For Immediate Release: Ann Arbor, Mich., September 16, 2003

Fourth Great Lakes Entrepreneur's Quest Launches In September
Michigan Entrepreneurial Education Program Launches New Two-Tiered Training and Competition Structure

The Great Lakes Entrepreneur's Quest (GLEQ) today announced the launch of the fourth annual Quest, featuring a new two-tiered structure to deliver tailored training and business development support to entrepreneurs.

The 2003-04 Quest will offer existing and potential Michigan entrepreneurs year-long educational opportunities, networking and two separate business plan competitions with total prize awards exceeding $175,000. Founded in 2000, the Great Lakes Entrepreneur's Quest (www.gleq.org) is a nonprofit 501(c)(3) educational program designed to accelerate the formation of high-growth companies across Michigan. Anyone who lives, works or attends school in Michigan can participate in the competitions and free training programs. Those who make the Quest access free training, networking, coaching and capital to help transform a business idea into a company. Teams can enter one of the competitions and compete with other entrepreneurs for prizes including financial rewards and professional services vital to early-stage businesses.

This year's Quest will be held over two seasons, a Fall Cycle and a Spring Cycle, and includes two paths for the educational sessions and the business plan competition. For early stage entrepreneurs, the GLEQ now offers a New Business Ideas path to be held in both the Spring and Fall Cycles. For more advanced companies, the GLEQ is offering an Emerging Companies path, which includes semi-finals in the Fall Cycle and finals in the Spring Cycle. Both Paths include multiple training sessions provided in Michigan's East, West and North regions during the course of the Quest.

Deadline for fall registration is Noon, Thursday, November 13, 2003. The New Business Ideas path, including training sessions, will run twice a year: approximately three months in the fall and then again in the winter, with winners announced in December and May. While anyone may attend the training sessions, eligible teams competing in the New Business Ideas path will be focused on developing a five-page executive summary of their concept.

The Emerging Companies path will include training and development during the Fall Cycle and will conclude with the selection of finalists in December. Finalist teams will then work over the Spring Cycle to complete a full business plan and make their "elevator pitch" at the Quest's May final awards event. Teams that do not qualify for the finals will be able to continue participating in training, networking and other GLEQ sponsored activities. The first set of 2003 Quest free training sessions has been scheduled. A kickoff and explanation of the new Quest format and executive summary requirements will be held in each region:

Additional information is available
at www.gleq.org or by calling 734.615.4423.

Contact: Anne Duncan
Project Manager, Great Lakes Entrepreneur's Quest
abduncan@bus.umich.eduabduncan@bus.umich.edu
734-615-4423
Or
Don Hunt, Ryan McGrath
Lambert, Edwards & Associates, Inc.
mail@lambert-edwards.com
616-233-0500