DETROIT ? After an intense review process by the judge?s panel, 54 semifinalists have been selected to compete for more than $1 million in cash and in-kind prizes in the fifth annual Accelerate Michigan Innovation Competition.
Businesses from as far as the United Kingdom, India and throughout the United States, applied this year?s competition. Applications were to be submitted under one the following 8 sectors – Advanced Materials, Advanced Transportation, Alternative Energy, Information Technology, Life Science, Medical Devices, Next Generation Manufacturing, Products and Services.
?The Accelerate Michigan semi-finalists selected represent some of the most forward-thinking companies with true potential for success,? said President and CEO of the Michigan Economic Development Corporation, Michael Finney. ?The competition showcases some of the most innovative entrepreneurs, providing them a home to successfully launch in Michigan.?
Designed to bring together later stage entrepreneurs with local, national and international investors, Accelerate Michigan companies have raised more than $123 million in funding and created more than 600 jobs in Michigan.
?Much of Michigan?s economic rebound is being fueled by the enthusiasm of these entrepreneurs and the eco-system that supports them from their inception,? said Dave Egner the Executive Director of the New Economy Initiative. ?There is no doubt that startups thrive in Michigan and we welcome the positive impact these companies make to create an entrepreneurial and innovation culture and improve our economy.”
2014 Accelerate Michigan Innovation Competition Semifinalists are: A2B Bikeshare, Micro-LAM Technologies LLC, AIRS MitoStem Akervall Technologies Inc., Mountain Labs, AlertWatch Movellus Circuits, AlSentis Neuvokas Corporation, AMACS Nowza, ArborWind, LLC, Optimal Process Technologies, Beet Analytics Technology, Ornicept Biophotonic Solutions, PHASIQ, Inc., Black Pine Engineering, Piezonix Brio Device, LLC, Promethient, LLC, Cribspot Saras, LLC, DataSpeaks Health Solutions, Sentinl Detroit Materials, Shock EngineWorks Inc., Elegus Technologies, Sisu Global Health, Exo Dynamics, SkySpecs Flipsi, Ltd., Snapsure FreeStride, Therapeutics Solartonic LLC, GENOMENON, Soletics GPro System, Stony Creek Laboratories, GS Engineering, Supported Intelligence LLC, HauntPay SurClean Inc., IBUR BioSystems, Tetra Discovery Partners, Inventev, The Mackinac Technology Company, Levanto Financial, TurtleCell, LogiCoul Solutions, Upland Nanotech, Memloom Inc., White Pine Systems LLC.
Semi-finalist investor pitches will begin on November 4-6 with a pitch competition at the Westin Book Cadillac in downtown Detroit. Accelerate Michigan 2014 culminates on November 6 at Orchestra Hall in Detroit where a $500,000 Grand Prize and 10 additional awards totaling $500,000 in cash and in-kind prizes will be presented.
The Accelerate Michigan Innovation Competition is an international business competition celebrating its fifth year of connecting later-stage entrepreneurial companies with national and international investors. The competition showcases the best and brightest businesses to the investment community in order to foster engagement and economic growth. Made possible by grants from the New Economy Initiative and the Michigan Economic Development Corporation?s 21st Century Jobs Fund as well as a significant amount of corporate and community support, the Accelerate Michigan Competition has had an immediate and positive impact on the state?s economy, bolstering and advancing Michigan?s entrepreneurial eco-system.
