Updated: Tuesday, October 13th, 2009

The University of Michigan's Samuel Zell and Robert H. Lurie Institute for Entrepreneurial Studies is preparing its students for successful business careers through its Wolverine Venture Fund.

Students in the business program decide where $3.5 million in funds will go and have just contributed to a new project by Direct Flow Medical.

The medical device company, which has received financing from the business school once before, will use the student-led team's investment to develop a catheter-based, percutaneous-delivered prosthetic aortic valve.

The institute created the Wolverine Venture Fund ten years ago. Since 2005, student-led teams have invested in more than 18 companies from industries such as information technology, life sciences and alternative energy.

This latest investment aims to "provide the critical funds that Direct Flow Medical needs" while giving students "real-world investment experience in a large and fast-growing market sector," said Tom Kinnear, director of the institute and the Wolverine Venture Fund.

Undergrad and graduate programs may help business students and professionals gain similar firsthand experience that could help them increase their career potential. PayScale.com, a research company, says that average salaries for holders of MBA degrees ranged from $73,510 to $171,583 in 2008, depending on the field, position and years of experience.

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