The Michigan Pre-Seed Capital Fund has sent out $1.5 million more in investments in six Michigan-based start-ups, including three that call Ann Arbor home.
AlertWatch, which is based in the
University of Michigan's Venture Accelerator, received a $250,000 investment from the
Michigan Pre-Seed Capital Fund. That money is helping the 2-year-old firm hit a couple of its major milestones, hire engineers and developers, and push the development of new products forward.
"This money is absolutely essential to our firm," says Justin Adams, CEO of
AlertWatch. "We raised a good amount of money from angels but there is a gap between where we could get without angel money and where we need to be."
AlertWatch is developing patient-monitoring software to help reduce medical errors. It currently employs four people after hiring two others in the last year. It is also looking to hire another software developer.
The other two Ann Arbor-based start-ups to receive Michigan Pre-Seed Capital Fund investments are:
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IROA Technologies, which develops metabolic profiling tools used to create unique chemical signatures in molecules for accurate biochemical analysis and quantitation in multiple applications including general research, bioprocess, toxicology and diagnostics.
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Patient Provider Communications, which is creating a multilingual interactive bedside care system to improve provider response to and fulfillment of patient requests.
Source: Justin Adams, CEO of AlertWatch
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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