Accelerate Michigan Deadline Wednesday
DETROIT (WWJ) -- The chance for entrepreneurs to win more than $1 million in cash prizes ends Wednesday -- the entry deadline to this year's Accelerate Michigan Innovation Competition.
The Accelerate Michigan Innovation Competition is a global contest aimed at fostering entrepreneurial growth within Michigan's robust technology innovation community. The competition runs in two tracks -- international businesses and Michigan college and university students -- and is currently accepting applications for start-ups and early-stage entrepreneurs world-wide.
Entrants' business ideas must fall into one of the following categories: advanced materials, advanced transportation, alternative energy, information technology, life sciences, medical devices, next generation manufacturing, and products and services.
More information on the competition can be found by visiting www.acceleratemichigan.org.
Semifinalists in the competition will be named Sept. 11. They'll compete in presentations for the money Nov. 12-14 at the Westin Book Cadillac and Orchestra Hall in downtown Detroit.
Since its 2010 inception, the competition has drawn applications from more than 900 businesses world-wide, including India, Switzerland, Vietnam and the United Kingdom, as well as more than 1,000 collegiate entrepreneurs. Additionally, investors from more than 80 North American and international venture firms have participated in the annual competition.
"The Accelerate Michigan Innovation Competition has made a huge impact on Algal Scientific's progress this year," said Paul Horst, chairman of Algal Scientific, the winner of last year's Accelerate Michigan Innovation Competition. "The $500,000 grand prize has allowed us to fast track our research and business development. We've broken world records in our production process, funded successful field research and increased our pipeline of potential partners that literally circles the globe. The value of winning the contest was more than just the money we received – the recognition has gone a long way in attracting potential investors and providing credibility to global customers. We are extremely grateful to the supporters of Accelerate Michigan including the New Economy Initiative, Ann Arbor Spark and the Michigan Economic Development Corporation."
Added Martin Dober, MEDC senior vice president of entrepreneurship and innovation: "There are so many wonderful things happening within our community that cannot be overshadowed by the recent bankruptcy filing, in particular, at the start-up level. "The Accelerate Michigan Innovation Competition, as well as other similar programs, will continue to play vital roles in the resurgence of our great state, especially for Detroit The positive energy and commitment these hard working individuals have for building better and brighter future for Michigan is truly impressive – as a community, we're ready to face the challenges ahead of us and we will overcome."
The Accelerate Michigan Innovation Competition is a collaborative effort of the Business Accelerator Network for Southeast Michigan, the New Economy Initiative of Southeast Michigan and Accelerate Michigan. For more information, visit www.acceleratemichigan.org.
