Ann Arbor SPARK's 2009 Results
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Ann Arbor SPARK's economic development efforts to attract and retain businesses in the region, and support jobs creation, generated meaningful results in 2009. More than $147 million in new investment commitments were made through Ann Arbor SPARK's work, in conjunction with state and regional partners; the creation and retention of over 3,200 jobs were committed by companies assisted by Ann Arbor SPARK.
Throughout 2009, Ann Arbor SPARK created economic opportunities in the region through 34 projects:
- 11 MEGA state tax credits to companies, including infrared detector company Dexter Research Center, Inc., IT call and support center, Systems in Motion and hybrid battery testing developer AVL Powertrain.
- Seven companies were attracted to the Ann Arbor area, committing 1,522 jobs and over $37,500,000 in investment.
- Total of $147,338,238 in committed capital investments in the Ann Arbor region.
Ann Arbor SPARK has dedicated resources and continues to focus on job creation, retention and attraction throughout the region:
- 34 projects resulting in 2,118 new jobs committed through employers and the retention of 1,133 jobs.
- 887 jobs posted through Ann Arbor SPARK by 323 companies.
- Over 4,200 job seekers assisted with employment searches.
In 2009, Ann Arbor SPARK's business attraction, expansion and retention efforts resulted in 33 businesses choosing to locate and expand in the region.
Ann Arbor SPARK's Business Accelerator, which provides business acceleration funding, business and life science incubators, and entrepreneurial education and talent services, drove entrepreneurial growth and success in the region in 2009.
- 61 companies received business acceleration services, including business planning, marketing, patent and intellectual property acquisition, business introductions and funding preparation services.
- 78 companies were assisted as incubator tenants at Ann Arbor SPARK's Central and East locations as well as the Michigan Life Science and Innovation Center.
- 28 companies received funding through the Michigan Pre-Seed Capital Fund and the Michigan Microloan Fund Program, both administered by Ann Arbor SPARK. The combined total invested through the funds administered by Ann Arbor SPARK was $3,652,500.
Ann Arbor SPARK's 2006 - 2009 results:
- 135 project successes, generating more than $1 billion in new investment commitments.
- 9,172 new job commitments and 6,873 jobs retained.
- Assisted 216 innovation start-ups.
- 42 total investments through the Michigan Pre-Seed Capital Fund totaling $8.93 million.
- 16 investments through the Michigan Microloan Fund Program, totaling $661,500.
- 78 tenants in three regional incubators.
- Leveraged community investments totaling $32.5 million, through foundation, Federal and State grants, and Michigan Innovation Equipment Depot donations.
- Assisted 1001 companies (794 unique) with 2,781 job postings.
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$765,500 Awarded in Microloans to 19 Companies
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The $1.5 million Michigan Microloan Fund Program currently includes three distinct microloan funds. Through the Michigan Microloan Fund Program, $225,000 is available to start-ups via the Eastern Washtenaw Microloan Fund, $1 million is available through the Michigan Pre-Seed Capital Fund from the 21st Century Jobs Fund administered through the Michigan Economic Development Corp, and $275,000 is available for companies located in the City of Ann Arbor via funding from the Ann Arbor/Ypsilanti Local Development Financing Authority (LDFA).
Since its inception last year, the Michigan Microloan Fund Program has awarded $765,500 in microloans to these 19 companies:
RealBio Technology Inc. - Kalamazoo
Advanced Battery Concepts, LLC - Mount Pleasant/Center for Applied Research & Technology
FreeStride Therapeutics Inc. - Ann Arbor - Ypsilanti
Procuit Inc. - Ann Arbor - Ypsilanti
Research Essential Services, LLC - Ann Arbor - Ypsilanti
Beholztech, Inc. - Ann Arbor - Ypsilanti
Allinnova LLC - Ann Arbor - Ypsilanti
Solarflex - Automation Alley
The Whole Brain Group, LLC - Ann Arbor - Ypsilanti
New Eagle, LLC - Ann Arbor - Ypsilanti
Diesel Reformer, Inc. - Automation Alley
RealKidz, Inc. - Ann Arbor - Ypsilanti
MemCatch - Ann Arbor - Ypsilanti
CTC Holdings Inc. - Ann Arbor - Ypsilanti
Energy Management Devices LLC - Oakland University Incubator
Motor City Wipers, LLC - Sterling Heights
Local Orbit, LLC - Ann Arbor - Ypsilanti
Buycentives, LLC - Ann Arbor - Ypsilanti
CIMple Integrations, Inc - Lansing Regional
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| Shifting Gears Graduates Second Cohort
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The Shifting Gears program recently graduated its second cohort of highly experienced professionals who are in the process of transitioning from "large company" to "new economy" opportunities. They success-
fully completed the innovative five month development program that includes executive education, mentoring, a business simulation, a start-up internship, mock interviews and networking lunches with local second stage companies. Ann Arbor SPARK has also been working with a number of Oakland County organizations to help expand the program outside of Washtenaw County. The first Oakland County program is expected to launch in March 2010.
There were 42 graduates from the first two cohorts and 60% have found exciting opportunities or started their own venture. Graduates have taken jobs at companies such as Accuri Cytometers, Adaptive Materials (AMI), Compendia Bioscience, MyBuys, Root Learning and Stanford Research Institute (SRI).
The third Shifting Gears cohort based at SPARK is underway and the fourth cohort will take place in September 2010. Information sessions about the program will begin in July with dates available in June.
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SPARK is Accepting Entrepreneur Boot Camp Applications
Entrepreneur Boot Camp
is an intensive and instructive way for start-ups to gain critical
feedback and advice about their business model, management team,
competitive positioning, market strategy and other key elements that
determine success or failure.
Based on advice received during
camp, former Boot Campers have gone on to win business plan
competitions, secured funding, improved their business model, and got
connected to advisors and other key talent.
Boot Campers spend
two days and evenings learning how to identify critical issues for
their business plan. Campers then receive an additional three months of
after care, including continued mentoring, networking events and
business-critical introductions.
Boot Camp takes place twice per year. The upcoming camp is May 6 and 7. The application deadline is April 1. APPLY HERE. Watch this short video to see what Boot Camp's all about.
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