$1 million in Cash Up for Grabs to the Business and Student Winners of the Accelerate Michigan Innovation Competition on November 13-15
DETROIT, June 21, 2012 /PRNewswire/ -- Applications are now being accepted for the 2012 Accelerate Michigan Innovation Competition at www.acceleratemichigan.org. The Accelerate Michigan Innovation Competition, one of North America's largest business competitions, will award more than $1 million in cash winnings, plus in-kind awards to later stage, entrepreneurial businesses, with potential to have an immediate and positive impact on Michigan's economy.
"The Accelerate Michigan Innovation Competition is an exciting collaboration between Business Leaders for Michigan, the Michigan Economic Development Corporation, the New Economy Initiative and Ann Arbor SPARK that showcases Michigan's growing entrepreneurial support network, world class academia, and ongoing commitment to helping businesses grow. The competition fuels innovation-based business growth by showcasing the best and brightest new business concepts to potential investment capital to help foster their growth within Michigan," said Paul Krutko, president and CEO of Ann Arbor SPARK.
The Competition has two tracks; the international business competition as well as a Michigan collegiate competition. Companies world-wide who have a technology that is past prototype are eligible to submit in one of eight key areas of opportunity, including alternative energy, advanced materials, IT, next generation manufacturing, life science, medical devices, advanced transportation as well as products & services. For the student track, any undergraduate or graduate student enrolled in at least two classes in a Michigan public or private university or college for the fall 2012 semester is eligible. Student participants can be individuals or teams who submit an innovative business plan of with their application.
The application deadline for companies is August 15. Student applications are due September 27.
The Accelerate Michigan Innovation Competition will conclude with the semi-final investor pitches on November 14-15 at the Westin Book Cadillac. The Competition Finals and Gala Awards celebration will be held the evening of November 15 at Orchestra Hall in Detroit.
About Accelerate Michigan Innovation Competition
The Accelerate Michigan Innovation Competition is an international business competition offering more than $1 million in cash awards, plus thousands in in-kind awards. In addition to the prizes from the competition, entrepreneurs will have access to Michigan's robust entrepreneurial ecosystem, which includes wet labs, incubators, and access to talent from the world's leading research universities. 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.
About Business Leaders for Michigan
Business Leaders for Michigan, the state's business roundtable, is dedicated to making Michigan a "Top Ten" state for job, economic and personal income growth. The organization is composed exclusively of the chairpersons, chief executive officers, or most senior executives of Michigan's largest companies and universities, which contribute nearly 25% of the state's economy and provide over 320,000 jobs in Michigan, generate over $1 Trillion in annual revenue and serve over 135,000 students. Find out more at: www.businessleadersformichigan.com
About the Michigan Economic Development Corporation 21st Century Jobs Fund
Funds for the Accelerate Michigan Innovation Competition were provided by the 21st Century Jobs Fund, a Michigan Strategic Fund program designed to accelerate the growth and diversification of Michigan's economy. The Michigan Economic Development Corporation ("MEDC") a public-private partnership between the state and local communities, provides administrative support for the 21st Century Jobs Fund. The MEDC markets Michigan and provides the tools and environment to drive job creation and investment. For more information on the 21st Century Jobs Fund initiative, visit www.MichiganAdvantage.org.
About The New Economy Initiative
The New Economy Initiative for Southeast Michigan (NEI) is an innovative philanthropic effort to accelerate the transition of metro Detroit to an innovation-based economy that expands opportunity for all. Ten national, regional and local foundations have committed $100 million to this unprecedented eight-year initiative, including the Community Foundation for Southeast Michigan (Detroit), the Max M. and Marjorie S. Fisher Foundation (Southfield, Michigan), the Ford Foundation (New York), the Hudson-Webber Foundation (Detroit), the W.K. Kellogg Foundation (Battle Creek, Michigan), the John S. and James L. Knight Foundation (Miami), The Kresge Foundation (Troy, Michigan), the McGregor Fund (Detroit), the Charles Stewart Mott Foundation (Flint, Michigan), and the Skillman Foundation (Detroit). The participating foundations are leading the implementation and governance of the Initiative. The Community Foundation for Southeast Michigan, which initiated the collaborative, is serving as its administrative home. For more information, please visit http://neweconomyinitiative.cfsem.org/.
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