About Our Awards

Michigan 50 Companies to Watch

The Michigan 50 Companies to Watch recognizes 50 companies that are high potential, second-stage companies in Michigan. After submitting a nomination, the company will be notified to complete an application.

Eligibility Criteria:

To be considered for selection as one of the Michigan 50 Companies to Watch, the enterprise must meet the following for the year ending 2024.

• Be a privately held, commercial enterprise that has not received the award in the past (not a nonprofit, not publicly traded, not a subsidiary or division of another company).
• Be past the startup stage and facing issues of growth, not survival.
• Employ 6-99 full-time equivalent W-2 employees (including the owner).
• Have between $750,000 and $50M in annual revenue or working capital from either investments or grants.
• Be headquartered in Michigan.
• Demonstrate the intent and capacity to grow based on:
  • Employee or sales growth.
  • Sustainable competitive advantage.
  • Other notable successes.

Michigan 50 Distinguished Alumni Awards

The MCSB awardee alumni community is more than 900 companies strong and grows every year. This community represents a substantial amount of the vitality that is foundational to the Michigan economy. MCSB recognizes two previous Michigan 50 Companies to Watch awardees each year that best demonstrate the continued success of their alumni community.

Great Place to Work

The Michigan 50 Great Place to Work Award recognizes a previous Michigan 50 Companies to Watch recipient for increased contributions to its community and for fostering a creative, collaborative workplace culture to enhance performance and sustain a competitive advantage. To be considered for this award, the company must meet the following for the year ending 2023:

• Be a previous Michigan 50 Companies to Watch recipient, and have not received this award.
• Be headquartered in Michigan.
• Have increased the number of full­-time equivalent W-2 employees since company received the Michigan 50 award.
• Have at least $1.25 million in annual revenue or working capital from investors or grants.
• Have significantly contributed to their community: number of volunteer hours devoted to community organization/projects, financial support to families in need or non­profits, advocate for solutions to root cause problems, etc.
• Demonstrate the intention of continued social responsibility.
• Demonstrate a track record of a creative, collaborative workplace culture.

Strategically Focused Award

The Michigan 50 Strategically Focused Award recognizes a previous Michigan 50 Companies to Watch recipient that has strategically increased its sales since receiving the Michigan 50 designation to ensure continued sustainability in an ever-changing economy. To be considered for this award, the company must meet the following for the year ending 2023:

• Be a previous Michigan 50 Companies to Watch recipient, and have not received this award.
• Be headquartered in Michigan.
• Have increased the number of full­-time equivalent W-2 employees since company received the Michigan 50 award.
• Have at least $1.25 million in annual revenue or working capital from investors or grants.
• Demonstrate how they have been strategic in diversifying their products or services to stay relevant in the every changing economy.
• Be able to show sales growth in terms of revenue or sales receipt numbers.
• Demonstrate how you will stay at the higher sales levels.

Veteran-Owned Small Business Awards

The Veteran-Owned Small Business of the Year are businesses with at least a 51% ownership share held by a military veteran with a minimum of a “general discharge,” active-duty service member eligible for the military’s Transition Assistance Program, reservists and National Guard members. Proof of service (DD214, NGB-22, or other official proof of service must be submitted before award can be presented). To be considered for this award, the company must meet the following for the year ending 2024:

• Staying power, a history as an established business
• Demonstrate stable number of employees
• Financially stable
• Provide employment opportunities for members of the military community
• Demonstrated potential necessary for long-term business success and growth
• Have a positive company culture where employees are valued
• Community engagement, including contributions and volunteerism to aid community-oriented projects
• Voluntary efforts to support veterans directly or issues affecting veterans, including veteran-owned businesses, families of Veterans within the community

Minority-Owned Small Business Awards

The Minority-Owned Small Business of the Year are Michigan businesses at least 51% owned and run on a daily basis by a member (or collection of members) of four ethnic or racial groups: African Americans, Asian Americans, Hispanic Americans, and Native Americans. To be considered for this award, the company must meet the following criteria:

• Staying power, a history as an established business
• Demonstrate stable number of employees
• Financially stable
• Provide employment opportunities for members of the minority community
• Demonstrated potential necessary for long-term business success and growth
• Have a positive company culture where employees are valued
• Community engagement, including contributions and volunteerism to aid community-oriented projects
• Voluntary efforts to support minority groups directly or issues affecting minority groups, including minority-owned businesses, minority families within the community

Women-Owned Small Business Awards

The Women-Owned Small Business of the Year are Michigan businesses at least 51% owned and controlled by women who are U.S. citizens. Women must be involved in managing the day-to-day operations and making long-term decisions for the business. To be considered for this award, the company must meet the following criteria:

• Staying power, a history as an established business;
• Demonstrate stable number of employees;
• Financially stable;
• Demonstrated potential necessary for long-term business success and growth;
• Have a positive company culture where employees are valued;
• Community engagement, including contributions and volunteerism to aid community-oriented projects; and
• Voluntary efforts to support women directly or issues affecting women, including women-owned businesses within the community.

Micro Business Awards

This award framework is designed to celebrate the successes of micro businesses but also to encourage ongoing innovation, community involvement, and inclusivity. To be considered for this award, the company must meet the following for the year ending 2024:

• 1-9 employees or generating less than $500,000 in annual revenue
• Has a positive company culture where employees are valued
• Demonstrates a positive influence on the local community, either through providing jobs, services, or by contributing to local causes.
• Shows resilience in overcoming obstacles such as financial hardships, competition, or market barriers.
• Has a track record of strong customer satisfaction, supported by testimonials or reviews.

Disability-Owned Small Business Awards

This award framework is designed to not only celebrate the successes of disability-owned businesses but also to encourage ongoing innovation, community involvement, and inclusivity. The Disability-Owned Small Business of the Year is a business with at least 51% owned, operated, and controlled by individuals with disabilities. To be considered for this award, the company must meet the following for the year ending 2024:

• Business operations must encompass efficiency, quality of products/services, and overall operational excellence.
• Be able to demonstrate the potential for innovation to be scaled or adopted more widely.
• Positive Influence: The business’s role in improving the lives of people in the community by showing a positive influence.
• Positive work environment and support for employees with disabilities by showing employee satisfaction.

Best Small Business Awardees

Small Business Development Centers (SBDCs) are organizations located across the state that provide support services to Michigan small businesses.

Each region of these various support organizations selects a company to be recognized as a Best Small Business Awardee for demonstrating a strong relationship with the organization as well as significant success as a company. You must be a SBDC to submit a Best Small Business Awardee, and each SBDC may only submit one company to be recognized.

SBDC Best Small Business Awardees should be selected based on the following criteria:

• Demonstrated growth as a small business
• Embodiment of the American entrepreneurial spirit
• Strength of the relationship with the SBDC