$2 Million Michigan Angel Fund Begins Investing in Early Stage Companies

The Michigan Angel Fund (MAF), a professionally managed equity fund focused on capital efficient early stage companies located in Michigan, recently closed the fund to new investors. MAF is a $2 million fund that, with more than 70 members, is the largest angel organization in Michigan. MAF has already made its first investment, in East Lansing-based BioPhotonics Solutions, a Michigan State University spin-out venture, producing technology that automates... [Read More...]

Seven Companies Receive Michigan Microloan Fund Program Awards

Seven Michigan companies have received a combined total of more than $232,000 through the Michigan Microloan Fund Program, bringing the total amount loaned through the Fund to more than $2.8 million.  The companies received the funding to support commercialization of their core products. “This latest round of Michigan Microloan Fund Program investments support an impressive range of innovations from around the state,” said Skip Simms, senior... [Read More...]

Annual Collaboration of Entrepreneurship Draws Almost 1,000 People to Ann Arbor

This past January, almost 1,000 people traveled to Skyline High School in Ann Arbor for the 12th Annual Collaboration of Entrepreneurship (ACE’12). Representatives from fifteen different organizations, all focused on entrepreneurship and hi-tech start-ups, came together to organize the event. ACE brings together entrepreneurs, service providers, investors, students, government agents and other members of the business community to network, learn... [Read More...]

Akervall Technologies Repays $15,000 Michigan Microloan Fund Program Award

Sassa Akervall, COO of Akervall Technologies, and Skip Simms, senior vice president of Ann Arbor SPARK Akervall Technologies recently repaid its Michigan Microloan Fund Program award, making it the first microloan recipient to repay funding.  The company, whose work on the innovative Protech Dent™ mouth guard was also awarded phase I SBIR funding, repaid its $15,000 microloan in just 15 months, nine months before it was due. “Akervall Technologies... [Read More...]

MichAGAIN Boston Attracts VCs

MichAgain's VC luncheon attracted attention to the state's growing companies What do you get then you put 15 high powered VCs in a room?  About $1 billion of capital to spend and a whole lot of interest in our entrepreneurial endeavors. Our first MichAGAIN Boston event was a ravishing success.  Our informal program was packed with dynamic speakers including our very own VC expert Skip Simms, as well as Ken Nisbet, head of U-M Tech... [Read More...]

Lakeside Software to Expand with New Ann Arbor Facility

Lakeside Software will grow its software development operations in Michigan, with a new location in Ann Arbor and an expansion to its existing operations in Bloomfield Hills.  The company recently received a Michigan Economic Growth Authority (MEGA) tax credit totaling $731,244 to help encourage the expansion. Lakeside Software plans to invest $6.1 million to expand existing operations in Bloomfield Hills, as well as locate operations in Ann... [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...]

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...]