|By Business Wire||
|August 12, 2013 09:49 AM EDT||
The chance at more than $1 million in cash prizes will soon run out for post patent start-ups as North America’s largest business plan competition, the Accelerate Michigan Innovation Competition (AMIC), will close its international business applicant process on August 14, 2013.
The Accelerate Michigan Innovation Competition is a global contest aimed at fostering entrepreneurial growth within Michigan’s resurging technology innovation community. The competition runs in two tracks – international businesses and Michigan collegiate students – and is currently accepting applications for start-ups and early-stage entrepreneurs world-wide who are eligible for submission under one of the following categories: Advanced Materials, Advanced Transportation, Alternative Energy, Information Technology, Life Science, Medical Devices, Next Generation Manufacturing and Products and Services.
More information on the competition can be found by visiting www.acceleratemichigan.org
On the heels of Detroit’s recent bankruptcy filing, the Accelerate Michigan Innovation Competition continues to grow and gather interest from across the globe. In fact, 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 $500K 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.”
Business Competition Milestones & Key Dates
- August 14, 2013 – Company Applications Close (eligibility & rules available here)
- September 26, 2013 - Student Applications Close
- September 11, 2013 – Semi-finalists Announced
- November 12-14, 2013 – Onsite Competition Held
- November 14, 2013 – Winners Announced
“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,” said Martin Dober, Senior Vice President of Entrepreneurship & Innovation at Michigan Economic Development Corporation. “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.”
About Accelerate Michigan and Its Partners
About Accelerate Michigan Innovation Competition
The Accelerate Michigan Innovation Competition is an international business competition offering more than $1 million in cash prizes, plus thousands in in-kind awards. 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 the Michigan Economic Development Corporation 21st Century Jobs
About The New Economy Initiative
Ann Arbor SPARK
Macomb OU Incubator