Ann Arbor SPARK gets $750K for Accelerate Mich Innovation Competition

Wednesday, August 25, 2010 | Source: Concentrate

Ann Arbor SPARK is getting ready to break a lot of ice - between entrepreneurs and investors. During the Big Chill hockey game later this year they'll be hosting the Accelerate Michigan Innovation Competition.

The business plan competition will highlight local resources available to small businesses and spotlight southeast Michigan's entrepreneurial ecosystem. It will also expose local entrepreneurs and start-ups to venture capitalists, angel investors and executive talent from around the world who will be in Ann Arbor for the hockey game between the University of Michigan and Michigan State University at Michigan Stadium on Dec. 11.

"When you start to look at the information and resources that have been cultivated over the last few years, we expect to have a lot of high-quality start-ups here," says Michael Finney, president and CEO of Ann Arbor SPARK.

The Business Accelerator Network for Southeast Michigan (Ann Arbor SPARK, TechTown, Automation Alley and Macomb-OU INCubator) is working to put together what it calls the world's largest business plan competition. It will feature $1 million in cash awards, services, staffing and software up for grabs. It is open to start-ups and entrepreneurs from both inside and outside of the state that are willing to set up shop in Michigan.

"The future of Michigan is based on its entrepreneurs and innovators," says David Egner, executive director of the New Economy Initiative, which supplied a $750,000 grant to Ann Arbor SPARK for the event. "They are the people that will drive growth in Michigan for the next few decades."

The competition will focus on second-stage businesses and student concepts with long-term viability. It will be divided into nine categories, including advanced materials, advanced transportation, alternative energy, homeland security and defense, information technology, life science, medical devices, next generation manufacturing and products and services. Students attending any Michigan university or college can submit their business concepts in a separate category. For more information about the Accelerate Michigan Innovation competition, click here.

Source: David Egner, executive director of the New Economy Initiative and Michael Finney, president and CEO of Ann Arbor SPARK
Writer: Jon Zemke