WMU students get a shot at $100K to turn big ideas into real businesses

Editor’s Note: This story is part of Momentum: The people and companies shaping what’s next, a weekly series that explores new ventures, founder support, and the resources powering entrepreneurship and small businesses across seven counties in Southwest Michigan. This project is sponsored by Southwest Michigan First. All photos included in this story are courtesy.

KALAMAZOO, MI — Our future is in the hands of our youth, and an upcoming business event is ready to test that maxim.

Young entrepreneurs at Western Michigan University are getting a powerful opportunity to turn bold ideas into real businesses — and potentially walk away with significant funding to make it happen.

Thanks to a partnership with a Kalamazoo-based capital investment organization, WMU students are being invited to pitch innovative ideas to professionals who can help nurture them into thriving enterprises. Above and beyond that, two of the best ideas will be cultivated and awarded a total of $100,000 in financial support.

“Cultivate 269” is the name of a program being sponsored by WMU and capital investment firm Kalamazoo Forward Ventures. It is actively recruiting WMU student submissions through Feb. 27.

“The goal is to really begin to highlight the local talent that we have,” says Dwayne Powell, chief operating officer and managing partner of Kalamazoo Forward Ventures. “Western is known for the experiential training and development of its students, and we want to really begin to increase the entrepreneurial opportunities for our students, for them to be able to be inspired and to dream and to not have to graduate from college to become a successful entrepreneur.”

Jeff Breneman, WMU’s vice president for government relations and external partnerships, says, “Cultivate 269 reflects Western’s focus on building human capital in a way that strengthens individuals and fuels Michigan’s economic vitality. For us, a degree is a pursuit of purpose where students are empowered to learn and where an experience-driven education leads to a meaningful career. This pitch competition is a clear expression of that commitment.”

The program is reaching campus-wide for students in all courses of study.

“It doesn’t matter if you’re an English student or an engineering student or whatever program you’re involved in,” Powell says. “We’re hoping to galvanise the entire campus to be creative and find ways that they can be entrepreneurial, coming from whatever perspective they may have.”

“269” is a catchy, West Michigan-relevant reference related to both the local zipcode and how the competition will proceed. Of all those who apply, nine students will be selected to pitch their ideas at a high-energy event in April. Each of them will have six minutes to present. And of those, two will be selected as the best. Judges will select one, and the public will select the other. The student whose idea gets top marks from the judges will receive $75,000. The student who receives the most votes from the public will receive $25,000.

Concepts are to be posted on the Cultivate 269 website. The general public may see them there and vote for their favorites.

The awards are intended to serve as seed money to help get the ball rolling on the prospective ideas, perhaps to create a prototype of the products that are envisioned.

The deadline for submissions is Friday, Feb. 27. The nine finalists are to be announced on March 20. Pitch night is April 10, from 5 to 7:30 p.m., in the ballroom of the WMU Student Center.

The nine finalists will receive training and development. Each will work with a consultant to hone their technical presentations and pitches.

Marcel Fable Price, director of Platform and Programming for Kalamazoo Forward Ventures, says that in its first year, the program is on track to provide the largest non-dilutive prize in the state of Michigan. That means the winner will not have to give up any equity or ownership stake in his or her enterprise.

“For a pilot year, that is a massive statement,” Price says. “We are building the on-ramp for student entrepreneurs to scale without giving up a single percentage point of their company.”

The spirit of the program resonates with various members of Kalamazoo Forward Ventures, a $50 million capital investment firm launched in the fall of 2024 by six African-American men, most with educational ties to WMU. The firm was founded to capitalize, empower, and grow unique startup companies owned by underrepresented founders.

“Many of us are graduates of Western and have all different levels of connectivity, and we see them (WMU students) as a big part of our innovation pipeline,” Powell says. “We want to make sure that we are putting a big investment into our local university and to really focus on inspiring our entrepreneurs of today, not even of tomorrow, but our entrepreneurs of today.”

Breneman says, “We are excited and proud to partner with alumni who are investing in the next generation of Bronco entrepreneurs.”