Biotechnology Business Consultants eyes big biz impact over next 3 years
Had you asked Lisa Kurek her opinion about the potential of growing biotech start-ups in Michigan late last year, she would have told you to ask her again in a month or two. Ask her today, and the managing partner of Biotechnology Business Consultants won't put off the question. She will exude confidence. Kurek points out that the recent reauthorization of the federal Small Business Innovation Research grants brought stability back to the bio-tech... [Read More...]
Michigan Pre-Seed Capital Fund Invests $585,000 in Three Start-Ups
Three Michigan companies recently received investments from the Michigan Pre-Seed Capital Fund, totaling $585,000. To date, the Michigan Pre-Seed Capital Fund, a collaborative effort of Michigan’s SmartZones, has awarded 63 Michigan companies with seed funding totaling more than $14 million. The Michigan Pre-Seed Capital Fund companies have attracted more than $18 million in matching grant and equity funds. In 2011, the Michigan Pre-Seed Capital... [Read More...]
Ann Arbor SPARK awarded $500,000 from the MEDC for SPARK East Incubator
Ann Arbor SPARK was recently awarded $500,000 from the Michigan Economic Development Corporation’s (MEDC) 21st Century Jobs Fund. The funding will support the Ann Arbor SPARK East business incubator. “MEDC support for Ann Arbor SPARK’s East incubator extends and enhances opportunities for start-ups throughout the region,” said Paul Krutko, president and CEO, Ann Arbor SPARK. “Business incubators play an important role... [Read More...]
Next wave of U-M start-ups floods TechArb incubator
A new batch of studentpreneurs is flooding into the TechArb, the University of Michigan's business incubator for student-led start-ups. The downtown-based incubator recently moved to a bigger space (50 percent larger) on West Liberty Street in the basement of the Liberty Square Building next to the Michigan Theatre. About a dozen early-stage start-ups use the space for a six-month periods, starting in November and May. This year the organizers... [Read More...]
Current Motor Co. lays groundwork for scooter production
Beta is a word commonly used with Internet start-ups, but it's a word that's en vogue with one automotive start-up, Current Motor Co. The Ann Arbor-based firm finished testing its pilot electric scooters earlier this year and is now in the final stages of developing its Beta bike. The three-year-old start-up hopes to begin mass producing the scooters later this year and with an eye for a market break-out in 2012. The company also plans... [Read More...]
U-M start-ups score $34K in Dare to Dream grants
The University of Michigan's Dare to Dream grants aren't so much about growing student-led start-ups as they are about growing the student entrepreneurs themselves. The Dare to Dream program, organized by U-M's Zell-Lurie Institute for Entrepreneurial Studies, distributes up to $100,000 each academic year to U-M students. The grants range in size from $500 to $10,000 and help students fund things like feasibility studies, business... [Read More...]
U-M start-ups score $34K in Dare to Dream grants
The University of Michigan's Dare to Dream grants aren't so much about growing student-led start-ups as they are about growing the student entrepreneurs themselves. The Dare to Dream program, organized by U-M's Zell-Lurie Institute for Entrepreneurial Studies, distributes up to $100,000 each academic year to U-M students. The grants range in size from $500 to $10,000 and help students fund things like feasibility studies, business... [Read More...]
U-M Tech Transfer breaks records in tech commercialization
Officials at the University of Michigan Office of Tech Transfer like to say that they are striving for more quality start-ups rather than more stats. That doesn't mean they can't do both. The university recorded 101 license and options for its technology in the fiscal year ending on June 30. That's more than any other previous year. U-M researchers also recorded 322 inventions and filed for 122 patents. U-M also helped launch 11 start-ups... [Read More...]
Plymouth Venture Partners raises $41M fund, surpasses goal
The Plymouth Management Company, commonly known as Plymouth Venture Partners, has recently closed its second investment fund, raising $41 million and surpassing its goal of $30 million. The eight-year-old venture capital firm raised $23.5 million in its first fund, resulting in 29 investments in mostly firms in the Great Lakes region. Among its most notable successes were Pump Engineering (acquired in late 2009 for $27 million) and Accuri Cytometers,... [Read More...]
Michigan Microloan Fund receives payback on successful start-up loans
The Michigan Microloan Fund Program got its start two years ago loaning seed capital to start-ups, and the first of those loans are starting to come due. One has even been paid back early. "We have $400,000 in loans that are due between now and the end of the year," says Skip Simms, a senior vice president of Ann Arbor SPARK and manager of the Michigan Microloan Fund Program. The $1.5 million fund got its start in the wake of the financial... [Read More...]
