Warren, Michigan — Nov 28, 2012 — Coliant Corporation won the top prize for the Next-Generation Manufacturing Sector in the third annual Accelerate Michigan Innovation Competition last Thursday night, November 15, 2012 at Orchestra Hall in Detroit.
"Michigan is fortunate to have people like David Egner, Executive Director of the New Economy Initiative. David fuels Michigan job growth by supporting Michigan's small businesses with a multitude of mentoring programs and supplied a $750,000 grant for this year's competition," said John Swiatek, CEO of Coliant Corporation. "David's idea for this competition is to expose local entrepreneurs and startups to the global venture and angel capital community," continued Swiatek.
This year's event drew 300 applicants from around the U.S. and Canada. After reviewing the written business plans, the competition narrowed to 53 semifinalists who made oral pitches November 14th and 15th at Westin Book Cadillac in Detroit. On Wednesday afternoon, John Swiatek pitched for ten minutes and then answered questions from six judges regarding Coliant's business model. Coliant's combined score qualified the company as a top ten finalist competing for the $500K grand prize. The competition then moved to Orchestra Hall, where each finalist pitched for five minutes on stage in front of a global investor audience. All ten companies took just over one hour to complete this final round of the intense competition.
The Accelerate Michigan Innovation Competition is North America's largest business competition. It is an international business contest aimed at fostering entrepreneurial growth throughout Michigan's vibrant business community. The competition is focused on two tracks: International and U.S. businesses relocating to Michigan and Michigan collegiate students. This year's prize money was awarded to twelve companies and three student entrants.
Read More about the Accelerate Michigan Competition here.
Coliant Corporation was founded in 2004 and is based in Warren, Michigan. Although focused initially on the motorcycle market, its Powerlet product line has applications in numerous industries and on various power sport vehicles. Coliant designs, manufacturers, and distributes rugged electrical accessories that are intuitive and universal adaptive. To date the company has sold over 300,000 products in 65 countries. Powerlet is a subsidiary of Coliant Corporation and has dealer and distribution outlets throughout the USA, UK, Europe, Asia, and Australia.
NOTE TO EDITORS: For additional information visit Powerlet's PR website, or call Powerlet at (877) 752-7835.
Powerlet, the Powerlet logo, RapidFire and Luggage Electrix are trademarks of Coliant Corporation. Other company and product names may be trademarks of their respective owners.