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 →
Four Michigan Companies Receive $125,000 from Ann Arbor SPARK’s Microloan Program
Four more companies have received funding from the Michigan Microloan Fund Program, administered by Ann Arbor SPARK. Allinnova, Procuit, Solarflex, and The Whole Brain Group will use the funding to commercialize their products. The Michigan Pre-Seed Capital Fund, the Ann Arbor Local Development Financing Authority and Washtenaw County support the Michigan Microloan Fund Program. Read more… Read More →
Michigan Pre-Seed Capital fund recipient Limo-Reid pays back $750,000, plus interest, to 3 investors
As reported by Tom Henderson, Crain’s Detroit Business September 30, 2009 Ann Arbor Spark, as well as two other community-development organizations, have been repaid with interest for early support of a Deerfield-based company that hopes to revolutionize transmission systems for trucks and military vehicles.Limo-Reid Inc. has paid back $250,000, plus interest, that Spark loaned to the company as part of the Michigan Pre-Seed Capital Fund... [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...]
Crain’s identifies SPARK as “scratching the entrepreneurial itch”
From Crain’s cover’s Washtenaw/Livingston …Goldschmidt is one of the nearly 70 new startups that have begun working with Ann Arbor Spark this year, a roughly 25 percent increase from the same period in 2008, according to Skip Simms, director of business acceleration services at Spark. Much of the spike is driven by an increased awareness of the resources available to Ann Arbor’s entrepreneurial community and an increase in... [Read More...]
Spark East Incubator Profile: RealKidz
Although best known for its technology and science innovation-based tenants, the Spark East business incubator has amongst them, an apparel design, manufacturing and retail company. RealKidz, Inc. is a direct sales company that makes a line of age-appropriate clothing for 5-12-year-old girls specializing in above average as well as average sizing. It has a direct-marketing model similar to that of Mary Kay or Pampered Chef. Mothers and daughters take... [Read More...]
RealKidz CEO receives Pioneer Spirit Award
Anyone who knows Merrill Guerra is not surprised that she is the recipient of the 2009 Pioneering Spirit Award from the National Association of Women Business Owners Greater Detroit Chapter. She will be recognized and given the award at NAWBOs annual meeting in Troy on June 11. This award is presented to a woman business owner who is doing something innovative in her business or who has started an innovative business. Merrill’s mission... [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...]
Pre-Seed Fund Makes 3 More Investments
3 start-ups receive $680,000 from state fund The Michigan Pre-Seed Capital Fund has made three more investments. They are: Creative Byline of Holland SenSound in Detroit Biotectix in Ann Arbor These investments are 29, 30 and 31 for the fund. It’s pretty impressive this little fund can make 31 investments in two years. Yes there is still capital that can be deployed. More than $1million. There are currently 7 companies under review. Demand... [Read More...]
