Accelerate Michigan Innovation Competition 2010 - Company

Description

 Select one of 9 sectors. $100 application fee.

Website

http://www.acceleratemichigan.org

Competition Organizer

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

Submission Date

10-13-2010

Business Plan Submission Date

11-15-2010

Awards Date

11-30--0001

Total Prize Cash (US Dollars)

$1,000,000

Competition Category
  • Business - Local U.S.
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.