They began reviewing a second group of applications this spring. The learning opportunities involved with the application process, she says, have been invaluable for Student Committee members as well as the entrepreneurs seeking financing. Even those who aren't selected for investment gain valuable knowledge that will benefit their future business efforts. We are serving as an educational resource and as a financial catalyst for new businesses germinating within the University of Michigan community. The Wolverine Venture Fund works closely with the University's Technology Management Office.
Students play an essential role in the review and selection process.
Will Johnson, a second-year MBA student and head of the fund's Student Committee, says participation in the process proved to be a significant learning experience. It's great hands-on experience. Student Committee members handle all aspects of the due diligence process including reference checks on the applicants' management teams, interviews with industry analysts to determine market demand and valuation analysis. It is the long-term hope of the Alumni Society Board of Governors that the beneficiaries of fund investment eventually will provide class projects and internships for Business School students, not to mention future employment opportunities. Based on the breadth of applications last fall, Bantel and Shelby expected future rounds to be equally impressive.