Registration is Now Open for the Accelerate Michigan Student Idea Competition

DETROIT, Sept. 16 /PRNewswire/ -- The Business Accelerator Network for Southeast Michigan, a new region-wide network for building and retaining new business in southeast Michigan, today announces that the Accelerate Michigan Student Idea Competition is now open for registration.

Open to any undergraduate or graduate student attending a Michigan college or university in the fall of 2010, the Accelerate Michigan Student Idea Competition will award $50,000 to the top business ideas and concepts submitted by Michigan students. All participants are required to submit a one-page business idea. Semifinalists will submit a three minute video pitch and formulate a fifteen minute in-person pitch. The deadline for initial applications is midnight, eastern time on Friday, October 22.

"The Accelerate Michigan Student Idea Competition presents an excellent opportunity to showcase homegrown ideas straight from the state's future leaders," said University Research Corridor Executive Director Jeff Mason. "These ideas will not only serve as a catalyst to strengthen, transform and diversify the state's economy, but will reinforce the commitment from every college and university in the state of Michigan to educate a workforce focused on innovation."

"The University of Michigan is excited to support  a competition dedicated solely to business ideas and concepts from Michigan college students," said Dr. Mary Sue Coleman, president of the University of Michigan, host of the competition's final events. " The Accelerate Michigan Student Idea Competition provides students with an outlet to present their ideas, and encourages their drive and motivation for shifting Michigan's economic landscape."

The Accelerate Michigan Student Idea Competition is a component of the larger Accelerate Michigan Innovation Competition which  uncovers the best and brightest new business concepts from local and global entrepreneurs, and exposes those opportunities to potential investment capital and fostering their growth within Michigan. Slated to be the world's largest business competition with more than $1 million in cash awards, plus in-kind awards of services, staffing and software, the Accelerate Michigan Innovation Competition targets early stage businesses with proven technology and potential to generate an immediate impact on Michigan's economy.

The New Economy Initiative for Southeast Michigan has granted Ann Arbor SPARK $750,000 to launch the Accelerate Michigan Innovation Competition on behalf  of the Business Accelerator Network for Southeast Michigan, 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 partners for event are the University Research Corridor (Michigan State University, the University of Michigan and Wayne State University) and Business Leaders for Michigan.

The competition culminates with a gala awards brunch in Ann Arbor on Saturday, December 11, 2010. The Accelerate Michigan Innovation Competition concludes with the University of Michigan vs. Michigan State University "Big Chill" hockey game at Michigan Stadium.  

For more information about the Accelerate Michigan Student Idea Competition including complete rules and eligibility criteria, 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 new 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 will work 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 three year, $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 the University Research Corridor

Michigan's University Research Corridor (URC) is an alliance of the University of Michigan, Michigan State University, and Wayne State University with a vision to contribute toward the transformation of Michigan's economy.

The URC is among the top R&D clusters in the nation (compared with regions of the USA such as Route 128 in Boston, Research Triangle in North Carolina, and Silicon Valley in Northern California) for producing patents, new business, and graduates with high-tech related degrees needed in growing new fields. In addition, the three universities serve as a magnet in helping to attract new business to the state of Michigan.

SOURCE Business Accelerator Network for Southeast Michigan