MEMStim takes first prize in the Michigan Business Challenge
MEMStim is committed to improving the standard of patient care in neurostimulation. Congratulations, Angelique!
Angelique Johnson (MSE PhD EE ’07, ’11) and her new company, MEMStim, took top honors and prize money in the 2011 Michigan Business Challenge and Eugene Applebaum Dare to Dream Grant program for U-M startups. Ms. Johnson partnered with MBA students Christopher Cadotte and Andrew Smith in the competition. She studied under Prof. Ken Wise, and conducted research as a member of the Center for Wireless Integrated Microsystems (WIMS).
MEMStim make customizable micro-fabricated stimulators. The company plans to sell MEMS electrode leads to medical device companies for integration into their targeted nerve stimulation devices. Ultimately, the company is committed to improving the standard of patient care in neurostimulation. The team intends to use the award money to quantify regulatory risks and further develop a prototype of the device.
The team recieved $20K for the Pryor-Hale award for Best Business, $5,000 for the Williamson Award for Outstanding Business and Engineering Team, $2,000 for the Outstanding Presentation Award from the Michigan Business Challenge. In addition, they received a $1,500 assessment grant from the Dare to Dream Grant Program for the purpose of establishing the feasibility of their business. They followed up this win with a second prize win at the San Diego State University Venture Challenge.
Another team from EECS, Reveal Design, earned $2,000 for Outstanding Presentation. This company develops and licenses a formal verification software tool to chip design firms. Participating in the contest were Zaher Andraus, CSE research fellow, and his team members Vimal Bhalodia (MBA ’11) and Matthew Neagle (MBA ’11). The team followed this with a win at Carnegie Mellon University’s McGinnis Venture Competition, on the Technology Track.
The Michigan Business Challenge is a four-month, multi-round contest designed to help students move their ideas from rough concepts to concrete business plans. More than 50 teams competed this year. The Dare to Dream Grant Program provides additional funds to help students develop their business plan and work toward launching their company.
“Zell Lurie Institute Awards $106,300 to University of Michigan Students Through the Michigan Business Challenge and Dare to Dream Startup Grant Program” – PR Newswire
“UM Gives Students $106,300 In Startup Grant Programs” – CBS Detroit