2024 CEN OPEN EVENT: Pitch Competitio
Background
As the US and the world economy continues to recover post-Covid, more startups begin to emerge as entrepreneurs start their own businesses. However, it is not always easy to navigate challenges associated with startups, especially for minority entrepreneurs within the greater Detroit area. At China Entrepreneur Network we believe in the great minds of the students at the Stephen M. Ross School of Business and the value our students can bring to these start-ups in need. A pitch competition format where students can form teams and pitch to a panel of judges as well as to the entrepreneurs themselves is our solution to the ongoing challenges these start-ups are facing.
Why?
CEN hopes to aid struggling entrepreneurs, especially minority startup entrepreneurs, and to provide students with an opportunity to solve real-life problems that entrepreneurs face in their industry. Part of CEN’s mission is to become a bridge, connecting students and entrepreneurs and creating win-win situations for both sides. Students will be able to gain experience with business planning, strategy, pitching to judges, and potentially win a cash prize. Start-ups who opt to participate in our competition will be connected to students/faculty at Ross and discover insight into possible solutions for their business which may help them step their best foot forward in the future.
Task/Goal
- Sign up to participate in the pitch competition via a google form.
- Participants are allowed to work individually or in groups of 2-3 people.
- The participants will be given a list of companies to choose from, and they will be provided with a small background of each company and the areas that they are struggling in with their respective start-up (ie. management, supply chain, marketing, etc.)
- With that information, participants will select their top 2 picks for their startup of interest for analysis, and we will assign startups based on a first come first serve basis. Multiple people/groups can be assigned to the same company, but we hope to assign at least one group to each of our participating companies to provide them with the aid that they need.
- Over the course of 1 week, the teams will conduct research and analysis on methods to solve their issue. (ie. If it is an issue with suppliers, they could possibly find potential suppliers for the companies)
- On the day of the event, the participants will present their solutions to a panel of judges and any attendees. Each participant will be given 5-7 minutes to present their solution to
7th Annual China Business Challenge hosted by China Entrepreneur Network
