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Accelerate Michigan


Accelerating Michigan's Economic Transformation Into A "Top Ten" State

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Accelerate Michigan


Accelerating Michigan's Economic Transformation Into A "Top Ten" State

Moving Michigan Forward

We are a partnership between Business Leaders for Michigan (BLM) and Michigan's University Research Corridor (URC). We believe in Michigan's future. Through this alliance, Michigan's largest businesses and universities are working together to accelerate our state's economic transformation and make Michigan a "Top Ten" state for economic growth. See how we plan to help Michigan move forward. 

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About Us


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About Us


Individually We Are Strong, But Together We Can Transform Our State


The Strategic Alliance

The mission of Accelerate Michigan℠ is to create a distinctive strategic alliance between Business Leaders for Michigan (BLM) and Michigan’s University Research Corridor (URC). By uniting research universities and business leaders, Accelerate Michigan℠ aims to place Michigan among the “Top Ten” states for accelerating economic transformation and cultivating entrepreneurism based on mutually beneficial values, investments and activities. According to the Michigan Turnaround Plan, Michigan has lagged the nation in job and economic growth for the past generation; the alliance will strive to accelerate Michigan back to the top.

Accelerate Michigan℠ will be managed by existing BLM and URC staff through a strategic alliance.

 

 


Business Leaders for Michigan, the state’s business roundtable, is dedicated to making Michigan a "Top Ten" state for jobs, personal income and a healthy economy. The organization is composed exclusively of the chairpersons, chief executive officers, or most senior executives of Michigan's largest companies and universities.  Our members drive over 25% of the state’s economy, provide over 325,000 direct and 820,000 indirect jobs in Michigan, generate over $1 Trillion in annual revenue and serve nearly one half of all Michigan public university students. Find out more at: www.businessleadersformichigan.com

The University Research Corridor is an alliance of Michigan’s three leading research institutions: Michigan State University, the University of Michigan and Wayne State University. The URC’s research laboratories produce hundreds of patents each year, and its hospitals develop innovative medical treatments that save lives. Through leveraging the intellectual capital of the public research universities, we help to create a vibrant economy, attract knowledge and business, educate the workforce and plant the seeds for new industries of tomorrow.


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Innovation In Michigan


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Innovation In Michigan


A State Of Innovation


Michigan has always been an innovator. And it will be innovation that helps us accelerate through our next economic transformation. Michigan is at or above its peers in intellectual property development:

  • Top 5 state for industrial R&D
  • University R&D spend at or above average
  • R&D conversion (patents & new ventures per dollar spent) also in line with competitors
  • Conversion of university innovation into new business start-ups at or above many peers

Through the Accelerate Michigan℠ alliance, the BLM and the URC can work together to lead, leverage and focus these strengths. We encourage mutually beneficial endeavors that are a win-win for universities, businesses, venture capitalists and our state.


20013 University Research Corridor Economic Impact Study

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This study documents the impact the URC universities have in Michigan as well as their performance converting innovation into economic impact.

2013 Michigan Economic Competitiveness Benchmarking Report

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This report documents Michigan's competitiveness relative to top-performing states on job and economic growth, including innovation & entrepreneurism factors.

Michigan's Innovation Analysis & Strategy

2010 Business Leaders For Michigan University-Industry Partnership Benchmarking Analysis

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These graphs summarize Michigan's innovations compared to other states. Following these graphs is our model for economic transformation.

 

 

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This analysis, conducted by McKinsey & Company, documents how Michigan performs relative to other innovation centers in the U.S. for converting innovation into economic growth.

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Our Work


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Our Work


Together, These 3 Pillars Of Work Can Help Accelerate Economic Growth


In order to support a new and stronger economy for our state, Accelerate Michigan℠ constructed three pillars to build upon. The first pillar is based on changing our state’s culture, the second is based on increasing the availability of capital and the third is based on increasing collaboration. Each pillar is composed of three major actions. Together, these pillars will be the drivers of economic growth.

Pillar 1:
Championing Entrepreneurship & Innovation

Pillar 2:
Growing Capacity To Scale Ideas

Pillar 3:
Catalyzing Clusters Of Innovations

Actions:

1) Launch statewide entrepreneurship competitions

  • One of nation’s largest business plan competitions
  • Nine sectors – prizes up to $500,000
  • Funding from foundations, BLM & URC
  • Opportunity to connect business and ideas

2) Promote innovation matchmaking

  • Survey BLM companies to identify technology and research needs
  • “Pull” best URC research that matches needs
  • Lead to full-time Business Services Exchange
  • Sponsor ongoing series of Technology Showcase programs

3) Develop an entrepreneurship education strategy

  • Identify gaps and needs
  • Benchmark best practices
  • Design strategy

 

Actions:

1) Create a University Commercialization Fund (Early Stage)

  • A sustainable $3.0 million annual fund designed to improve Michigan’s very low rankings for early stage capital (pre-seed stage)

2) Establish Venture Capital

  • Designed to take Michigan from #20 to #10 in venture capital activity through 3:1 leverage ratio of invested capital
  • This fund will be used to attract VC talent

3) Develop an Angel Investment Strategy

  • Based on input from Michigan Angels and benchmarking best practices, a strategy will be developed to better connect angel investors with entrepreneurs

Actions:

1) Align efforts to grow high-potential Michigan clusters of innovation

  • High-potential clusters will be based on where the following intersect:
    • Federal R&D spending plans
    • Major innovation trends
    • BLM needs
    • Michigan strengths
    • URC R&D strengths

2) Increase advocacy for federal cluster investments

  • Primary focus will be on advocating for federal investments to accelerate the growth of innovation clusters

3) Form Michigan Science & Innovation Council

  • Composed of URC and BLM R&D VPs
  • Identify trends and likely impact on Michigan
  • Identify opportunities for economic growth

 


A Michigan-based fund of funds that supports the growth of venture capital in Michigan while serving as a bridge between Michigan’s emerging innovation company community and its strong industrial and commercial base.

An international business competition designed to bring together later stage entrepreneurial companies with local, national and international investors.


Timeline Of The Alliance's Work

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Contact Us


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Contact Us