Accio Energy makes 2nd go at top Accelerate Michigan prize

Of all the semi-finalists at this year's Accelerate Michigan Innovation Competition, Accio Energy might be the start-up that causes casual observers to do the biggest double take.

The Ann Arbor based alternative energy firm that is reinventing wind energy production took top prize in the Alternative Energy category of last year's Accelerate Michigan Innovation Competition. It also closed on a $1.9 million seed capital round earlier this year. So why is an established, growing, well-funded start-up back for more at this year's competition? The $500,000 first prize is awful enticing.

"As a young company, capital is always important," says Jen Baird, CEO of Accio Energy. "We want a chance at the top prize."

And then there is the chance for even more funding outside the prize money. One of the main goals of the competition is to introduce Michigan-based start-ups with investors, ranging from local angels to out-of-state venture capitalists. Those connections could turn into valuable investments for a company like Accio Energy.

"It's certainly a good opportunity for us to connect with investors from across the country," Baird says. "Our first seed round was an angel round. Our next round will be a venture capital round."

Source: Jen Baird, CEO of Accio Energy
Writer: Jon Zemke

Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.