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From idea to reality: The path to creating an impact

It’s fitting that a competition meant to raise Michigan’s profile was inspired by one of the most Michigan of all symbols: University of Michigan‘s big block M logo.

The big M came on a screen during an investor presentation a long way from home, in California. Sitting in the audience was Dave Egner, executive director of the New Economy Initiative and president of the Hudson-Webber Foundation.

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Accelerating Innovation: Impact of competition is shown in numbers, ideas

1,400 applications. 15 countries. $4 million in prizes. 47 winning companies. 14 winning student teams. 74 participating angel and venture capital investors.

Amid all the numbers illustrating the impact the Accelerate Michigan Innovation Competition has had in its first four years, it’s easy to forget the actual products supported through the event.

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Fundamentals of investment: Michigan’s venture capital history

The existence of a competition like Accelerate Michigan Innovation Competition is proof of sorts that Michigan’s venture capital community has come of age.

Any thriving regional venture scene is going to have a respected competition in its mix of offerings and assets, industry folks say. Besides drawing publicity, the competitions also play a crucial role in the venture funding spectrum by offering very early-stage companies a chance to get capital.