Innovation News

Realtime Technologies fills out customer base in Royal Oak

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Arts and Culture
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August 26, 2010

Realtime Technologies has landed an investment from Siemens Venture Capital while it continues to grow its downtown Royal Oak office.Siemens Venture Capital, which didn't disclose the amount of the investment, cited Realtime Technologies' continuous double-digit growth since its inception in 1999, along with its global customer base for high-end 3D visualization technology. "We just want to be like Pinky & The Brain and take over the world... but in a nice way," says Clayne Woodbury, national sales director for Realtime Technologies.The company employs 10 people at its Royal Oak office and is looking to add some staff there in the near future. Part of the reason for that expansion is its increased sales volume to its existing customer base and expanding into emerging markets, such as China."We have had some huge projects, and it's been multiplying," Woodbury says.Realtime Technologies creates simulators for the likes of the automotive industry and is expanding to other areas, such as simulating soil shifting for environmental firms. It's also looking at expanding into the video game world.Source: Clayne Woodbury, national sales director for Realtime TechnologiesWriter: Jon Zemke

Latest in Innovation News
Pontiac, Detroit, Hamtramck focus of MSU broadband project
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Community Development
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August 26, 2010

Pontiac will be one of the first cities to receive more computers and better Internet service thanks to a $6 million program Michigan State University plans to launch later this fall.The Oakland County seat, along with Detroit, Hamtramck and Highland Park, will receive dozens of computers for local libraries, public housing centers, community centers and community colleges. This will include both desktops and laptops, along with faster Wi-Fi connections at these facilities."It will be a matter of computers popping up all over the place in the Detroit area," says Kurt DeMaagd, assistant professor of telecommunications at Michigan State University. "It will add up to about 70 locations in total over the first year." He adds that Metro Detroit will receive about a third of the $6 million federal stimulus grant funding the program.The entire program expects to install 2,232 computers in 207 locations in Metro Detroit, Benton Harbor, Saginaw, Muskegon Heights and Flint. Organizers expect the new computers and increased access to the Internet will allow residents in these areas greater access to education, job training and job searchers/applications rooted in the new economy. The money will also help Michigan expand its e-Library program services.Michigan State has already begun the process of implementing these computer/broadband Internet resources and training local people how to use them. The first round of funding worth $1 million began installing 500 computers in 88 libraries across the state, primarily in rural areas that will serve an extra 13,000 people.Source: Kurt DeMaagd, assistant professor of telecommunications at Michigan State UniversityWriter: Jon Zemke

Waterford’s Sphere Trending predicts consumer future
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Arts and Culture
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August 26, 2010

A lot of companies want to know what's coming in the near future - what trends might result in profit, and how to dodge bad situations. Sphere Trading helps businesses do just that.The Waterford-based company specializes in trend forecasting for consumer and design firms. It also monitor's product innovation trends, assembling reports on everything from what will be the next in colors to what helps make people look up from their smart phones and notice advertising. The 10-year-old company counts a long list of Fortune 500 companies, manufacturers and national retailers as its clients.The company employs about a dozen people and two interns. Those employees do everything from traveling through trade shows to recognize trends and new customer bases. They also make their ways through about 10 key U.S. cities to see how the U.S. consumer is evolving."As the economy has changed so has our business model," says Mandi Mankvitz, social media director for Sphere Trending. "We know that a lot of trends won't come from just trade shows."The company is looking to expand into healthcare and automotive markets and hopes to hire a few people over the next year to meet new business needs.Source: Mandi Mankvitz, social media director for Sphere TrendingWriter: Jon Zemke

BBCetc helps SE Michigan start-ups attract millions in seed capital
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Community Development
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August 26, 2010

The people at BBC Entrepreneurial Training Corp like to use the words "Return On Investment" or ROI, which makes sense for a company that specializes in helping entrepreneurs and start-ups secure seed capital.The Ann Arbor firm's latest example is the 20 times ROI it is claiming the state has enjoyed through BBCetc's services. The company received funding from the state's 21st Century Jobs Fund to help early stage technology companies write applications for things like government grants. The end result so far has been $80 million in non-diluted funding (meaning the entrepreneurs didn't have sell part of the company for the cash) to 150 companies in the state since 2002 as part of the Statewide SBIR/STTR Consulting Services Program.One of the local companies that received this help was NeuroNexus Technologies. The Ann Arbor-based firm used BBC etc's training and consulting to land federal grant funding. "That money helps them develop the next generation of their products," says Lisa Kurek, managing partner of BBC etc.Other companies that have utilized BBC etc's services, which employs half a dozen people and about as many consulting partners, include Compendia Biosciences, T/J Technologies, NanoVir. The last is a start-up founded by ex-Pfizer scientists."They're moving quite rapidly down the development pipeline and are ready to secure their next round of funding," Kurek says.Source: Lisa Kurek, managing partner of BBC Entrepreneurial Training CorpWriter: Jon Zemke

Pontiac’s RazorThreat adds clients, staff
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Arts and Culture
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August 26, 2010

Greg Guidice isn't afraid of the rise in Internet crime. In fact he sees it as an opportunity. Of course, it helps that he is CEO of a computer security firm – RazorThreat."The cyber crime industry is larger than the illegal drug industry," Guidance says. "It's a $900 billion a year industry. In 2008, the private sector lost $1 trillion to cyber crime."Which is turning into a window of opportunity for the downtown Pontiac-based firm that only opens wider. The 4-year-old company started with three people and now employs five with an occasional independent contractor. More hires could be on hand in the next year as it continues to grow.RazorThreat has focused on expanding its revenues and profit margins, partly by attracting more public sector clients. It's now looking to partner with more technology firms, such as reseller who can distribute its product."We're also looking for strategic partners where our products are complimentary," Guidice says.Source: Greg Guidice, CEO of RazorThreatWriter: Jon Zemke

Biz accelerators, NEI team up for Accelerate Mich Innovation Comp
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Community Development
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August 26, 2010

They're calling it the biggest business plan competition in the world. They are the Business Accelerator Network for Southeast Michigan - Automation Alley, Macomb-OU INCubator, TechTown and Ann Arbor SPARK. It is the Accelerate Michigan Innovation Competition. What's at stake is $1 million in cash and services for local start-ups."This is going to be a great opportunity for southeast Michigan companies to make a pitch for some big rewards," says Dave Spencer, executive director of the Macomb-OU INCubator.The competition take place around the Big Chill hockey game between the University of Michigan and Michigan State University at Michigan Stadium on Dec. 11. Organizers plans to use that game as a draw for out-of-state alumni with significant business acumen and deep pockets into the local entrepreneurial ecosystem. The plan is to introduce local entrepreneurs and start-ups to these venture capitalists, angel investors and executive talent; highlight the local start-up scene and put a spotlight on entrepreneurial resources in the area, such as Automation Alley.The New Economy Initiative gave $750,000 to Ann Arbor SPARK to take the lead on the competition. It is open to start-ups and entrepreneurs from both inside and outside of the state that are willing to set up shop in Michigan. Those companies should be early-stage businesses and student concepts with long-term viability in the advanced materials, advanced transportation, alternative energy, homeland security and defense, information technology, life science, medical devices, next generation manufacturing and products and services sectors. Students attending any Michigan university or college can submit their business concepts in a separate category. For more information about the Accelerate Michigan Innovation competition, click here.Source: Dave Spencer, executive director of the Macomb-OU INCubatorWriter: Jon Zemke

GE invests $20M in Van Buren Township, creates 130 jobs
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Community Development
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August 19, 2010

A major international corporation is making a major investment in Metro Detroit now that General Electric is dropping $20 million into its Van Buren Township office.The 118-year-old company originally founded by Thomas Edison is setting up a proprietary development and manufacturing process center that should create 130 jobs over the next decade. GE Aviation will use the center to create commercial and military jet engine applications. It will also work with at least one local university to help further development of these applications.To help make this deal possible (GE was also considering making this investment at several of its other locations around the world) the Michigan Economic Development Corp agreed to give the multi-national corporation a $2.3 million tax credit over 10 years. Van Buren Township is also considering granting a tax abatement.GE already employs 533 other people at the site and expects to add more.Source: Michigan Economic Development Corp and General ElectricWriter: Jon Zemke

Global eServices & Solutions plans to hire in Troy
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Arts and Culture
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August 19, 2010

Global eServices & Solutions is a small business in Troy specializing in protecting other small businesses. Think of it and its founder, Ashraf Samuel, as the little entrepreneur that roared at the big, bad guys in IT. The 3-year-old firm specializes in providing IT security for other businesses. Its latest product provides a total package for small- and mid-sized businesses that goes beyond a small squad of long bowmen. It also provides online marketing tools and IT risk management services."We are growing because our company is unique with its services," Samuel says.The company has grown from a one-person operation to five people and an independent contractor who came on board over the last year to help Global eServices & Solutions handle its increased workload. It also plans to hire two more employees over the next year.Source: Ashraf Samuel, vice president of Global eServices & Solutions Writer: Jon Zemke

Metro Detroit auto firms and manufacturers to invest $55.6M, hire 605 workers
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Arts and Culture
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August 19, 2010

Automotive, manufacturing, and automotive manufacturing were all big winners in the latest round of job-creating tax breaks from the state of Michigan.The Michigan Economic Development Corp doled out $89.4 million in tax breaks to nine companies and two brownfield developments that promise to create up to 1,085 jobs over the next decade. Five Metro Detroit automotive and manufacturing firms received $55.6 million in tax abatements that are expected to create 605 jobs.One of the more prominent projects is a consolidation at Link Engineering that will create jobs in a new Dearborn location. The transportation engineering, testing, and manufacturing firm plans to invest $9.8 million over the next seven years while creating 59 new jobs. It was also looking at a site in Ohio, but chose to stay in Michigan with the help of a $789,787 state tax break and another one under consideration from the city of Dearborn.The 75-year-old family owned business plans to execute this consolidation and expansion by the end of the year. It employs 200 people and a handful of interns and independent contractors."We do a fair amount of work with Ford, so Dearborn is attractive," says Tim Duncan, vice president of global test operations for Link Engineering. "Plus its location. It's close to the airport."Among the other local projects:- Hallite Seals Americas plans to spend $7.4 million to expand its Wixom operations, which will retain 152 jobs and create another 60 over the next five years. The manufacturer of sealing devices received a $475,445 tax break. It was also considering another site in Texas.- KOSTAL Kontakt Systeme, an electric components manufacturing firm, will drop $27.1 million to relocate the existing production of its solar connector systems from Germany to Rochester Hills. It's a move that will create 247 new jobs, thanks to a $3.9 million state tax abatement over seven years.- Commercial-vehicle supplier Metalsa Structural Products received a $1.9 million tax break over seven years in exchange for a $1.9 million investment in Novi. The company will relocate its global commercial and research and development operations, creating 65 new jobs here. - Wolverine Assemblies will invest $8.4 million to set up a new office in Wixom that will perform value-added assemblies, sub-assemblies, testing, sequencing, and warehousing for various products. The investment, which has garnered a $785,166 state tax credit, is expected to create 174 jobs over five years. Source: Michigan Economic Development Corp and Tim Duncan, vice president of global test operations for Link EngineeringWriter: Jon Zemke

North Carolina-based Ignite Social Media opens downtown Birmingham office
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Arts and Culture
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August 19, 2010

It's been three years since Ignite Social Media spun out of Birmingham-based Brogan & Partners, and the start-up has returned to its roots with some jobs.The Raleigh, North Carolina-based firm recently opened up a satellite office in the same downtown Birmingham building as its parent company. Ignite Social Media has brought seven jobs along and expects to have a local staff of a dozen people or more within a year."We're growing very quickly," says Jim Tobin, president of Ignite Social Media. "We've basically doubled in size every year since we were formed."Ignite Social Media helps its customers filter through all of the noise in Facebook, Twitter, and other social media outlets while building and managing their brands. The company decided to tap Metro Detroit's deep talent pool to help make these things happen for their customers. The Birmingham office, where the COO is based, handles account service and media buying operations. "There is some really serious talent in southeast Michigan," Tobin says. "A lot of it grew from the auto industry."Source: Jim Tobin, president of Ignite Social MediaWriter: Jon Zemke

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