UM: Business

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The Detroit Free Press reports that two Michigan students — Allen Kim and Daniel Pearson — were chosen as finalists in a national competition by Entrepreneur Magazine. Kim, a UM senior, created an online rental store for baby clothing. Pearson, a Central Michigan senior, introduced a hybrid smart card that technologically combines multiple credit cards. Doug Neal, managing director of UM’s Center for Entrepreneurship, said that such interest in entrepreneurship may be inspired by Michigan’s economy: “As economic conditions deteriorate and unemployment rises, people take those opportunities to strike out on their own. They end up taking charge of their own destiny as opposed to having things happen to them.” [Source]