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
Esperion reintroduces itself with new clinical trial, growth
Source: Concentrate, 11/19/2009
An old successful name is creating some new jobs in the Ann Arbor/Plymouth area.
Excerpt:
Back again for the first time, Esperion is getting its heart rate up as it begins its first clinical trial.
The former Ann Arbor-based firm that now calls Ann Arbor SPARK's Michigan Life Science & Innovation Center
in Plymouth home started its first clinical Phase I clinical study
since Pfizer spun the company back to its original founder last spring.
Read the rest of the story here.
GREEN SPACE: WSU grad student launching co. to develop solar water heater monitor
Source: metromode, 11/12/2009
David Collins, an Ann Arbor resident and Wayne State University
graduate student, was struck with the entrepreneurial bug when he
became curious about the amount of energy his own solar hot water
heater produced. Since he was already on his way to earning his
graduate certificate in alternative energy, his next step was to launch
a business, Qisol, that will develop a readily-accessible affordable performance monitor for solar hot water heaters.
An idea is one thing, funding and backing another. His was one of six student companies chosen for WSU's E2 Challenge, housed at TechTown. The program
supports Wayne State students in exploring the potential of their own
start-up companies and preparing for outside investment.
The student
groups that won the challenge received financial support and a
summer-long mentoring program to develop their business idea with the help of funding from the
Michigan Initiative for Innovation & Entrepreneurship.
Now
Collins, who is earning a graduate certificate in alternative energy
technology at WSU, is well on his way to launching a business that will
make heating water with solar power a more viable, efficient
alternative. The program provided Collins with training in marketing,
educated him on corporate structure, and provided the backing that made
conversations with potential investors and customers possible.
"E2 was wonderful...When I was going out and talking with
installers, utility companies, and state representatives, once I told them I had a grant they
wanted to listen," says Collins. "Once they knew someone was backing me up, it carried a lot
of clout."
Collins now has a prototype of his product and three electrical
engineers and two web designers working for him. He submitted an
application for a Small Business Innovation Research grant from the
Department of Energy in September and is currently developing a second prototype. He plans to launch his business in
February 2010 and graduate in April.
Source: David Collins, Qisol
Writer: Kelli B. Kavanaugh
Downtown Ann Arbor's re:group sees steady growth
Source: Concentrate, 11/12/2009
Ann Arbor's re:group is doing anything but as it continues its steady growth in the college town's downtown.
Excerpt:
Ann
Arbor's re:group deals with a lot of new economy business model like
brand development and social media, but it depends on an old school
business model to grow its own business.
The downtown-based firm
focuses on growing its client base and existing business relationships.
That led to landing a number of new clients (the latest is Health Plus of Michigan), pumping up its revenue 10 percent over last year as well as adding two people to its staff of 20 (and an intern).
Read the rest of the story here.
$19M in stimulus funds for U-M retirement study creates 60 jobs
Source: Concentrate, 11/5/2009
Who would have thought a big study about
retirement would put so many people to work? Researchers at the
University of Michigan, that's who.
Excerpt:
$19 million buys a lot these days, including a lot of research at the University of Michigan.
The U-M Health & Retirement Study,
conducted by the university's Institute for Social Research, recently
won four grants totaling $19 million from the federal stimulus package.
That funding will translate into 60 new direct jobs and lots of other
work for hungry researchers across the nation.
"We manage the activity centrally here in Ann Arbor," says David Weir, research professor for the U-M Institute for Social Research.
Read the rest of the story here.
Ford, U-M work on accelerating hybrid development
Source: metromode, 10/29/2009
Researchers from the University of Michigan and Ford are working together to turn your hybrid car into a math equation.
The
idea is to find the optimal levels for fuel economy, parts lifespan,
comfort, and overall driveability for hybrid power systems, a
technology that is still in its infancy.
"Once we have
developed a mathematical model of the power system and what Ford
engineers are trying to optimize, we can tell them what the optimal
efficiency is," says Jessy Grizzle,
a professor of electrical engineering and computer science at the
University of Michigan who is working on the project with U-M PhD
student Daniel Opila.
The bottom line is in trying to figure out
the best way to meet a customer's needs and increase satisfaction
level. This includes maximizing fuel efficiency, but not at the expense
of wearing out the drive train or other parts.
Source: Jessy Grizzle, professor of electrical engineering and computer science at the University of Michigan
Writer: Jon Zemke
Ann Arbor entrepreneurial community wins with $300M sale of HandyLab
Source: Concentrate, 10/29/2009
Ann Arbor start-up HandyLab hit it big in the up-and-coming entrepreneurship game.
Excerpt:
The sale of Ann Arbor-based HandyLab is the story that entrepreneurial dreams are made of.
And in this case they came true.
A published report on AnnArbor.com puts the price Becton-Dickinson paid for HandyLab
at $300 million (a BD spokeswoman declined to confirm the price), and
if that's true it's a very big start-up win for the region. The type
that reinforces, if not proves, the idea that entrepreneurs can hit it
Silicon Valley-big in Ann Arbor.
"This kind of success
demonstrates that you can do this very well and allows local venture
funds to leverage more capital," says Tom Kinnear, executive director
of the Zell Lurie Institute for Entrepreneurial Studies at the
University of Michigan's Ross School of Business.
Read the rest of the story here.
U-M scores $6.8M in federal stem cell research grants
Source: Concentrate, 10/29/2009
Increasing amounts of money are going toward stem cell research at the University of Michigan.
Excerpt:
Thirteen is the lucky number for stem cell research at the University of
Michigan. That's how many federal grants the university recently
received for stem cell research, totaling $6.8 million in federal
stimulus cash.
"That money will certainly accelerate stem cell
research at the University of Michigan," says Sean Morrison, director
of the University of Michigan Center for Stem Cell Biology. "It will go
towards all sorts of stem cell research at the University of Michigan."
Read the rest of the story here.