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Tue July 19, 2011
Michigan high-tech start-ups get funding
Michigan Smartzones and Ann Arbor SPARK helped eight high-tech start-up companies get money to help accelerate their businesses. The Michigan Pre-Seed Capital Fund program matched 1-point-8-million-dollars in outside investments with hopes that the companies create jobs and stimulate the economy. They have invested more than 13-point-4-million-dollars in 62 Michigan companies to date.
Skipp Simms manages the Michigan Pre-Seed Capital Fund at SPARK. He says the program has made great use of state capital.
"It’s 21st century jobs fund money and we think that it certainly is one of the programs that is already delivering some pretty significant returns to the state on this economic development type investment," Simms said.
The Michigan Pre-Seed Capital Fund is in its third year.
The eight companies getting funding are:
- ArborWind, Ann Arbor
- Arbor Plastic Technologies (APT), Bloomfield Hills
- LEID Products, Auburn Hills
- Practical EHR Solutions, Ann Arbor
- RetroSense Therapeutics, Ann Arbor
- Reveal Design Automation, Ann Arbor
- Seedus Biotech, Grand Rapids
- Zipments, Holland
- Amelia Carpenter - Michigan Radio Newsroom