Farmington - Partner City

Happy’s Pizza expands nationally from Farmington Hills home

By Newsroom

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February 21, 2013

Metro Detroit is known as the home to some of the titans of the pizza industry. Does the region have one more pizzeria powerbroker ready to step up? The people building Happy's Pizza think so. The Farmington Hills-based company just opened its 100th franchise in Detroit this month. It is adding 20-30 franchises annually and has pizzerias across the country in states like California, Nevada, Indiana, Ohio and Illinois. The bulk of the company's franchises are in Michigan, which has 60. "In 2008, we started to grow at a trajectory of 30 stores a year," says Christina Rice, vice president of franchise development for Happy's Pizza. "I have seven stores under construction right now. We have 20-30 set to come online this year." Happy's Pizza got its start in 1996 when Happy Asker opened his first location in northeast Detroit. The then 18-year-old, who is still the CEO, spent the first part of his adult life building the business to 30 franchises across Michigan while still maintaining a growing presence in the city of Detroit. The firm now has a dozen franchises in all corners of the Motor City and made the decision to open the 100th location in the city that launched it. Each Happy's Pizza employs 15-30 people, depending on the size of the delivery fleet. The company also has a staff of 50 employees in Farmington Hills, after hiring half a dozen more in 2012. In all, the company has created in the area of 700 new jobs over the last year. Source: Christina Rice, vice president of franchise development for Happy's Pizza Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Beringea to co-lead $180M Michigan Growth Capital Partners fund

By Newsroom

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Community Development

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February 14, 2013

Farmington Hills-based Beringea and Credit Suisse will co-manage the newly launched Michigan Growth Capital Partners II, a venture capital fund focused on investing in promising new economy firms based in Michigan. The $180 million fund will be deployed over the next 4-5 years, investing in companies in the following sectors: advanced materials and manufacturing, health care and life sciences, media and communications, specialized consumer goods, homeland security, IT and clean technology. "We have always been a bit ahead on clean tech," says Charlie Rothstein, founder & senior managing director of Farmington Hills-based Beringea. The Michigan Growth Capital Partners II fund, which was capitalized by the Michigan Strategic Fund, follows the original Michigan Growth Capital Partners fund launched in 2008. That fund made 28 investments, including some sizeable investments in a number of locally based companies, such as Livio Radio and ReCellullar. Its biggest exit has been from Accuri Cytometers, an Ann Arbor-based start-up that was recently acquired for nearly $300 million. Source: Charlie Rothstein, founder & senior managing director of Farmington Hills-based Beringea Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

ReapSo takes customer loyalty mobile app public

By Newsroom

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General

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February 14, 2013

ReapSo launched its customer loyalty app last week. The start-up is initially focusing on Apple users in the downtown Royal Oak market. The Farmington Hills-based company and its team of three people have created a mobile app that helps local businesses increase sales using things like traditional customer loyalty rewards programs, newer technology like QR codes and gamification techniques to keep customers engaged. The app also takes care to protect customer's privacy and makes it easy for merchants to use by making sign-ups free and easy. "We get paid from our merchants when a user comes in and pays for a product," says Steve Valentine, co-founder of ReapSo. "There is no risk. There is no long-term contract for them to sign." ReapSo has signed up 30 merchants in Royal Oak, mostly restaurants and bars in downtown. The start-up's market research shows that about 60 percent of people who frequent downtown Royal Oak use Apple products. The focus on eateries aims to leverage the frequency of spending money on food and drink in the city's center. "I might not buy a shirt everyday, but I am eating everyday," Valentine says. Source: Steve Valentine, co-founder of ReapSo Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Lotus Bank’s expansion includes new Farmington branch

By Newsroom

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General

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February 14, 2013

Lotus Bank will open its second branch in Farmington Hills later this month, a move that will help the Novi-based bank expand its staff by seven people in 2013. "We needed more retail locations and space from a personnel standpoint," says Neal Searle, president & CEO of Lotus Bank. The 6-year-old bank has hired three people in the last 30 days and now employs 18. Another four employees will be added to the payroll when the Farmington Hills branch opens within two weeks. Lotus Bank is a full-service bank with $82 million in assets and $71 million in deposits. It grew by 17 percent in 2012 and expects to continue expanding its reach in Metro Detroit this year. The bank, which is 80-percent owned by Indian-Americans, has a five-year strategic plan of opening one new branch annually and its sights are set on suburbs like Troy, which has a large Indian-American population, in the near term. "This is an opportunity to take it to the next level," Searle says. Source: Neal Searle, president & CEO of Lotus Bank Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Climate Technologies Corp continues rebound in Farmington Hills

By Newsroom

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Economic Development

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January 17, 2013

Climate Technologies Corp. is continuing to enjoy the fruits of an economic rebound as the Farmington Hills-based company pushes forward its transformation from auto-focused firm to green-tech business. The company's revenue is up modestly over the last year as it continues to develop projects that help its climate-control technology, which captures toxic gases and concentrates them so they can be used in things like fuel cells. It is also working in co-generation CHP in heavy industry and some alternative energy projects. "It turned out to be a solid foundation to build on," says Walt Zimmerman, CEO of Climate Technologies Corp. "We have made a lot of strides over the last couple of years to do clean-and-green projects." That has allowed Climate Technologies Corp to make a hire over the last year and bring on a few more independent contractors. It now has a staff of six employees, one intern and three independent contractors. Zimmerman expects to see significant growth in 2013 because of the prospects of more work for his company in the near future. "There are a number of projects that are at a proposal point," Zimmerman says. "We believe our customers are ready to go forward." Source: Walt Zimmerman, CEO of Climate Technologies Corp Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Virtual Interactive Agency helps build start-ups at incubators

By Newsroom

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Entrepreneurship

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December 20, 2012

Sixteen years ago Joey Silvian came to the realization he couldn't work for anyone else but himself. That's when he started Virtual Interactive Agency, a business consulting firm based in Farmington Hills. "I didn't like the politics and backbiting and everything that comes with corporate life," Silvian says. "At least here I can control my relationship with the client." Silvian's business now provides work for four people and the occasional intern. It has added one new person over the last year and draws from a large stable of independent contractors to handle projects. For years Silvian worked with aspiring entrepreneurs to workout the kinks in business models and generate sales. In recent years Virtual Interactive Agency has been doing more work with small incubators like Ann Arbor SPARK, helping consult with budding start-ups in the incubator's pipeline. "The evolution has been from the end client to the organization that services those end clients," Silvian says. Source: Joey Silvian, founder of Virtual Interactive Agency Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

ReapSo preps to launch customer loyalty app in Farmington Hills

By Newsroom

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General

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December 13, 2012

ReapSo works with the tagline "Get What You Want" and plans to begin delivering on that promise in early 2013. The Farmington Hills-based start-up is creating a mobile platform that specializes in customer loyalty, connecting consumers with the brands they want. The app is set for release next year and the start-up's team is focusing its efforts on helping local consumers connect with Metro Detroit-based small- and medium-sized businesses. "We're going to start with rewards and move it forward as a loyalty program," says Bill Wildern, CEO of ReapSo. Wildern is a serial entrepreneurial who also owns HYDRA Professionals, a business turn-around firm. He and his co-founder, Steve Valentine, and their first employee, Jeff Heng, all have an automotive industry background and leverage that to launch ReapSo. "It's a couple of engineers trying to solve a challenge," Wildern says. ReapSo will launch in southeast Michigan and Wildern expects to grow the company regionally throughout next year. Source: Bill Wildern, CEO of ReapSo Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Leila Matta Art Programs Manager at Mercedes-Benz Financial Services, sits in a piece of functional art that is on display in the company’s headquarters lobby. All of the art shown here is on loan from students and graduates of Cranbrook Academy of A

An Inspired Workplace

By Melinda Clynes

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General

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December 13, 2012

You might find financial services and art culture strange bedfellows, but at Mercedes-Benz Financial Services in Farmington Hills it is de rigueur. MBF workers aren't only inspired and challenged by their art gallery-like surroundings, they are encouraged to become active participants in Metro Detroit's arts community.

Dearborn, Farmington Hills, Novi awarded sustainability award

By Newsroom

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Arts and Culture

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December 13, 2012

Little by little Metro Detroit communities are adopting sustainable practices. Huzzah! Excerpt: "The Southeast Michigan Council of Governments presented a Sustainable Community Recognition Program Award at the City Council meeting Dec. 4. According to SEMCOG, “sustainability is about achieving economic prosperity while protecting the environment and providing a high quality of life for residents.”" Read the rest here.

Beringea expands staff, investment portfolio

By Newsroom

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Economic Development

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November 15, 2012

Beringea is adding to both its company portfolio and staff, taking advantage of the Michigan Venture Fellowship Program to grow its office of 25 people. "We needed more hands on the oars," says Charlie Rothstein, founder & senior managing director of Beringea. "(Our Michigan Venture Fellows Program fellow) brings experience and great analytical ability to the team. It's a reflection that we are a growing business and we wanted to add to our team here in Michigan." Beringea is Michigan's largest venture capital firm. It's based in Farmington Hills but also has an office in London. It make late-stage investments and has a portfolio of about 60 companies. There are a number of Michigan-based firms in that mix, including Ann Arbor-based Molecular Imaging Research and Mophie, a smartphone accessory maker that is hitting its stride. "It will do $115 million in sales volume this year," Rothstein says. "It's doing fantastically well." The Michigan Venture Fellowship Program is a new talent-placement initiative headed up by the Michigan Venture Capital Association. This is its first year, placing four individuals looking to break into the venture capital investment sector with prominent local VCs, like Beringea and Detroit Venture Partners. "It's a great model that others can follow," Rothstein says. "We are using it to tap into the talent we have here in Michigan." Source: Charlie Rothstein, founder & senior managing director of Beingea Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.