Accelerate Michigan Innovation Competition Announces 50 Companies as Semi-Finalists in the World's Largest Business Competition

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The Accelerate Michigan Innovation Competition

Nov 11, 2010, 05:30 ET

$1 million in cash winnings and in-kind services draws worldwide interest

DETROIT, Nov. 11, 2010 /PRNewswire-USNewswire/ -- The Accelerate Michigan Innovation Competition, an international business competition designed to highlight Michigan as a robust and vibrant venue for innovation and business opportunity announced today that it has chosen its 50 company semi-finalists. These semi-finalists will compete for more than $1 million in cash winnings and in-kind awards of services, staffing and software.

The Accelerate Michigan Innovation Competition received nearly 600 entries, which were split evenly between the business and student portions of the competition. Entries were received from every region of the United States including Arizona, California, Florida, Massachusetts, Minnesota, and Texas. Companies from British Columbia, Ontario, Switzerland and the West Cape of Africa also submitted entries.

"It is exciting to see that the Accelerate Michigan Innovation Competition generated worldwide interest, indicating that companies from all over see the unique opportunity that the state presents to grow a business," said Ken Rogers, executive director of Automation Alley. "Michigan's integrated entrepreneurial ecosystem of incubators, accelerators, business networks, and research institutions position the state as a destination for innovation."

Nearly 25 percent of the company entries, were from people age 55 and older, and the top three industries represented among the submissions were: products and services, information technology and life sciences. This representation of applicants correlates to the large number of displaced Michigan workers seeking other avenues and opportunities to branch out independently.

"Michigan's public research universities, including Wayne State University, are eager to collaborate with these growing companies in order to continue to drive economic growth and development in the state," said Allan Gilmour, interim president of Wayne State University. "We hope that all the companies involved with the Accelerate Michigan Innovation Competition will tap the intellectual capital of all three public research universities."

Semi-finalist companies include:
Accio Energy – Alternative Energy
Advanced Battery Concepts, LLC – Alternative Energy
Advanced Battery Control – Advanced Transportation
Angott Medical Products, LLC – Medical Device
ApoLife, Inc. – Life Science
Arbor Photonics, Inc. – Next Generation Manufacturing
Armune Bioscience, Inc. – Life Science
Compendia Bioscience, Inc. – Medical Device
CSquared Innovations, LLC – Next Generation Manufacturing
Current Motor Company – Advanced Transportation
Discera – Products and Services
Eco Products, LLC – Advanced Materials
ElectroDynamic Applications, Inc. – Advanced Materials
ENRG Power Systems – Advanced Transportation
ePack – Next Generation Manufacturing
Epsilon Imaging, Inc. – Medical Device
Evigia Systems, Inc. – Defense and Homeland Security
Fanaroo – Products and Services
Focus Power – Defense and Homeland Security
FreeStride Therapeutics, Inc. – Life Science
GraviKor – Defense and Homeland Security
Hygieia, Inc. – Medical Device
ImBio – Medical Device
Inmatech, Inc. – Advanced Transportation
Innovative Surgical Solutions, Inc. – Medical Device
Ix Innovations – Products and Services
LED Optical Solutions – Alternative Energy
Life Magnetics – Life Science
MatchRX.com – Information Technology
Mayaterials, Inc. – Advanced Materials
Monarch Antenna, Inc. – Products and Services
NextCAT, Inc. – Alternative Energy
NextGen Metabolomics, Inc. – Life Science
North Coast Industrial Imaging – Next Generation Manufacturing
OcuSciences, Inc. – Medical Device
Pixel Velocity, Inc. – Defense and Homeland Security
Power Panel – Alternative Energy
POWERleap – Alternative Energy
ProNAI Therapeutics, Inc. – Life Science
RealBio Technology, Inc. – Life Science
RetroSense Therapeutics – Life Science
Reveal Design Automation, Inc. – Information Technology
Sensors, Inc. – Alternative Energy
ShadePlex, LLC – Alternative Energy
Spinal Ventures – Medical Device
Sproxil, Inc. – Information Technology
The Mackinac Technology Company – Advanced Materials
TherapyCharts, LLC – Information Technology
Vestaron Corporation – Life Science
Vir(Sn) – Medical Device

Semi-finalists will be narrowed down to 10 finalists just prior to the culmination of the competition on Saturday Dec. 11, 2010. The Accelerate Michigan Innovation Competition concludes with the University of Michigan vs. Michigan State University "Big Chill" hockey game at Michigan Stadium.

The New Economy Initiative for Southeast Michigan granted Ann Arbor SPARK $750,000 to launch the Accelerate Michigan Innovation Competition on behalf of the Business Accelerator Network for Southeast Michigan, which is composed of four of the region's key business accelerators – Ann Arbor SPARK, Automation Alley, Macomb-OU INCubator, and TechTown. Joining the Accelerate Michigan Innovation Competition as premier sponsors is Accelerate Michigan.

For more information about the Accelerate Michigan Innovation Competition, visit www.acceleratemichigan.org, or connect with the competition via Facebook, Twitter, and LinkedIn.

About the Business Accelerator Network for Southeast Michigan

The Business Accelerator Network for Southeast Michigan is a region-wide network for building and retaining new business in southeast Michigan. Composed of the region's four key business accelerators – Ann Arbor SPARK, Automation Alley, Macomb-OU INCubator, and TechTown, the organization works collaboratively to share best practices, host events focused on addressing issues and goals that impact southeast Michigan, support business plan development, and leverage funding to grow business in the region. The Business Accelerator Network for Southeast Michigan is supported through a $3 million grant from the New Economy Initiative for Southeast Michigan.

About The New Economy Initiative

The New Economy Initiative for Southeast Michigan (NEI) is an innovative philanthropic effort to accelerate the transition of metro Detroit to an innovation-based economy that expands opportunity for all. Ten national, regional and local foundations have committed $100 million to this unprecedented eight-year initiative, including the Community Foundation for Southeast Michigan (Detroit), the Max M. and Marjorie S. Fisher Foundation (Southfield, Michigan), the Ford Foundation (New York), the Hudson-Webber Foundation (Detroit), the W.K. Kellogg Foundation (Battle Creek, Michigan), the John S. and James L. Knight Foundation (Miami), The Kresge Foundation (Troy, Michigan), the McGregor Fund (Detroit), the Charles Stewart Mott Foundation (Flint, Michigan), and the Skillman Foundation (Detroit). The participating foundations are leading the implementation and governance of the Initiative. The Community Foundation for Southeast Michigan, which initiated the collaborative, is serving as its administrative home. For more information, please visit http://neweconomyinitiative.cfsem.org/.

About Accelerate Michigan

The mission of Accelerate Michigan is to create a distinctive partnership between Business Leaders for Michigan (BLM) and Michigan's University Research Corridor (URC). By uniting Michigan's largest businesses and universities together, Accelerate Michigan aims to place Michigan among the "Top Ten" states for accelerating economic transformation and cultivating entrepreneurism based on mutually beneficial values, investments and activities. http://www.acceleratemichigan.com/

SOURCE The Accelerate Michigan Innovation Competition