Commercialization time for start-ups in the automotive mobility space can take 2 to 3 times that of the start-ups in the Innovation / Consumer Electronics space. From 1910 to 2010 typical times have dropped from 16 years after patent award to 14. The Global Automotive & Mobility Innovation Challenge (GAMIC) cuts this in half.
The GAMIC organizing committee is made up of auto industry executives with close ties to decision makers at all major OEMs and many Tier 1 suppliers as well as experienced entrepreneurs. Building on such a rich network, GAMIC offers over $300,000 in auto industry professional guidance – from business development to IP support to PR, as well as assistance with key high-level industry connections. These benefits are the invaluable key to accelerated commercialization by opening doors that the cash prizes by many other competitions simply cannot.
A number of GAMIC alumni are already in production as 2nd tier suppliers; others have licensed their technology to major Tier 1 suppliers, received development contracts from industrial partners, and/or received government funding for further product development. All semi-finalists receive exposure to multiple Midwest-US and Canadian angel groups.
GAMIC is pleased to announce that it is open for applications for its 10th annual competition.
Who should apply? Companies that fit the following criteria:
- Innovation space: Automotive and/or mobility applications
- Innovation type: physical (mechanical, chemical, electrical), and/or digital product/systems, testing, manufacturing or other enabling innovations
- Revenue: Less than $500,000 in funding or revenue to date
- State of innovation advancement: Developed a proof-of-concept and/or a working model
- State of business planning: Developed an initial business plan covering the technology and a go-to-market plan
- Location: Willing to present in-person or via video conference at quarter-finals in Northern California; Southeast Michigan; or Ontario, Canada
You can find more information on the applicable technology sectors for GAMIC and application instructions at GAMIC website. Due date is 15 October 2017.
For more information, please visit GAMIC 10th Annual Competition.