First round deadline: Abstract and executive summary due
- Competition Organizer
Business Accelerator Network for Southeast Michigan
- Submission Date
- Business Plan Submission Date
- Awards Date
- Total Prize Cash (US Dollars)
- Competition Category
- Business - Local U.S.
- Business - Global
- Who's Eligible
Open to any early stage business from anywhere in the world. Companies should be innovation-based or technology-led and must have significant growth potential. Companies who have raised more than $2 million in revenue are not eligible. In order to receive the prize money, businesses need to be resident or agree to move headquarters to Michigan. Enter in one of 9 sector categories.
- Important Dates
First round abstracts and executive summaries are due on August 10, 2011. Semi-finalists must submit 12-page business plans on September 28, 2011. The business plan competition finals, consisting of 5-minute elevator pitches, will take place on November 16 & 17, 2011. Winners will be announced at the Awards Gala & Dinner on November 17.
- Competition Prizes
Grand prize: $500,000
First runner-up: $150,000
Best of Sector: $25,000 each (9 prizes)
Encore Award: $25,000
People's Choice: $10,000
Tweet Award: $5,000
- Other Info
The Accelerate Michigan Innovation Competition has been organized to promote entrepreneurship and the development of early stage companies by encouraging submission of plans of original business concepts that will lead to the development of new growth businesses.
Business plans will be judged based on creativity and innovation involved in the business concept, likelihood of business success, stage of development, team's knowledge of the product/service and its market, growth potential and capability to become market leader, sustainability of the business and competitive advantage as well as the rationality of the financing strategy.