Pocketnest financial planning app one of 24 Detroit startup companies selected to pitch for $1MM in investment from Accelerate Michigan
ANN ARBOR, Mich.—Pocketnest, the only free comprehensive financial planning tool, is selected as a semifinalist in the 2019 annual Accelerate Michigan Innovation Competition, a program of Invest Detroit’s ID Ventures, to compete for $550K in funding.
Competing against 300 other applicants, Pocketnest was selected as a semifinalist for its innovative ideas, strong customer traction and strategic business development plans to grow the business in Michigan.
“The selected semifinalists showcase the momentum of Michigan’s entrepreneurial ecosystem over the past decade,” said Martin Dober, senior vice president and managing director of ID Ventures. “Each year, we see more incredible talent and companies that are transforming the way legacy industries operate. We are proud to support the development of these Michigan-based companies that will continue to drive our economy and shine a national spotlight on the innovation happening in the state.”
Pocketnest will compete against 24 other companies in the Accelerate Michigan Innovation Competition semifinals. Six finalists will present live at a seated dinner to more than 400 investors, entrepreneurs and community leaders on November 13 at the State Savings Bank in Detroit. Top awards include a grand prize of $350,000, second prize of $150,000 and third prize of $50,000.
“We are humbled and honored to be included among the other passionate brands, leaders and investors that Accelerate Michigan has curated for its 2019 competition,” said Jessica Willis, founder and CEO, Pocketnest. “As we continue to grow our brand, we remain dedicated to Michigan’s thriving entrepreneurial melting pot that is driving global innovation and change, and we believe the Accelerate Michigan community will propel us toward realizing that vision.”
The 2019 Accelerate Michigan pitch competition marks the second time Pocketnest has been a semifinalist in the pitch competition. The fintech startup was named a semifinalist in the 2018 competition.
Pocketnest, Inc.TM is registered with the SEC as a Registered Investment Advisor and is a fiduciary in name and deed. Pocketnest is a Michigan-based company that closes the gap between young people and their financial institutions, with a mission of making financial wellness accessible to everyone. Providing users with comprehensive and approachable personal financial planning and education, the digital platform puts users in the driver’s seat of their financial plan, while also uncovering more insights and opportunities for financial and non-financial institutions. Unlike robo advisors, other apps on the market and traditional advisors, Pocketnest is completely free to users and helps them build and adhere to a plan, from start to finish, in a DIY and step-by-step approach. The company licenses its platform to financial and non-financial institutions, ranging from credit unions to university and large corporation wellness programs, to help them better understand and serve their next generation audience. Learn more at pocketnest.com.
Accelerate Michigan Innovation Competition is a program of ID Ventures, is a competition that supports Michigan’s entrepreneurial ecosystem by offering entrepreneurs the opportunity to showcase their companies to investors while building connections with entrepreneurs, business acceleration resources, and experts in their sector during carefully curated individual meetings. For more information, visit www.acceleratemichigan.org.
ID Ventures, the venture team of Invest Detroit, supports promising Michigan-based high-tech startups through investment capital and programs that strengthen the startup ecosystem. As a collaborative investor and community partner, our approach is to provide inclusive access to resources for Michigan entrepreneurs with high-growth potential.
Read more in Crain's Detroit Business.
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