Accelerate Michigan Innovation Competition 2010 - Company

Website

http://www.acceleratemichigan.org

Competition Organizer

The Business Accelerator Network for Southeast Michigan and the New Economy Initiative for Southeast Michigan

Who's Eligible
Open to any early stage business from anywhere around the world that has at least 3 full-time members but has not yet raised over $1M of investment and does not have more than $1M in annual revenue.  In order to receive the prize money, businesses need to be resident or agree to move headquarters to Michigan. Apply in any one of nine sectors, $100 application fee.
Important Dates

The registration period runs from September 1, 2010 to October 13, 2010. Selected semi-finalists must submit a 12-page business plan by November 15, 2010 and a slide presentation by December 3, 2010. Semi-finalists will present on December 10, 2010 and the finals will take place on December 11, 2010 with a 5-minute elevator pitch.

Competition Prizes

 

Grand Prize                      $500,000

First Runner Up                $150,000

Best of Sector                  $  25,000

Encore Award                  $  25,000

People's Choice              $  10,000

Tweet Award                    $   5,000

 

 

 

Other Info

This competition targets mid-to-late-stage business start-ups with potential to generate an immediate impact on Michigan’s economy, by being able to get to $10 million in revenue in the next 5 years in a market size of $500 million or above. 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.

 

 

 

Competition News & Updates
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