ANN ARBOR ? The Accelerate Michigan Innovation Competition is back for a second year and again offering $1 million in cash prizes to student-lead and business start-up companies in the state, or willing to move to the state. Top prize is $500,000. Company deadline is Aug. 10.

The student competition, with a deadline of Sept. 30, is open to any undergraduate or graduate student enrolled for at least 2 classes in a Michigan public or private university or college for the fall 2011 semester. Top prize is $25,000.

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.

Grand Prize ? $500,000

First Runner Up ? $150,000

Best of Sector (9 prizes) ? $25,000/each sector

Encore Award (Over 55 entrepreneur) ? $25,000

People?s Choice ? $10,000

Tweet Award ? $5,000

Eligibility

The Accelerate Michigan Innovation Competition is open to any early stage business ? from any-where in the world.

It?s looking for companies that have a strong technology or concept and serious growth potential.

Applicants should have some or all of the attributes below.

Technology

Innovative and proven (past proof of concept)

At a commercial stage

Companies will select to compete in one of 9 sectors:

Advanced Materials

Advanced Transportation

Alternative Energy

Defense & Homeland Security

Information Technology

Life Science

Medical Devices

Next Generation Manufacturing

Products and Services

Finance

Potential to achieve $10 plus million in annual revenue in the next five years

Have raised no more than $2 million

Please note: US Companies need to supply their Employee Identification Number. Prize winners must have the winning business registered and located in the state of Michigan. For winners not currently located in the state of Michigan to receive the award you must relocate your business to Michigan.

Student Overview ? Deadline September 30

Any undergraduate or graduate student enrolled for at least 2 classes in a Michigan public or private university or college for the fall 2011 semester.

Grand Prize ? $25,000

First Runner up ? $15,000

Second Runner up ? $10,000

For more information, AccelerateMichigan.Org

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