3 Michigan Companies Receive Michigan Microloan

Ann Arbor SPARK is excited to announce that Inventure Enterprises, LED Optical Solutions and RiserCam have all received funding that will support the commercialization of their core products.  Funding came from the Michigan Microloan Fund Program which has invested in total $1.1 million and collectively contributed $121,000 to these three new Michigan companies. Inventure Enterprises is based in East Lansing and is a global provider of management... [Read More...]

Four More Michigan Companies Receive Support from Michigan Pre-Seed Capital Fund

Four more Michigan companies recently received investments from the Michigan Pre-Seed Capital Fund.  To date, 38 Michigan companies have received seed funding from the Michigan Pre-Seed Capital Fund, a collaborative effort of Michigan’s SmartZones.  Combined, Mandy & Pandy, Algal Scientific, Axenic Dental, and RealBio Technology received $924,000 from the Michigan Pre-Seed Capital Fund. read more…  Read More →

Micro loans becoming very popular

Six months ago there was no such thing as a loan for a pre-revenue, innovative start-up company.  Today, if you are in Washtenaw county there are three sources for loans.  There has been a lot of press about these micro loans the past few weeks.  Expect a lot more.  We have made four loans to companies around the state through the Michigan Pre-Seed Capital Fund program totalling $137,500 in just three months.  Applicants for the Ann Arbor and... [Read More...]

MI Pre-seed Capital Fund changes announced

The state of Michigan, through the 21st Century Jobs Fund, has re-capitalized the Michigan Pre-seed Capital Fund.  The award of $6.8 million was approved by the SEIC board in March.   There are two significant changes affecting distribution of this new money.  One is the match for an investment is lowered to one-half to one.  In other words to ask for a $200,000 investment from the fund a company only needs $100,000 of matching investment from... [Read More...]

Michigan Pre-Seed Capital Fund Re-Funded

The SEIC Board yesterday (3/25/09) approved the proposal from Ann Arbor SPARK for the new $6.8 million pre-seed fund.  The new money comes from the unused dollars in the 2006 21st Century Jobs Fund competition.  These funds will be added to the current pre-seed fund which was nearly dry.  30 investments were made from the original funding in just two years.  The MEDC provided another $1.5 million last fall and allowed three more investments... [Read More...]

Entrepreneur Boot Camp Applications Available

Ann Arbor SPARK’s Business Accelerator is now accepting applications for its next Entrepreneur Boot Camp, scheduled April 23-24. Teams interested in participating in the two-day business planning and preparation event must submit applications by March 30, 2009. For more info, check out http://www.annarborusa.org/start-ups/boot-camp/  Read More →

MI Pre-Seed Capital Fund Q1 Investments

3 new investments made by PSF The Michigan Pre-Seed Capital Fund has made three more investments bringing the total number of investments to 22.  The three lastest investments were companies in Lansing, Kalamazoo and Ann Arbor. Two were life science companies and the third in homeland security and defense sector. Read the full press release at http://www.annarborspark.org/business-resources/news-of-note/Index.cfm?i=2398 Michigan Pre-Seed Capital... [Read More...]

MI Pre-Seed Capital Fund update

New investments made since June, 2007 There was not a slow down in deal flow for the Michigan Pre-Seed Capital Fund during the summer and it continues through the fall. Since our last post we have made investments in these companies… Phrixus Pharmaceuticals – Ann Arbor Avidimer Therapeutics – Ann Arbor Compendia Bioscience – Ann Arbor Accord Biomaterial – Ann Arbor Hybra-Drive Systems – Deerfield RazorThreat –... [Read More...]

Michigan Pre-Seed Capital Fund Update

Pre-Seed Fund makes 8th Investment The Michigan Pre-Seed Capital Fund has approved its 8th investment for Phrixus Pharmaceutical Inc.  This Ann Arbor company is receiving funds from the BRCC and its founders.  The pre-seed funding is $100,000. This brings the total investment amount made to date by the fund to more than $1.5 million. The deal flow is very strong.  Four companies are currently being reviewed and evaluated by the Investment Review... [Read More...]

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 technology platform has been applied to the development of proprietary diagnostic tests... [Read More...]

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