Accelerate Michigan Innovation Competition Announces VerteCore as $500,000 Grand Prize Awardee
Invest Detroit and Sponsors Award $1 Million in Cash and In-Kind Prizes to Fuel the Growth of Michigan-Based Startups
FOR IMMEDIATE RELEASE – Detroit, MICH. – Nov. 13, 2018 – Accelerate Michigan Innovation Competition (AMIC), a program of Invest Detroit’s ID Ventures, announced VerteCore was awarded the $500,000 grand prize at its ninth annual pitch competition. GreenMark Biomedical Inc. and Shoptelligence were announced the second and third prize awardees. ID Ventures and its top sponsors Ann Arbor SPARK, along with Invest Michigan, Belle Michigan, William Davidson Foundation, and Michigan Economic Development Corporation (MEDC), among others, awarded a total of $1 million in cash and in-kind prizes to eight innovative startups that were selected from 24 semi-finalists. Nearly 400 top investors, entrepreneurs and community leaders attended the event at the newly iconic Lexus Velodrome.
“The innovation that we’ve seen at this year’s pitch competition is a testament to the extraordinary talent in Michigan,” said Martin Dober, senior vice president and managing director of ID Ventures. “We are honored to recognize this year’s winners and support the growth of startups that represent the future of Michigan.”
2018 AMIC Awardees are:
Grand Prize – $500,000: VerteCore
Second Prize – $100,000: GreenMark Biomedical Inc.
Third Prize – $50,000: Shoptelligence
Woman-Led Prize – $150,000: SpellBound
Caregiver Prize – $25,000: MyNurse
Social Enterprise Prize – $20,000: Derq
Hardware Prize – $10,000: S3D Precision Dispensing
People’s Choice Prize – $10,000: VerteCore
AMIC enables entrepreneurs to showcase their companies and meet one-on-one with fellow entrepreneurs, investors, business acceleration resources, and experts in their specific sector during carefully curated meetings. This year, AMIC was proud to facilitate 240 meetings with more than 100 entrepreneurs, investors and subject matter experts.
Since its launch in 2010, grand prize awardees of AMIC have hired over a 1,000 people and attracted more than $650 million in additional investment. Previous awardees include Orbion Space Technology (2017), SPLT (2016), Banza (2015), SkySpecs (2014), VNN (2013), Algal Scientific (2012), Celsee (2011), and Armune BioScience (2010).
For more information about AMIC and its sponsors, please visit www.acceleratemichigan.com. Share the news by using the event hashtag #AccelerateMICH and follow @AccelerateMICH on Twitter and Facebook.
About Accelerate Michigan Business Competition
Accelerate Michigan Innovation Competition, a program of ID Ventures, is a competition that supports Michigan’s entrepreneurial ecosystem by offering entrepreneurs the opportunity to showcase their companies to investors while building connections with entrepreneurs, business acceleration resources, and experts in their sector during carefully curated individual meetings. For more information, visit www.acceleratemichigan.org.
About ID Ventures
ID Ventures, the venture team of Invest Detroit, supports promising Michigan-based high-tech startups through investment capital and programs that strengthen the startup ecosystem. As a collaborative investor and community partner, our approach is to provide inclusive access to resources for Michigan entrepreneurs with high-growth potential.
EntryPoint for ID Ventures