Accelerate Michigan Innovation Competition Now Accepting Applications for Startups to Win up to $1,000,000 in Cash & Prizes
Renowned Pitch Competition Unveils New Format to Help Companies Better Connect with Investors; Companies Must Register to Apply by August 15
For Immediate Release - Detroit, MI - July 16, 2018 - Accelerate Michigan Innovation Competition (AMIC), a program of Invest Detroit’s ID Ventures, today announced it is accepting applications for its ninth annual pitch competition on November 13 at the newly iconic Lexus Velodrome. The competition features the best and brightest seed-stage startups and introduces them to angel investors and venture capital firms while awarding $1,000,000 in cash and prizes. Companies must register by August 15 to be eligible to apply. Application packages are due on August 31.
New Pitch Format Builds Stronger Connections Between Entrepreneurs and Investors
While funding is a critical element to launching and scaling a business, building a strategic network of experienced investors, mentors and subject-matter experts is equally essential for entrepreneurs to grow their company. 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. The new format allows startups more individual time with investors and high-profile mentors as well as the chance for investors to pitch their firm. Following the meetings, there will be a reception and large seated dinner open to the public featuring presentations from the semi-finalists of the competition.
“Our vision has always been to make the Accelerate Michigan Innovation Competition the premier event for entrepreneurs to showcase and celebrate their world-class ideas that are driving innovation in Michigan,” said Patti Glaza, senior vice president and managing director of Invest Detroit Ventures. “The pitch competition has achieved significant momentum year-over-year and we are just getting started. We look forward to providing an invaluable experience for entrepreneurs where they can get in front of key stakeholders, form partnerships, and take their business to the next level – regardless of whether they take home the grand prize.”
Pitch Competition Funds Innovative High-Growth Businesses in Michigan
Since its launch in 2010, grand prize winners of AMIC have hired over a 1,000 people and attracted more than $550 million in additional investment. Previous winners include Orbion Space Technology (2017), SPLT (2016), Banza (2015), SkySpecs (2014), VNN (2013), Algal Scientific (2012), Celsee (2011), and Armune BioScience (2010).
“The Accelerate Michigan Innovation Competition has provided a critical stepping stone for many successful startups that are on the path to revolutionizing industries,” said Chris Rizik, CEO of Renaissance Venture Capital Fund and member of Invest Detroit’s board. “We’re excited to see the talent and innovative companies at this year’s competition.”
All companies must complete the registration form by August 15 to apply for AMIC. After registering, companies must submit their application package by August 31. Semi-finalists will be announced on October 3, 2018. If your organization is interested in sponsoring the 2018 competition, please contact Randy Hyde, Invest Detroit’s Senior Vice President of External Relations, at Randy.Hyde@InvestDetroit.com.
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.