Torch Hybrid Boat Co. was named a recipient of a Dare to Dream grant from The Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the University of Michigan's Ross School of Business.
The company, which designs and builds boats with hybrid engines, received a $500 venture-shaping grant.
Dare to Dream awarded funding totaling $34,500 based on business concepts and feasibility studies submitted to panels of judges.
The Dare to Dream program, a hallmark of the Zell Lurie Institute, distributes as much as $100,000 per academic year to University of Michigan students. Grants are administered in three funding levels that build upon one another. They start with venture-shaping grants of $500 for students with a promising business idea, followed by assessment grants of $1,500 for students to conduct a feasibility study, and integration grants of as much as $10,000 to complete a full business plan and develop an investor pitch.