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Adam Borden and Nick Cucinelli.
  Adam Borden and Nick Cucinelli

Ross Students Win Elevator Competition

4/8/2005 --

DuraPower team earns cash and services for business plan.

ANN ARBOR, Mich.—Two students from the Stephen M. Ross School of Business at the University of Michigan won first place at the sixth annual Wake Forest MBA Elevator Competition held April 2 in Winston-Salem, N.C.

Nick Cucinelli and Adam Borden received cash and professional services (legal and marketing) totaling $50,000 for their business plan for DuraPower, a company with a compact, portable fuel cell that uses propane and is designed for outdoor enthusiasts. They were coached and sponsored by the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies.

In addition to cash and services, Cucinelli and Borden also will meet with one or more venture capital firms, with the possibility of getting their business plan funded.

The competition included 25 teams of MBA students from across the nation. Each team pitched its business plan to venture capitalists during a pair of two-minute elevator rides, with five finalists selected to make more detailed presentations to judges.

Other finalists included students from Duke, Arkansas, Northwestern and Brigham Young.

The event is hosted by the Angell Center for Entrepreneurship at the Babcock Graduate School of Management at Wake Forest University and is sponsored by Wachovia. Other sponsors include Eno River Capital, Grant Thornton, !idealliance, Mullen, Small Business Technology Development Center and Womble Carlyle.

In 2004 the Zell Lurie Institute sponsored and coached 33 leading students on 12 teams to represent the Ross School of Business at intercollegiate business plan, case and venture capital competitions across the United States.

For more information, contact:
Heather Thorne
Phone(734) 936-8421