DETROIT – Applications are will now be accepted to compete in the $1 million Accelerate Michigan Innovation Competition, a program of Invest Detroit’s ID Ventures.
The 10th annual pitch competition on November 13 will be held at Detroit’s recently renovated State Savings Bank. Semi-finalists will pitch their ideas to seasoned judges.
“We are thrilled to reach such a critical milestone and celebrate the astounding growth of entrepreneurship in Michigan over the last 10 years,” said Martin Dober, senior vice president and managing director of ID Ventures. “Our state is home to many innovative startups and we’re proud to offer a one-of-a-kind event that provides not only funding but relationship-building opportunities and connections to businesses acceleration resources that will help entrepreneurs succeed and usher in another decade of startup support.”
Since its launch in 2010, AMIC semi-finalists have created over 1,300 jobs and attracted more than $900 million in additional investment. Previous winners include VerteCore (2018), Orbion Space Technology (2017), SPLT (2016), Banza (2015), SkySpecs (2014), Varsity News Network (2013), Algal Scientific (2012), Celsee Diagnostics (2011), and Armune BioScience (2010).
For 10 years, AMIC has fueled the growth of early-stage startups in Michigan—offering mentorship, visibility, capital and access to investors. According to the 2019 MVCA Research Report, only 10 percent of capital invested in Michigan-based startups last year was in the seed stage, highlighting the need for more capital and support for companies at their earliest stages of growth. AMIC addresses these challenges by engaging with Midwest investors and experts and shining a light on Michigan-based startups while providing critical funding resources. In addition to capital attraction, the event helps to build a network of support, resources, and expertise for participating entrepreneurs to further their growth and success, while also ensuring representation from female and minority entrepreneurs.
All companies must complete the registration form by August 16 to apply for AMIC. After registering, companies must submit their application by August 31. The 24 selected semi-finalists will be announced on October 14.
To register and apply, visit www.acceleratemichigan.org.