Orbion Space Technology takes $500,000 top prize at Accelerate Michigan Innovation Competition
The company’s satellite propulsion system targets the more than 10,000 small satellites that will be launched into orbit by commercial entities in the next seven years. Orbion’s propulsion system is capable of achieving efficiencies unmatched by anything currently available in the market.
Obviously there have been seven other winners of the competition which received the award. Our $250,000 has always been provided in the form of a convertible note. This year was particularly exciting for us because our investment in Orbion will be from returns received from previous winners of the competition.
All previous winners have indeed accelerated their growth since winning. We are thrilled with their success. This story is just one of many that demonstrates the diversity and innovation in Michigan with opportunity for investors, entrepreneurs, and society.