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MSUFCU to award $25,000 for winning startup idea
Posted: September 19, 2012 - 3:55 PM
Area entrepreneurs could get a real boost from a new contest from Michigan State University Federal Credit Union. The startUP Challenge will award up to $25,000 to an entrepreneur in the tri-county with a winning business plan.
“A lot of our members are MSU students and they are the most entrepreneurial generation and we believe in supporting all our members to achieve financial security and their dreams,” says Executive Vice President/Chief Operating Officer for MSUFCU, April Clobes. “This program is designed to help individuals looking to start their own business to have some assistance in achieving their dreams.”
In order to win, participants must complete an application, business plan and video pitch. The top five entries will have the opportunity to present their business ideas to the startUP Challenge committee, which will be comprised of local experts. According to Clobes, the committee will be open to business ideas from a wide array of industries.
“We wanted to be appealing to all the business startups from creative to scientific,” Clobes says. “The prize is substantial enough to attract individuals that could manufacture something, be a scientific patent for food or medications, or to create an art studio. The possibilities are endless and we are excited to see all the ideas.”
Individuals in need of assistance with their entry or business plan are encouraged to contact LEAP for help. MSUFCU is also introducing the startUP Loan Fund, which allows entrepreneurs to apply for loans up to $15,000.