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

admin — Mon, 07 Dec 2009 18:11:35 +0000

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…

Michigan Pre-Seed Capital Fund Re-Funded

Skip Simms — Thu, 26 Mar 2009 12:37:25 +0000

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 to be made to date. It is expected more that 20 more companies will receive funding over the next couple years.

Since this is 21CJF money it is limited to the four technology sectors in the legislation creating the 21CJF. Those sectors are: Advanced Automotive, Manufacturing, and Materials; Alternative Energy; Life Sciences; and Homeland Security and Defense.

The fund was originally and still is a collaboration among the states SmartZones. To apply for pre-seed investment a company must work with a SmartZone which will perform the initial due diligence and validate eligibility. The SmartZone will also make sure the applicant is adequately prepared and in some cases help the company raise the required match from outside investors or non-state grants.

There is more news to come regarding this new funding, so stay tuned.

MI Pre-Seed Capital Fund Q1 Investments

Skip Simms — Wed, 05 Mar 2008 00:12:23 +0000

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 Fund Invests In 3 More Michigan Start-Ups
List of lates investments and all other investments to date

Michigan Pre-Seed Capital Fund makes 4th Investment

Skip Simms — Tue, 01 May 2007 23:03:29 +0000

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 for human papillomavirus (HPV), the primary cause of cervical cancer, and to kidney disease, a serious condition associated with diabetes, hypertension, and lupus.

These funds will be used to initiate Analyte Specific Reagents (ASR) validation and prepare for a first round of venture funds for development and launch of the HPV assay, along with some continuing work to finalize the Kidney test product.

This investment brings the total investments from the fund to date to over $850,000. Applicant deal flow has hit 25 with several companies pending still looking for their match.

Skip Simms
Ann Arbor SPARK
skip@annarborspark.org