Michigan Microloan Fund hits 4 more firms
Source: metromode, 11/19/2009
One of Michigan's more innovative forms of supplying seed capital strikes again now that the state's Microloan Fund has made loans to businesses in Ann Arbor and Birmingham.
The
four loans total $200,000 and are meant to help the fledgling firms
grow their businesses and commercialize new products. The loans, which
usually are for about $50,000, are administered by Ann Arbor SPARK
and repaid with interest within a couple years. The loans are also
normally precursors to investments by angel investors and venture
capital.
The recipients include:
Solarflex. The
Birmingham-based firm will use the money to commercialize organic solar
cells. These cells have the potential to offer greater efficiency and
lower cost compared to solar cells currently on the market.
Allinnova.
The Ann Arbor-based firm is developing tools for a comprehensive
corporate capabilities assessment. Its microloan will be used to
commercialize a tool for determining a corporation's capability to be
successful in a strategic partnership with another organization.
Procuit.
The Ann Arbor-based software-development firm creates educational
software engines. Its funding will help support commercialization of
HomeschoolAdvantage.com, a product that serves as a dedicated portal
for the 2 million home schooled children in North America.
The Whole Brain Group.
This Ann Arbor-based firm will use the money to ease the transition
from a service-based business model to a product-based business model.
Its flagship product is a subscription-based service that provides
accreditation services to life science research institutions.
Source: Ann Arbor SPARK
Writer: Jon Zemke
Oakland County introduces voting reminder emails
Source: metromode, 10/8/2009
Oakland County is using cyberspace methods to get more real people voting in the next election cycle.
Its latest innovation is to send out an email reminder to voters two weeks before elections and then again on election days. The reminder will also include a bevy of other information voters can use to make the process easier.
"It's kind of like an electronic post-it note," says Ruth Johnson, Oakland County Clerk/Register of Deeds.
The
emails will be sent out before all local, school, state, and federal
elections and will link to the clerk's website. The site will feature a
list of candidates and ballot proposals, campaign finance reports,
polling locations, and instructional videos for using voting machines.
It
will also feature a new election reporting system that reveals results
in real time. Also included will be information on voter registration
and on how to become a poll worker, and a link to the state's Voter
Information Center.
"This is just one more tool in the tool box," Johnson says.
For information on these new systems, click here.
Source: Ruth Johnson, Oakland County Clerk/Register of Deeds
Writer: Jon Zemke
Birmingham's P15 Studios creates TV/videogame hybrid
Source: metromode, 8/27/2009
Kids these days spend a lot of their time
doing one of two things – watching TV or playing video games. P15
Studios wants to take advantage of both of those sectors.
The
Birmingham-based start-up is creating a video game that incorporates
live actors. The 9-month-old firm's 10 employees and 25 independent
contractors, all gamers, are working on the concept from P15 Studios
space above Cosi in downtown Birmingham.
"It will bring a level of gaming and television that wasn't here before," says Doug Kinnison, producer and CEO of P15 Studios.
Similar
to a TV show, real actors will act out story lines determined by
gamers. The actors will be doing anything from drama to sports. "We
know where the show is going but we don’t know how it’s going to get
there," Kinnison says.
Kinnison estimates it will take about 200
employees to fully complete one single game. He expects his company
will go on a big hiring binge once his concept catches on, something he
doesn't see as a problem with the state's movie tax credits. He also
would like to see this concept expand into things like iPhone
applications.
"There are a lot of people we will be hiring," Kinnison says. "It has the potential to become a huge industry here."
Source: Doug Kinnison, producer and CEO of P15 Studios
Writer: Jon Zemke
Oakland County notches $2.4 billion in investment since 2004
Source: metromode, 7/16/2009
During these tough economic times, many
companies and organizations bring out the long-term statistics from the
past several years to put themselves in a better light. Oakland County
can fall back on both the long- and short-term statistics.
The
county released a report that shows not only has it taken in about $2.4
billion worth of investment over the last five years, it did well in
June, with $748 million in investment.
Most of that comes from
General Motors' plans for a $650 million Orion Township plant, which
will build smaller, more fuel-efficient cars. However, that leaves
about another $100 million that the county was able to attract in the
midst of one of the toughest economies in generations.
Oakland County
has had more than $2.4 billion worth of business investment in the past
five years, giving residents a reason to be optimistic about its future
during the most difficult economic challenge in its history, County
Executive L. Brooks Patterson said recently.
"We had our best
month ever during one of the worst times ever," Oakland County
Executive L Brooks Patterson said in a press release. "We've withstood
all of the body blows and we're still standing."
More of the
$2.4 billion came from emerging sectors based in the new economy ($1.3
billion), compared to traditional business sectors, like automotive
manufacturing. Oakland County created its Emerging Sectors program five
years ago to help diversify its economy and make up for lost
manufacturing jobs.
Source: Oakland County
Writer: Jon Zemke
Troy law firm opens North Woodward Tech Incubator
Source: metromode, 6/11/2009
Not all business incubators are
government run. The North Woodward Tech Incubator is the latest example
of one, stepping into the limelight with the likes of the Russell Industrial Center.
The
new Troy-based incubator is geared much more toward high-tech, new
economy start-ups so raw they can't afford the reduced rental rates of
the likes of Ann Arbor SPARK and TechTown.
The North Woodward Tech Incubator offers free office space to start-ups
and all it asks for is the right to invest in the company later on down
the development line.
The incubator is the brainchild of Andrew Basile, president of the North Woodward Tech Incubator.
He also lives in Metro Detroit and runs the Silicon Valley office of
Young Basile Hanlon MacFarlane & Helmholdt. The 1,200-square foot
incubator is in the law firm's Troy office.
"I see so much
potential in Michigan but I became frustrated with how it wasn't being
realized," Basile says. "I just wanted to help."
The incubator has room for 4-5 start-ups and has already signed one firm, Leftos.com, the developer of a relationship website, run by one of the Technow09 organizers. The idea is to give them room and expertise to grow for 6-12 months before finding permanent space.
Basile
would eventually like to find a permanent home for the incubator in
downtown Royal Oak or Birmingham. He thinks the North Woodward Tech
Incubator needs a home in a strong urban core with high-density and
transit-oriented development.
"We believe that strong urban communities are essential to the formation of Silicon Valley-style companies," Basile says.
Source: Andrew Basile, president of the North Woodward Tech Incubator
Writer: Jon Zemke
Investepreneur Roundtable focuses on film biz opportunities
Source: metromode, 6/4/2009
The Birmingham Bloomfield Chamber's Investepreneur Roundtable may be the coolest name ever for an entrepreneur workshop.
The
forum will focus on Michigan's emerging film industry. The speakers
will offer advice on breaking in, financing business ideas, and
available options for investors. Presenters include film industry
producers and executives.
"It's all about managing expectations," says Carrie Zarotney, president, Birmingham Bloomfield Chamber. "This is a high-risk industry. You don't always see a return right away, or a big return."
The forum will take place at 4 p.m. Tuesday at The Townsend Hotel, 100 Townsend St. in downtown Birmingham. For information, call (248) 644-1700.
Source: Carrie Zarotney, president of the Birmingham Bloomfield Chamber
Writer: Jon Zemke
Birmingham's SmartFinds hopes to create 10-20 jobs this summer
Source: metromode, 5/14/2009
Don't use the term "social media" too much around Melih Oztalay. The CEO of SmartFinds Internet Marketing thinks the way of expressing marketing through Internet social circles is better put as social medium marketing.
Whatever
the word combination used for social medium marketing, Oztalay looks to
become a job creator for his downtown Birmingham-based company. SmartFinds
is on the way to creating a social media center for its big clients to outsource this function. He expects the center will create
another 10-20 jobs at his company when it opens this summer.
"Things are moving along on our end," Oztalay says.
SmartFinds
helps businesses navigate through the world of electronic information,
helping them understand how people use the Internet and how to adjust
their advertising and marketing campaigns accordingly. The company
helps these businesses move beyond search engines and discover more
ways to drive people to their websites.
The circa-1994 company
has watched a lot of large European and Asian corporate customers come
in and utilize SmartFinds' skills. Oztalay says these companies are
trying to grab market share while U.S. companies are lying on their
backs from the recession and hoarding cash.
"These companies are willing to invest in themselves when the U.S. companies are pulling back," Oztalay says.
SmartFinds
employs 15 people, plus its partners and a handful of independent
contractors. Its list of clients includes companies like Delphi,
Flagstar Bank and Big Boy restaurants.
Source: Melih Oztalay, CEO of SmartFinds Internet Marketing
Writer: Jon Zemke
Core3 Solutions expands staff by 25 percent
Source: metromode, 2/19/2009
Core3 Solutions has three core beliefs: profits, growth and more growth. Well, that isn’t an official ethos but it sure seems like it as the company closes out its 11th year in a row of growth.
The Birmingham-based firm increased its revenue by 50 percent in 2008 and its staff by another 25 percent. It also managed to pass the $1 million milestone for revenue last year.
The IT and web-development firm is using the down economy to its advantage. Company officials says small- and medium-sized businesses are dumping their own IT departments and taking on Core3 Solutions fixed-cost package as a way of saving cash in a tough economy. Its Managed Services sector grew 135 percent in 2008.
Walk-in repair in its new electronics boutique in Birmingham's Triangle District is also helping bring in new revenue. The service has grown 88 percent since the boutique opened and is still growing.
Source: Curtis Hays, director of business development for Core3 Solutions
Writer: Jon Zemke