Northern Michigan University international students Wenfei Kou and Yufeng Zhuo of China and Wilson Goh of Malaysia (pictured left to right) comprised the team that took top honors in two categories at the eighth annual New Business Venture Competition sponsored by the NMU College of Business. The team’s new business, Hobby Car Malaysia, a destination for vintage American automobiles and classic muscle cars for enthusiasts in Malaysia, won first place for the best business plan presentation as well as top trade fair display.
Second place in the business plan category and best elevator pitch went to Justina Liss of Bark River for Superior Shores Bike Park, a business that aims to keep mountain bike riders on their bikes through the winter. Third place went to Micah Argeropoulos of Marquette with the business proposal for Cardboard World and fourth place went to Brett Etengoff of Clarkston with his business, Specular Restraint.
The total prize value for the top three finishers—including cash prizes, financial/legal consulting and technology support—was $7,750 for first place, $4,000 for second and $2,200 for third. Best trade fair display and elevator pitch each earned $500 cash awards. All four finalists received business consultation from the College of Business faculty.
The New Business Venture Competition is designed to encourage entrepreneurial activism and is open to all students regardless of their degree program. It recognizes and rewards those who present detailed plans for designing and creating new business enterprises, drawing on their own ideas and inventions or those others. The yearlong event begins in October with the submission of business ideas.