This week, the Greater Detroit area hosted the Accelerate Michigan Innovation Competition, an international business competition designed to highlight Michigan as a robust and vibrant venue for innovation. The competition showcased the best and brightest businesses to the investment community in order to foster engagement and economic growth.
In addition to the traditional business competition, Accelerate Michigan hosted a business idea contest for student-led teams from throughout the state of Michigan. Student teams were judged on content, creativity structure, and delivery.
CARt, a University of Michigan team, received first place for 2015. The team created a platform to provide reliable transportation for low-income individuals to get to and from supermarkets for healthy food options. CARt was awarded $15,000 in prizes to help launch their venture.
The Broke App, an application developed by a team of UMSI students, took home fourth place for their innovative business model. Their app allows banks to reach and teach college students how to build wealth for the future based on their current spending.
This recognition emphasizes how University of Michigan students are bringing fresh ideas and new energy to the growing entrepreneurial ecosystem. For more information on the Accelerate Michigan competition please visit: http://acceleratemichigan.org/.