Young entrepreneurs highlight local talent at TechNow conference

Jordan Wolfe went the way too many college graduates from Michigan go these days. The Metro Detroit native graduated from Indiana University and took a job in investment banking/private equity in San Francisco. After two years, in 2007 he came back to Metro Detroit for family reasons and got going on his own start-up, uwemp.com, an online media company.This year he teams up with two other local young entrepreneurs also in their 20s, Mason Levey and Zach Lipson, to start TechNow 09. The tech conference will showcase the young new economy talent in Metro Detroit and give them a place to network. They're holding it at the Royal Oak Music Theatre on April 23. "It's going to be young but very well polished," Wolfe says. "It's not going to be let's focus on the bad things in Michigan and Metro Detroit, but what can we do?"The idea is to help build the local new economy so people like Wolfe and his friends have a community to build their businesses on. That way they don't have to run off to places like Silicon Valley to go after dreams of start-ups and entrepreneurship.Not to mention that Michigan has its own attributes that Wolfe and his partners will be pointing out to those attending. Those advantages include low overhead costs for tech workers and office space."If we end up staying, we need a reason to," Wolfe says.Source: Jordan Wolfe, co-founder of TechNow 09Writer: Jon Zemke

Defense firms coordinate attack with Michigan Security Network

Call it a plan of attack or a confederation of defense-minded interests preparing for war. Regardless of the description, its proper name is the Michigan Security Network. In a coordinated effort to win more investment (and jobs) in the homeland security sector, a bakers' dozen and then some (16) of prominent firms, universities, and other groups have have banded together to create the new group. "We have a lot of moving parts and they'll all result in some sort of job creation in Michigan," says Leslie Touma, president of the Michigan Security Network.Homeland security is a $113 billion market. Touma believes Michigan can become a major player for a big piece of that pie. The Michigan Security Network has identified three key areas offering the greatest potential: cyber security, border security, and biodefense. It will serve as a networking hub, database, and market research for leveraging this growing sector.Michigan also holds a number of inherent advantages. It has a large number of patent holdings, it is the country's busiest international border, and ranks second among states for overall research and development spending. Last year, Michigan earned approximately $37 million in homeland security grants while states such as California and New York each received more than a quarter of a billion dollars.The Michigan Security Network is planning its first technology conference in November in Dearborn.Source: Leslie Touma, president of the Michigan Security NetworkWriter: Jon Zemke

Metro Detroit, Michigan score high in biotech VC rankings

Metro Detroit and Michigan are hitting the high end of the rankings when it comes to investment in biotech, according to the latest BioEnterprise Midwest Health Care Venture Investment Report.The Detroit-Ann Arbor region ranked second in Midwestern metro areas for biotech investment, with $70.8 million in investment from eight deals. That ranking is up from fifth in 2008 and sixth in 2007. The total investment has remained consistently between $64.9 million and 74 million while the number of annual deals also remained steady between five and eight.Michigan ranked third in the Midwestern states region with $88.7 million over 11 deals. Minnesota and Ohio took the top two spots with more than $130 million each. The Great Lakes State ranked fourth last year and seventh in 2007 and 2006. Michigan's annual amount invested climbed from $38.9 million in 2006 to a high of $90 million last year.Midwest health care startups reported $593 million in total investments across 140 companies through the first three quarters of 2009. Minnesota and Indiana lead the way in the rankings, with Michigan, Indiana, and Missouri making up the second tier. Source: BioEnterprise Writer: Jon Zemke

Toasting Innovation (read about it below)

Despite its legacy of fabrication, and even with Ford's plans to reinstate pay raises in 2010, Detroit's economy will never be the same. Which may be just what the doctor ordered. While it's painful medicine to be sure fundamental changes to our culture and economy are long overdue for Metro Detroit. As the first decade of the new millennium closes out, Metromode raises a glass to a more sustainable future of industry titans and new beacons. It's hard to pinpoint the top growth stories among the hundreds of new and rejuvenated firms that hired in 2009, so for our wrap-up of the best innovation this annum we present a small sampling of the trades and initiatives where production should hum loudest in coming years. From the new film production infrastructures flowing out of state incentives to a trio of young grads that built a gathering 800 strong to talk about tech now, see our reflection of where the time, dollars, and talent went in 2009. New Economy Initiative makes big investment in Metro DetroitKellogg Foundation commits $1.2M to internships in MichiganUnity Studios lands WAR Entertainment Film Biz21st Century Investment Fund invests $36M, brings in 2 new VC officesMetro Detroit, Michigan score high in biotech VC rankingsMetro Detroit lands 2 of 4 new lithium ion battery plantsDefense firms coordinate attack with Michigan Security NetworkTroy law firm opens North Woodward Tech IncubatorYoung entrepreneurs highlight local talent at TechNow conference

New Economy Initiative makes big investment in Metro Detroit

The $100 million New Economy Initiative has made its first big investment in southeast Michigan, injecting $11 million into eight projects ranging from job creation to historic renovation.Ten foundations on the local, regional and national scene created the New Economy Initiative last year to help spur economic transformation in Metro Detroit. The idea is to give targeted grants to areas of the economy that will position southeast Michigan for a robust economic recovery by investing in education, entrepreneurship, new technologies and urban revitalization. The first round of investments include: $3 million for the Argonaut Building project. The College for Creative Studies is expanding its campus into the historic Albert Kahn-designed structure behind the old GM headquarters in Detroit's New Center neighborhood. $2.5 million for Sugar Hill District development. That money will help make possible the University Cultural Center Association's $37 million project that will help develop a dense business-and-residential arts district in Detroit's Midtown neighborhood. $1.9 million for internships for area college students. The Detroit Regional Chamber is quarterbacking the implementation of a statewide system to place 25,000 Michigan college students in internships. Students are more likely to land jobs and stay in areas where they get internships. $1.5 million for The Michigan Initiative for Innovation and Entrepreneurship. The consortium of Michigan’s 15 public universities will use the money to help accelerate collaboration and innovative, job-creating research at the universities to the tune of 20 new start-up businesses and entrepreneur initiatives. $950,000 for Bizdom University. The non-profit that helps turn talented young adults in Detroit into entrepreneurs plans to use the money to double its enrollment this year. $750,000 for The Life Sciences Innovation Center. That money will help Ann Arbor SPARK turn a former Pfizer laboratory into the Michigan Life Sciences and Innovation Center, a business incubator for life sciences firms and entrepreneurs. $400,000 to support the Detroit News Bureau. The Detroit Renaissance created the Detroit News Bureau so share local stories of economic growth and transformation with journalists and other opinion makers.   $42,500 to the Detroit Renaissance to support regional planning to grow the health and bio-medical industry. Detroit Renaissance is working with the Detroit Regional Chamber of Commerce and other regional economic development organizations to expand the local health and life-sciences industry. The Community Foundation for Southeast Michigan is administering the New Economy Initiative. Among the participating organizations are the Max M. and Marjorie S. Fisher Foundation, Ford Foundation, Hudson-Webber, W.K. Kellogg, John S. and James L. Knight, Kresge, McGregor Fund, Charles Stewart Mott and Skillman foundations.  Source: Edith J. Castillo, Program Officer, New Economy InitiativeWriter: Jon Zemke

Night Move bus opens new service in Detroit’s city center

The Night Move is no longer singular. The popular weekend express shuttle between some of Metro Detroit's most vibrant downtowns now has a companion shuttle called The Loop.The Night Move goes between downtown Royal Oak, Ferndale, and Detroit on Fridays and Saturdays. The Loop will focus on moving between hot spots in Detroit's downtown and Midtown neighborhoods on Friday and Saturday nights.The Loop will stop at the Town Pump Tavern/Centaur, Bookies Bar and Grill, Greektown, Wayne State, Traffic Jam and Snug and MGM Grand between 6 p.m. and 3 a.m. It costs $5 for an all-night pass."We'd like to eventually run this bus for free," says Jennifer Harlan, marketing director for The Night Move. "That's the end goal."The Night Move provides a shuttle bus between night spots along the Woodward corridor. The shuttle bus runs on biodiesel and is driven by Chris Ramos, the owner. Source: Jennifer Harlan, marketing director for The Night MoveWriter: Jon Zemke

Michigan Life Science Innovation Center opens in Plymouth

Birmingham/Troy transit center moves forward

The plans for the Birmingham/Troy transit center are taking shape while the funding sources are being targeted.The planning commissions for the two cities recently met to review architectural renderings of the proposed center. They plan to hold a community design charrette on June 15-16 after the architects come back with more detailed plans."We're waiting on them to make some changes and tweaks," says Jana Ecker, planning director for the city of Birmingham.The two cities plan to create a $6 million transit center on the Birmingham side of the border between the cities. About $4 million would be set aside for the center while another $2 million would be used to build a pedestrian tunnel underneath the tracks. The center would facilitate traffic from pedestrians, bicyclists, automobiles, buses and the planned northern extension of the Detroit-Ann Arbor commuter rail line. There has also been talk of creating an east-west streetcar line to connect the station to Birmingham's downtown and Troy's Somerset Collection mall.The proposed site is in Birmingham's emerging Rail District. The cities plan to create a transit-oriented-development district around the station that would roughly be bordered by Crooks, Adams, Maple and Lincoln streets. A Southeast Michigan Council of Governments official will conduct a walkability tour of the neighborhood on April 29 to gauge how best to take advantage of the expected transit oriented development.Officials from both cities are also meeting with the staffs of Michigan's congressional and senate office holders to help arrange funding. Congressman Gary Peters has already put in for a $2 million federal earmark to help bring the project to fruition.Source: Jana Ecker, planning director for the city of BirminghamWriter: Jon Zemke

BAE Systems builds new campus in Sterling Heights

The construction workers have just begun gearing up for demolition in Sterling Heights to make room for BAE Systems new campus.The military-based firm is taking over the old TRW site on the 32400 block of Van Dyke and turning it into its new engineering campus. The expansion is expected to create 460 new jobs thanks to an investment of $44 million in the 81-acre property.The Michigan Economic Growth Authority approved $1.4 million in loans to make the creation of the new tech center possible. The center will concentrate on the land and armaments projects.BAE Systems builds the Bradley Fighting Vehicle, M113 Armored Personnel Carrier, the Valanx, Mine Resistant Ambush Protected vehicles and a number of other ground vehicles for the U.S. Army. General Dynamics has traditionally been the main defense contractor in Sterling Heights. However, a number of other defense contractors have set up shop in Sterling Heights in recent years, creating hundreds of engineering jobs in the process.Source: Steve Guitar, director of the Community Relations Department for the city of Sterling Heights and the Michigan Economic Development CorporationWriter: Jon Zemke