Get ready for 2nd annual Accelerate Michigan Innovation Competition

Wednesday, May 18, 2011 | Source: Concentrate

The Accelerate Michigan Innovation Competition will return for its second year this fall, bringing more than $1 million worth of seed capital cash and prizes for start-ups that plan to grow in the Great Lakes State.

"We're just excited to be back for a second year," says Lauren Bigelow, executive director of the Accelerate Michigan Innovation Competition. "We are excited to become a bigger part of Michigan's pipeline of start-ups."

The competition works to showcase the best of the best start-ups in Michigan, along with attracting other out-of-state companies to move to the state. More than $1 million in cash and prizes were awarded last fall, including $500,000 to University of Michigan spin-off Armune Biosciences and $150,000 to Ann Arbor-based Arbor Photonics. This year's competition will feature the same prize pool and structure.

Organizers are also pointing out that there is more at stake than just the seed capital prizes. Contestants will received valuable feedback from business experts, and get a chance to make their pitch to angel investors and venture capitalists from around the world. This year, organizers are working to have one-third of the people evaluating the start-ups to come from the coasts or outside of the U.S.

"We're looking to get a bigger critical mass of people looking at our deal flow," Bigelow says.

The event will be held on Nov. 16-17 at the Eagle Crest Conference Center in Ypsilanti. The gala awards and dinner will be held at Henry Ford Museum on Nov. 17. Interested start-ups can submit applications starting on June 6, with a deadline of Aug. 10. The deadline for student-led start-ups is Sept. 21. For information, click here.

Source: Lauren Bigelow, executive director of the Accelerate Michigan Innovation Competition
Writer: Jon Zemke

Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.