The Business Idea Pitch Competition is designed to identify and promote promising new business ideas from students at the University of Michigan-Dearborn.
Idea submission is closed.
Individuals or teams of up to five members start by submitting ideas online by answering five key questions:
- What is your idea (max 400 characters)?
- Who is your target customer (max 300 characters)?
- Who are your biggest competitors (max 300 characters)?
- What makes your idea different (max 300 characters)?
- Why will this idea be successful (max 300 characters)?
Ideas are reviewed by experts and voted on by the public. Starting October 30th, your ideas will also include a place to vote via social media. The top ten teams will present their ideas for cash prizes.
Sample Submission: Professor Davis’ Healthy Water. This is an example of an idea for the UM-Dearborn Business Idea Pitch.
What is your idea?
The healthiest thing that people aren’t getting enough of: water. The twist is that each bottle’s label contains a health tip and a healthy food recipe. Health tips include easy exercises to do at work or suggestions on how to replace typical snacks with healthy food. The recipes are easy-to-make breakfast, lunch, or dinner ideas.
Who are your biggest competitors?
There are lots of bottled waters (Dasani, Absopure, Evian), but some have added chemicals and flavors. There are also products like soft drinks and energy drinks, but those are geared toward people who want flavors or a pick-me-up in their drink and are often high in calories. None have recipes.
What makes your idea different?
It is pure and clean, while other drinks have colors, flavors, and chemicals added. The recipes and health tips remind us drinking enough water is important to our health. Less than half of Americans drink the recommended 8 glasses of water each day, this idea adds knowledge while doing that.
Why will this idea be successful?
It will be marketed as an easy way to make a big impact on your health. Drinking clean water is a luxury and a way to save calories in every meal. The health tips and recipes make it even easier to live healthy every day.