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...]
Ann Arbor SPARK brokers Liebherr-Aerospace expansion in Saline
Ann Arbor SPARK has made its work practically synonymous with growing start-ups, but the business accelerator is doing more to grow other new economy segments of the region's entrepreneurial ecosystem. The latest example of that is the expansion of Liebherr-Aerospace's operations in Saline. The aerospace supplier is expanding its 100,000-square-foot facility by another 33,000 square feet for landing gear manufacturing. It's an expansion... [Read More...]
Say ‘Hello’ to Ann Arbor’s newest VC, Augment Ventures
Another new venture capital firm has popped up in Ann Arbor, joining what is now a handful of new private funding options for local start-ups. Augment Ventures has raised 10 percent of what it expects to be a $20-million fund focused on cleantech and IT start-ups. It has also made its first investment in Aperia Technologies. The San Francisco-based start-up is developing an automatic tire inflation device that should increase gas mileage, safety,... [Read More...]
LectureTools adds 7 jobs in prep for product launch this fall
If the mother of invention is necessity, then it might also be the surrogate parent of start-ups. LectureTools, a University of Michigan spin-out that is reinventing educational materials, makes a good argument for it. The 1-year-old start-up got its start late in 2009 when a small group of graduate students approached U-M Prof. Perry Samson, co-founder of Weather Underground, about reinventing the software program for educational materials, such as... [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...]
Kauffman Study Shows Impact of Business Accelerator Efforts on SE Michigan Start-Ups
A new Kauffman Foundation study shows the results of business accelerator efforts by Southeast Michigan’s economic development organizations. Combined, Ann Arbor SPARK, Automation Alley, Macomb-OU INCubator and TechTown , collectively known as the Business Accelerator Network for Southeast Michigan, have: Created more than 1,000 jobs Invested approximately $18 million in hundreds of start-up companies Secured more than $101.2 million in... [Read More...]
Smart Grid Companies look at this
4 big venture firms and General Electric are dangling $200 million in seed capital for good ideas and start-ups that will dramatically improve the grid. Check out this article in cnet for more information. GE, VCs offer $200 million in smart grid challenge. Read More →
