DETROIT – Algal Scientific Corp., creator of an algae-based technology for animal food supplements, won the top prize of $500,000 at the third annual Accelerate Michigan Innovation Competition, part of $1 million in prizes handed out Thursday night.
Algal Scientific survived three days of pitches and presentations by 50 early stage companies as well as 23 more submitted students at Michigan colleges and universities. The finals were held at the Book Cadillac Hotel and Orchestra Hall in downtown Detroit.
Other winners were:
First runner up, $100,000, nanoMAG LLC, a Livonia company that is developing and commercializing next-generation, high strength, lightweight nanomagnesium biocompatible materials with applications in orthopedic medicine. President Stephen LeBeau has 35 years of experience in the areas of manufacturing and materials processing and commercial market development of advanced materials.
Second runner up, $50,000, InPore Technologies Inc., an East Lansing company that is developing advanced membranes for applications like water filtration and flame retardance.
Advanced materials industry award, sponsored by Masco Corp., $25,000, InfiChem Polymers LLC, a Sterling Heights company commercializing a proprietary chemical process for the recycling of polyurethane scrap that is now destined for landfills.
Advanced transportation industry award, sponsored by Ford Motor Co. $25,000, Eco-Fueling LLC, a Saline company which has designed, built and road tested a retrofit system that achieves a 15 percent fuel economy improvement for existing diesel engines.
IT industry award, sponsored by Comcast, $25,000, Ideomed, a Grand Rapids developer of chronic condition management member engagement systems for insurance companies.
Alternative energy award, sponsored by DTE Energy, $25,000, Ornicept Inc., which gives wind energy developers, natural resource managers, regulators and airfield controllers up-to-date information on bird movement.
Life science award, $25,000, BioSavita, a Plymouth company which is developing new and less expensive methods of making monoclonal antibodies, the next generation of blockbuster drugs.
Medical device award, $25,000, Breonics, a company developing technology to make more kidneys available for transplantation.
Next generation manufacturing award, $25,000, Coliant Corp., a Warren-based developer of rugged electrical accessories for the motorcycle and powersports industries.
Products and services award, $10,000, Protean Payment Inc., an Ann Arbor developer of a universal payment, loyalty and gift card called Echo.
People?s choice award, $10,000, Retia Medical LLC, which makes monitors for high-risk patients in the operating room and intensive care units.
Among the student startups, meanwhile, first prize went to Kymeira Advanced Materials, a developer of advanced ceramics out of the University of Michigan; second prize to Lemon Peel, a developer of a noise cancellation headband so hospital patients can get a good night?s sleep, developed by students at Hope College; and third place to SkySpecs LLC, a UM-based developer of unmanned aerial vehicles for infrastructure inspection.
Other universities participating in the startup competition included Central Michigan University, Kettering University, Lake Superior State University, Michigan State University, Northwestern Michigan College, Wayne State University and Western Michigan University.
Accelerate Michigan is sponsored by the University Research Corridor, the research collaboration of Michigan State University, the University of Michigan and Wayne State University, and Business Leaders for Michigan, the statewide successor CEO organization to Detroit Renaissance.
