MBA students at Michigan State University’s Broad College of Business brought their best entrepreneurial ideas to this year’s second annual Broad MBA Business Plan Competition held Saturday, March 23, at the Wharton Center. The competition brought together Full-Time and Weekend MBA students to test their business acumen, receive expert feedback, and further develop skills for entrepreneurial ventures.
On-SITE® Oil Change Company— a business plan to bring the oil change service directly to the consumer — won a team of Weekend MBA students first place and $5,000. The team included Michael Casey, Jay De Veny, Bradley Schlesener, Chris Tuckfield, Matt Boland, and Drew Janney. It aims to transform the automotive fast lube industry by bringing the oil change bay to the customer rather than the customer wasting time at the local repair shop or quick lube station. Their motto is: “Change your oil, not your schedule.” ON-SITE® Oil Change Company’s proprietary trucks provide customers the ultimate in car maintenance convenience at competitive prices and the highest quality.
“The event encapsulated the Michigan State WMBA program experience and provided invaluable feedback and exposure to venture capitalists and entrepreneurs,” said team member Jay De Veny. “We have all been flattered by the positive feedback and support that we have received with regard to the new venture idea.”
In second place, a team of first-year Full-Time MBA students won $2,500 in funding for their concept SEVA. Meaning “to help” in Hindi, SEVA aims to improve efficiency in India’s agricultural supply chain. Team members included Gaurav Badkar, Pianpian Lan, Jaimin Patel, Matt Pentis, and Samir Raval.
“These are the kinds of opportunities that truly differentiate a Broad MBA from other MBA brands,” explains Zsuzsanna Fluck, Center for Venture Capital, Private Equity, and Entrepreneurial Finance director and associate professor of finance. “While other business schools may have competitions, the Broad College does a nice job of tying together various facets of the Broad community. Students have been requesting more focus on entrepreneurial activities, and the MBA Business Plan Competition will serve as a cornerstone as we ramp up other opportunities for our students.”
Students presented to distinguished MSU alumni judges at the event, including Christine Gibbons (BA Accounting ’83), COO and president of HistoSonics; Anne Hiller (BA General Business Administration ’78), VP operations for Doctor.com; Tim Kennedy (BA General Business Administration ’70, MBA Finance ’72), president and COO (retired) of PKWare; and John Webb, founder of Quantum Reach. The final-round judges then gave advice to the students from their own entrepreneurial/venture capital experiences as part of a speaker panel. In addition, Forrest Carter, interim director of the Institute of Entrepreneurship, and marketing senior Josh Leider, whose team recently won the undergraduate business competition at Broad and the South by Southwest startup competition with their concept TempoRun, encouraged students to seek out entrepreneurship resources for students at MSU.
The competition was hosted by the Center for Venture Capital, Private Equity, and Entrepreneurial Finance in collaboration with the Institute of Entrepreneurship and MBA program at the Broad College.