Navigation Links
Michigan Pre-Seed Capital Fund Reports Investments Totaling $2.5 Million in 2010
Date:1/5/2011

ANN ARBOR, Mich., Jan. 5, 2011 /PRNewswire/ -- Several Michigan companies recently received investments from the Michigan Pre-Seed Capital Fund, pushing the total investments made through the Fund to over $11.6 million.  To date, 52 Michigan companies have received seed funding from the Michigan Pre-Seed Capital Fund, a collaborative effort of Michigan's SmartZones.  

"The Michigan Pre-Seed Capital Fund proves that innovation is thriving throughout the state," said Skip Simms, administrator of the fund programs and interim CEO of Ann Arbor SPARK.  "Companies that received support from the Michigan Pre-Seed Capital Fund are currently employing 285 people throughout the state and have attracted outside investment.  Matching support from other funding sources totaled $16.4 million for these Michigan companies."  

In 2010, Advanced Battery Concepts, Armune BioScience, Inc., Current Motor Company, Downstream, LLC, Intervention Insights, Innovative Surgical Solutions, InfoReady Corporation, InPore Technologies, Inventure Enterprises, NextCAT, Inc. and Tangent Medical Technologies received $2.575 million from the Michigan Pre-Seed Capital Fund.  These companies will use the funding to support commercialization efforts.  Specific innovations include:

  • Advanced Battery Concepts, LLC, Lansing: Advanced Battery Concepts is driving innovative technology, branded GreenSeal™, into the large-format, battery industry enabling smaller, lighter and longer life batteries.  GreenSeal™ batteries are cost-effective for storage applications and have lower impact on the environment than traditional large-format batteries.
  • Armune BioScience, Inc., Kalamazoo: Armune BioScience was formed to develop and commercialize high value, protein signature-based diagnostic tests for prostate, lung and breast cancers that will allow physicians and patients to make better treatment decisions.
  • Current Motor Company, Ypsilanti: Current Motor has developed a line of electric motorcycles and mopeds designed to provide urban and suburban commuters with practical, affordable, zero-emissions electric vehicles (EVs) that do not use oil. Current Motor's scooters have a range of up to 80 miles and a top speed of 70 mph. 
  • Downstream, LLC, Zeeland: Web application that can help an individual, business, group or community retrieve and backup their digital life, deliver it back to them, share it with others and provide trends to help better understand them.
  • Intervention Insights, Grand Rapids: Diagnostic software that delivers personalized cancer information to physicians with insight into patient specific treatment options
  • Innovative Surgical Solutions, Royal Oak: The medical device startup, founded by Chris Wybo and Stephen Bartol, created a monitoring system for spinal surgeries. NeuralMAS monitors nerve location during invasive spinal procedures, helping surgeons save time and avoid complications. The product is now fully developed and made Innovative Surgical Solutions a semi-finalist at the Accelerate Michigan Innovation Competition.
  • InfoReady Corporation, Ann Arbor: InfoReady offers SaaS model software to help companies find and access grants, and collaborate.
  • InPore Technologies, East Lansing: Silapore particles were developed and patented by Michigan State University by Dr. Thomas Pinnavaia. Tom then founded InPore Technologies, Inc. for the purpose of providing Silapore particles to the plastics industry, obtained an exclusive license to the MSU technology, and built a team to take the product to market.
  • Inventure Enterprises, Inc., East Lansing: Its idView product raises the standard for securing and streamlining workforce screening and background checks for states.
  • NextCAT, Inc., Detroit: NextCAT is commercializing a series of heterogenous catalysts developed by the National Biofuels Energy Lab at Wayne State University, for use in biodiesel production. These new catalysts allow producers to use less expensive raw materials in the production of biodiesel, and simplify the production process. Today, over 80% of the U.S. biodiesel producers sit idle due primarily to very high feedstock costs. NextCAT has a world-class team of catalysis experts, an experienced management team, and strategic partners.
  • Tangent Medical Technologies, Ann Arbor: Tangent Medical Technologies, Inc., is a seed stage medical device development company formed in 2009 as a spinout from the University of Michigan's Medical Innovation Center (MIC) fellowship program. Tangent's patent-pending Novacath™ was created to address health and safety shortcomings of existing catheter stabilization products for peripheral intravenous (PIV) fluid/medication delivery systems.

The Michigan Pre-Seed Capital Fund, a collaborative effort of Michigan's SmartZones, is an equity fund that invests in technology-based companies to support business formation and acceleration. Ann Arbor SPARK serves as the Fund's administrator.

To qualify for the Michigan Pre-Seed Capital Fund, start-up companies must be based on a technology in one of the state's identified competitive technologies and have the sponsorship of a local SmartZone. In addition to SmartZone sponsorship, companies must have received grant, angel or venture capital funding as a match to the Michigan Pre-Seed Capital Fund investment.  

The Michigan Pre-Seed Capital Fund is an equity investment fund that receives the same returns as the third party investor.  The returns the Michigan Pre-Seed Capital Fund receives from its investments will be redeployed by the Fund to continue its mission of helping start ups with their first round of capital.


'/>"/>
SOURCE Ann Arbor SPARK
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. SurgiCount Medical Announces the Successful Implementation of the Safety-Sponge® System at the University of Michigan Health System
2. Exciting Healthcare News for Women of Mid Michigan
3. Southeastern Michigan Gets First Ever FDA Approved Device That Destroys Fat Cells ... Without Surgery
4. Business Accelerator Network for Southeast Michigan Announces Accelerate Michigan Innovation Competition
5. Michigan Home Medical Providers Call on Congress to Preserve Homecare as an Option for Seniors and People With Disabilities Under Medicare
6. University of Michigan Wolverine Venture Fund Invests in Delphinus Medical Technologies
7. Karmanos Cancer Center Surgeon is Michigans First to Perform Transoral Robotic Surgery on Patients
8. Diabetics Twice as Likely to Have Hearing Loss; Michigan HearUSA Centers to Offer Free Hearing Screening and Diabetes Video in March
9. HearUSA Introduces AARP Hearing Care Program for Americans Aged 50-plus in Michigan Today
10. Rev. Nick Hood, III Asks Southeast Michiganders Not to Use Guns During New Years Eve Celebrations
11. Michigan Life Science and Innovation Center Opens in Former Pfizer Facility
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... 24, 2016   Pulmatrix, Inc ., (NASDAQ: ... inhaled drugs, announced today that it was added to ... its comprehensive set of U.S. and global equity ... an important milestone for Pulmatrix," said Chief Executive Officer ... of our progress in developing drugs for crucial unmet ...
(Date:6/24/2016)... 24, 2016  Arkis BioSciences, a leading innovator ... more durable cerebrospinal fluid treatments, today announced it ... funding is led by Innova Memphis, followed by ... private investors.  Arkis, new financing will accelerate the ... market release of its in-licensed Endexo® technology. ...
(Date:6/23/2016)... Research and Markets has announced the addition of ... report to their offering. ... kidney failure, it replaces the function of kidneys by removing ... thus the treatment helps to keep the patient body,s electrolytes ... Increasing number of ESRD patients & substantial healthcare expenditure ...
Breaking Medicine Technology:
(Date:6/27/2016)... Lafayette, California (PRWEB) , ... ... ... a pioneer in the patient payment industry today announced its strategic partnership ... and health system workflows. , The two companies’ proven, proprietary technology combine ...
(Date:6/27/2016)... ... ... TopConsumerReviews.com recently awarded their highest five-star rating to Best Buy Eyeglasses, an ... United States and Canada wear eyeglasses. Once considered to be a purely functional part ... fashion statement. Even celebrities use glasses as a way of creating an iconic image—like ...
(Date:6/26/2016)... ... June 26, 2016 , ... On June 10-11, 2016, A Forever Recovery, ... Festival and World’s Longest Breakfast Table in Battle Creek, MI, where the rehabilitation facility ... home to some of the world’s leading providers of cereal and other breakfast foods. ...
(Date:6/26/2016)... ... June 26, 2016 , ... PawPaws brand pet ... product that was developed to enhance the health of felines. The formula is all-natural ... two main herbs in the PawPaws Cat Kidney Support Supplement Soft Chews ...
(Date:6/26/2016)... Clarkston, Michigan (PRWEB) , ... June 26, 2016 ... ... respect to fertility once they have been diagnosed with endometriosis. These women need ... but they also require a comprehensive approach that can help for preservation of ...
Breaking Medicine News(10 mins):