Houghton, Michigan – Michigan Technological University students placed first and third in the New Venture Competition held recently on the campus of Central Michigan University. The first place team also was named Best Social Venture.
Ben Mitchell and Wade Aitken-Palmer won for creating better bicycle components for rural Africans who depend on their bicycles for their livelihood. Their idea, called Baisikeli Ugunduzi (Swahili for “modern bicycle”), captured a $30,000 first prize and another $10,000 for Best Social Venture, for its sustainability and social impact, among other criteria. The invention is a tube that eliminates flat tires.
The New Venture Competition is a joint Central Michigan/Michigan Tech event. Locally, the competition is sponsored by the Michigan Tech Enterprise Corporation (MTEC) SmartZone, the Keweenaw Economic Development Alliance, and the School of Business and Economics Entrepreneurs Club.
Runner-up in the finals at Central Michigan was MVMT Media Products, an entry of Central Michigan students Sean Armstrong and Jeff Wegner. Their business would manage high-quality online video content. They took home $10,000.
Winning third place and $5,000 was Picket Books, the brainchild of Michigan Tech students Kyle Johnston, a biomedical engineering major, and David Shull, who is studying computer engineering. In their business, students rent textbooks from each other online, streamlining the process and reducing the costs.
For the full story, see http://www.mtu.edu/news/stories/2012/march/story66242.html.
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