DETROIT--(BUSINESS WIRE)--This year at the 5^th annual Accelerate Michigan Innovation Competition, three student companies were awarded a combined $15,000 in cash prizes to help launch their ventures in Michigan. In addition to the student competition, which included 31 companies across multiple industry sectors, Accelerate Michigan also hosted 51 businesses that competed for $1 million in cash and in-kind prizes. More than 250 businesses applied to be part of the competition.

The $7,000 winner of the 2014 student competition was EV Airway Innovations, a product presented by Eric VanMiddendorp of Grand Valley State University that reduces the risk of injury from unintentional extubations and improves patient comfort during recovery using air tubes. The product has several patented features, such as a novel way of securing the breathing tube and how the device fits on the patient’s face.

The second and third place winners included HeelSecret, presented by Kiri Chapman from the University of Michigan, and Mach Hockey, presented by Alex Von Mach and Everet Bommarito of Michigan State University. Both companies were awarded a combined $8,000.

“It’s important that we continue encouraging and cultivating the entrepreneurial spirit in colleges and universities across the state of Michigan,” said Lauren Bigelow, Executive Director of Accelerate Michigan. “Pitching a business idea not only showcases the incredible work being done by our students, it also prepares them for future business endeavors. It’s common for our student competitors to come back the next year and compete in our business competition.”

Accelerate Michigan is the largest prize competition in the state, attracting investors, entrepreneurs and experts in the innovation sector. This year’s $500,000 grand prize winner was Sky Specs LLC and the second prize of $100,000 went to Cribspot.

About Accelerate Michigan and its Partner Organizations

The Accelerate Michigan Innovation Competition (AMIC) is an international business competition celebrating its fifth year of connecting later-stage entrepreneurial companies with national and international investors. The competition showcases the best and brightest businesses to the investment community in order to foster engagement and economic growth. Made possible by grants from the New Economy Initiative and the Michigan Economic Development Corporation’s 21^st Century Jobs Fund as well as a significant amount of corporate and community support, the Accelerate Michigan Competition has had an immediate and positive impact on the state’s economy, bolstering and advancing Michigan’s entrepreneurial eco-system. For more information and November 4-6 event registration, please visit www.acceleratemichigan.org.

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About the Michigan Economic Development Corporation 21st Century Jobs FundVisit www.MichiganAdvantage.org

About The New Economy InitiativeVisit www.neweconomyinitiative.org