MSF Board Approves Loans for 5 Ann Arbor SPARK Sponsored Companies

$1.5 million in low interest loans will be provided these Ann Arbor area companies. The Michigan Strategic Fund Board approved loans totaling $1.5 million to five Ann Arbor SPARK sponsored companies through the Company Formation and Growth Fund.  This is the fund created recently to provide low interest loans to life science companies hiring Pfizer …

Read more MSF Board Approves Loans for 5 Ann Arbor SPARK Sponsored Companies

New Pool of Funds for Pfizer Assets

MSF Approves $8mm Fund The Michigan Strategic Fund met Wednesday and approved proposals from three economic development organizations, including Ann Arbor SPARK, to create a fund to be invested in companies, including start-ups, that will keep Pfizer employees in the state.  Ann Arbor, Kalamazoo and Holland will meet next week to work out the details …

Read more New Pool of Funds for Pfizer Assets

Michigan Pre-Seed Capital Fund makes 4th Investment

SensiGen of Ann Arbor receives $250,000 from Pre-Seed Fund The Michigan Pre-Seed Capital Fund made its 4th investment last week.  SensiGen of Ann Arbor received a $250,000 investment as part of their $520,000 round.  SensiGen is a biotechnology company focused on gene based molecular diagnostics that will enable early detection of diseases. To date, SensiGen’s …

Read more Michigan Pre-Seed Capital Fund makes 4th Investment

Next Round for 21st Century Jobs Fund ‘On Hold’

February SEIC Board Meeting cancelled The Michigan Strategic Fund Board meets next Wednesday.  Although the minutes of their January meeting are not on-line yet it is common knowledge that they did not approve the SEICs request to start a new round of funding for Michigan start-ups.  The MSF wants to use the $34 million for …

Read more Next Round for 21st Century Jobs Fund ‘On Hold’

Jan 3 Presentations Now Available

4 Sources of Pre-Seed invesmtent explain criteria and procedures for applying On January 3 Ann Arbor SPARK hosted an event that showcased 4 sources of capital available to Michigan start-ups who are nearly ready for their first round of equity investment. Automation Alley’s fund, Next Energy’s fund, the Frankel Fund and SPARK’s Michigan Pre-Seed Capital …

Read more Jan 3 Presentations Now Available

VC Investing in Michigan Biotech more than doubled in 2006

Venture capitalists closed on 11 deals in Michigan last year totaling $135.5 million, with several bio-technology startup In case you missed it, below is a link to the mlive.com story dated Feb. 1 about the BioEnterprise report that said 8 deals in Ann Arbor/Detroit were done last year with a total investment exceeding $98mm, ranking …

Read more VC Investing in Michigan Biotech more than doubled in 2006

Michigan Pre-Seed Capital Fund Presentation

Over 100 people, representing early stage start-up companies, attended the SPARK sponsored presentation on available capital for early stage companies.  The program was intended to offer entrepreneurs and their advisors the opportunity to hear about several ‘pre-seed’ type funding sources available to them. Making presentations were Tom Anderson with Automation Alley, Jim Croce from Next …

Read more Michigan Pre-Seed Capital Fund Presentation