I recently found out about this very interesting Accelerate Michigan Innovation Competition. I wish we could do this in Oregon. And you probably wish you could do it in your state too.

If I read this right, the Accelerate Michigan Innovation Competition is going to give half a million dollars in real money to the Michigan company that wins its grand prize at the November event. Unlike most of the major MBA business plan competitions, this is apparently real money, not investment for equity, not in-kind services. I’m impressed.

They also have prizes for students, and even a $5,000 prize for the best tweet related to business plans. Not bad — if you’re in Michigan.

I’ve heard of other states offering prize money in competitions like this, but this one looks like the richest I’ve seen. I checked at bizplancompetitions.com, and it looks like Alabama has something like this, but for much less money. And I think I’ve heard of one in Nevada, but I didn’t find it at that site, which is the best I know for business plan competitions.

If you are in Michigan, click the links. There are deadlines for submissions, and, if I were you, I wouldn’t want to miss them.

OK Oregon? What are we going to do about this?

And you, in your state? Shouldn’t you have this too?

Tim BerryTim Berry

Tim Berry is the founder and chairman of Palo Alto Software and Bplans.com. Follow him on Twitter @Timberry.