A good tool to start thinking about your finances is Runway – a cash planning tool for startups.
- Teams are also permitted to submit any supplemental materials that they like, keeping in mind that the Investors are busy people and will most likely not read volumes and volumes of material.
Submit Investor Packet
The Final Battle
The Final Battle will consist of an 8-minute pitch presentation to the Investors. The Investors will then have 7 minutes for questions.
Some resources that may assist you as your prepare your presentations include:
Unlike a formal business plan competition, you are not required to wear business attire. Feel free to dress as appropriate for your business idea. Of course, if you need to wear your power suit, feel free to do so!
Once all teams have presented, the Investors will go to the deliberation room to decide which teams that they would like to “invest” in. Just as in real life, each Investor will have a set dollar amount to spend and can give any amount to any and all teams. The Investors will place whatever amount they deem appropriate in designated envelopes. This means that, theoretically, all finalist teams could end up with cash….or one team can take it all!
The total amount of cash that the top teams will be competing for is $20,000!
Keep in mind: This is prize money (not an actual equity investment).
Prize Giving Ceremony
The Investors will then return to Sticht Hall to announce their investment decisions as the crowd eagerly tracks each team’s winnings.
The TOP TEAM as determined by total cash winnings will be crowned the Wolverine Venture Battle Champion. HUZZAH!
The Final Battle is Friday, May 4, 2018, at 1:00 pm in Sticht Lecture Hall.
Té Amo: Mark Sotomayor* ’20, Ryan Budnik ’19
The GeniusCorps: Jordan Horst* ‘18
SEO Vineyard: Connor Grieb* ’18
Māhlon Acoustics: Andrew Graber* ‘20
dancetracks: Heather Hondel* ‘21, Cameron Suorsa ‘21, Eric Dudgeon ’21
Trajectory: Daniel Toney* ’18, Sam Casteel ’18, Jeremy Bost ’18, Andrew Vogel ‘18
Graphrite: Madeline Williams* ’18, Samuel Kenney ’18, Keith Meikrantz ’18, Austin Zick ‘18
Mended Sock Co: Alexandria Bailey* ’20, Alexandria Halton ’20, Caroline Parker ’20, Sophia Stangebye ’20, Laura Williams ‘20
Wolverine Venture Battle 2018 Sponsors
Heartfelt thanks to our sponsors for their generous support.
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The Habbershon Family
Tim ’81, Grant ’06, Meredith ’07, Jonathan ’09, and Natalie ’11
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Susan and Eric Hanson ’73
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Kelly (Tsikalas ’92) and Matt Knouse ’92 and family
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Betty Rae (Gray ’82) and Stephen Smith ’81
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Michael ’86 and Wendy (Knight ’86) Kuremsky
WOLVERINE ADVOCATES + FRIENDS
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Cindy (Mayfield ’72) Crooks and Ed Crooks ’71
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Jeanne, George ’88, Chad ’16, and Trey Hall
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Elizabeth (Smith ’81) Hanley and Peter Hanley
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