Software firm uwemp shares in $104K microloan pot
Software companies from different ends of Metro Detroit have taken two of the three microloans available in the latest round of funding from the Michigan Microloan Fund Program.Bloomfield Hills-based uwemp and KnowledgeWatch of Ann Arbor are splitting $104,000 with AWGET in Okemos. The microloans will support commercialization of their products.”It’s nearly all going into technology development,” says Jordan Wolfe, CEO of uwemp.Its main product is Confidence-Based Learning, a web-based learning engine. Confidence-Based Learning offers students engaging and relevant curricula and programs to equip them with the necessary skills to succeed in today’s competitive economy.KnowledgeWatch is developing software that aggregates, analyzes and sorts content in a way that is similar to Google searches. Among its target market are assemblers of trade publications or hobby sites (which number in the tens of thousands).The microloans provide funding for start-ups to use for product commercialization and business growth. The $1.5 million program will make anywhere from 2-4 loans of a few thousand dollars each per month for 2010. That’s another 24-48 fledgling local businesses receiving financing during a time when capital for small businesses is almost non-existent.Source: Ann Arbor SPARK and Jordan Wolfe, CEO of uwempWriter: Jon Zemke
Software companies from different ends of Metro Detroit have taken two of the three microloans available in the latest round of funding from the Michigan Microloan Fund Program.
Bloomfield Hills-based uwemp and KnowledgeWatch of Ann Arbor are splitting $104,000 with AWGET in Okemos. The microloans will support commercialization of their products.
“It’s nearly all going into technology development,” says Jordan Wolfe, CEO of uwemp.
Its main product is Confidence-Based Learning, a web-based learning engine. Confidence-Based Learning offers students engaging and relevant curricula and programs to equip them with the necessary skills to succeed in today’s competitive economy.
KnowledgeWatch is developing software that aggregates, analyzes and sorts content in a way that is similar to Google searches. Among its target market are assemblers of trade publications or hobby sites (which number in the tens of thousands).
The microloans provide funding for start-ups to use for product commercialization and business growth. The $1.5 million program will make anywhere from 2-4 loans of a few thousand dollars each per month for 2010. That’s another 24-48 fledgling local businesses receiving financing during a time when capital for small businesses is almost non-existent.
Source: Ann Arbor SPARK and Jordan Wolfe, CEO of uwemp
Writer: Jon Zemke
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