A2: Business

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The Detroit Free Press reports on the launch of the Accelerate Michigan Innovation Competition, which will be managed by Ann Arbor SPARK. The contest offers over $1 million in cash prizes to entrepreneurs who vow to invest the money in the Michigan economy. The winning business proposal will be given $500,000, though the contest offers additional awards to students and companies from specific industry sectors. “A valid criticism of the entrepreneur ecosystem,” says Michael Finney, CEO of Ann Arbor SPARK, “is that we allow too many of our really good ideas to make their major commercial impact someplace other than here.” [Source]