Small Company Innovation Program helps U-M reach out to small biz

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Innovation News
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February 25, 2009

The University of Michigan is reaching out to small businesses to see if there is a way they can help each other through partnerships in the university's Small Company Innovation Program.The idea behind the pilot program is to let the university's College of Engineering work with local small businesses on research projects. It basically would open the university's faculty and student resources to these businesses. To make it financially feasible, the university will match $30,000 of support and waive indirect costs for five projects. This will support the work of a member of the university faculty and one graduate student research assistant. For information about the program, click here. Source: University of MichiganWriter: Jon Zemke

Arboretum Ventures raises $73 million for latest fund
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Economic Development
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February 25, 2009

Ann Arbor is becoming, more and more, Michigan's venture capital capitol, proof of which is clearly visibly at Arboretum Ventures.The Ann Arbor-based firm recently closed out its latest investment fund worth $73 million. This fund is triple the size of Arboretum's first, which was worth $24 million. Managing Directors Jan Garfinkle and Tim Petersen will manage the money with the help of five other employees.Garfinkle and Petersen were able to recruit some high-profile investors, including Chris Rizik. The co-founder of Ardesta is now the CEO of the Detroit Renaissance Venture Capital Fund, which invested $5 million into Arboretum's latest fund."Arboretum Ventures is one of the brightest young venture capital firms in the nation, and one that has shown that great investment and company-building opportunities exist in the Midwest," Rizik says.The difference between Arboretum and Renaissance is that Arboretum invests in early stage private companies in the healthcare and life science industries. Reniassance (which has offices in both downtown Detroit and Ann Arbor) is a fund for venture capital funds.Arboretum focuses on medical device, diagnostic and healthcare information technology companies. Although most of these companies are in the Midwest, Arboretum does make investments across the nation. It has made 17 investments so far. Some of its success stories include Ann Arbor's HealthMedia, which was acquired for a hefty sum by corporate behemoth Johnson & Johnson last year. Another is Detroit-based Asterand, which is traded on the London Stock Exchange. Source: Arboretum VenturesWriter: Jon Zemke

Ypsilanti-born ShadePlex starts to grow up with investment
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Innovation News
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February 25, 2009

The important thing to keep in mind isn't that ShadePlex now calls Toledo its home. It's that the idea for the start-up was born and nurtured in Ypsilanti.Concentrate first reported on ShadePlex a year ago when it was just a start-up started among friends with an idea of putting solar cells on things like tents, struggling to get it off the ground. They're doing that now, however, from the University of Toledo's Energy Incubator.The company made the move because it received a $50,000 product development grant from Toledo-based Rocket Ventures. Start-ups usually go where the venture capital firms that invest in them tell them to go. One of the company's co-founders, Brian Tell, still lives in Ypsilanti. The other co-founders live in Downriver and northern Ohio. The company hopes to hire 20-25 people in the next three years and hit $30 million by 2013. ShadePlex is developing solar cells fabrics that can generate electricity. The idea is that putting them on something like a tent will allow a business or homeowner to generate more electricity somewhere that before only helped create a heat island.Source: Brian Tell, president and co-founder of ShadePlexWriter: Jon Zemke

Get set for veterans, University of Michigan told
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In The News
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February 25, 2009

Some University of Michigan students are pushing for university policies friendlier to veterans.Excerpt:ANN ARBOR -- A student group wants the University of Michigan to become the first major university nationwide to implement a host of veteran-friendly policies, such as waiving out-of-state tuition and establishing a new resource center for vets.Lobbying the U-M board of regents on Thursday, U-M senior Derek Blumke said the university needs to prepare for an influx of veterans after the August implementation of the "21st Century GI Bill." But he argued that too many roadblocks exist for veterans and urged regents to extend applications for them and extend college credits for skills they learned in service."As of today, no other 'Top 25' school has taken steps such as these," said Blumke, 28, of Alanson, a technical sergeant with the Battle Creek Air National Guard who served three tours in Afghanistan while he was in the Air Force. "Hopefully, veterans will stay here, and they will bring the technical expertise and skills they gained when they were active military." Read the rest of the story here.

Green thumb itching? Ypsilanti gardening group Growing Hope has seeds of an idea
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Economic Development
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February 25, 2009

Ypsilanti’s Growing Hope is looking to plant a seed or two near you soon.Excerpt:Suffering from spring fever though it's still February? Consider this proposition: Growing Hope will offer grow-light kits to community members willing to help start seeds for the Ypsilanti-based nonprofit.Without enough greenhouse space to start all the plants it needs, the group has decided to assemble more kits and send them out into the community."You can use our lights to start your own sprouts as long as you use half the space to grow for us," said Dan Bair, urban farm manager for Growing Hope, which runs the downtown farmers market, community garden and education programs in Ypsilanti.Read the rest of the story here.

Moving week is one for the books in Dexter
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General
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February 25, 2009

Library books are moving into a new home in downtown Dexter.Excerpt:Chelsea Anderson, of Dexter, was surprised to find the Dexter District Library closed Monday morning, but the closure wasn't for President's Day.Returning books and CDs, she walked right through the open front door before she was told that the library was closed for the move to its new location just off Main Street in downtown Dexter.Read the rest of the story here and how the Ypsilanti District Library won an award here.

University of Michigan, General Motors celebrate partnership to create electric car batteries
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In The News
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February 25, 2009

One of the worlds biggest universities is celebrating its relationship with one of the world’s largest corporations.Excerpt:The Chevrolet Volt, the plug-in electric vehicle that General Motors Corp. hopes will revive its sagging fortunes, will get a jolt from the University of Michigan.On Friday, GM executives and university engineers gathered on North Campus to celebrate a new partnership that includes the creation of a laboratory in Ann Arbor where U-M faculty and students will conduct research on advanced batteries. The batteries are seen as key to the success of the electric vehicle.Anticipated to open next month in space off Victors Way on the city's south side, the laboratory will be used to improve the durability and longevity of the lithium ion batteries. To meet consumers' expectations, the batteries will have to survive the daily stresses of driving and pounding from the elements, but they haven't been exhaustively tested, researchers say.Read the rest of the story here.

Arboretum rising on list of Midwest’s influential VC firms
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Economic Development
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February 25, 2009

Local venture capital firm Arboretum Ventures is becoming a bigger and bigger player in the U.S.Excerpt:Ann Arbor-based Arboretum Ventures is emerging as Michigan's leading venture capital firm during an economic crisis that threatens to cramp the state's efforts to build a vibrant VC industry.Arboretum has officially finished fundraising for its second fund. The firm, led by managing directors Jan Garfinkle and Tim Petersen, raised $73 million - more than three times the size of its $24 million first fund, which closed financing in 2005. They've got room to make another 10 investments or so in the next two-three years.For Garfinkle and Petersen, the new fund immediately places them near the top of the list of the Midwest's most influential venture capitalists. In the midst of the global economic crisis, venture capitalists have struggled to raise financing from even their most dependable institutional backers.Read the rest of the story here and more about local venture capital here.

WCC Is Cookin’
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Healthy Communities
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February 25, 2009

Food, glorious, food. What more could we ask for? Washtenaw Community College is cashing in on the culinary craze, attracting more and more students to its Culinary And Hospitality Management Program. While their grads might not be destined for Iron Chef, there's a good chance they are destined for a job. Plus they get to eat their homework. How cool is that?

U-M plans to upgrade East Quad, lab space, utility tunnels
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Community Development
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February 25, 2009

The University of Michigan has OKed more upgrades for the school's campus, including millions of dollars in projects for the university's dorms, laboratories, hospital and utility tunnels.The university plans to spend $2.1 million renovating the 11,300-square-foot auditorium in East Quad. The venue, built in 1970, is used for for musical and theatrical petformances, and for poetry readings. The work will improve the facility's technology, lighting, stage, seats and architectural finishes. A vertical lift and second fire exit will also be added to make the auditorium compliant with the Americans with Disabilities Act and safety codes. Work is set to begin this fall.About $6.6 million will be spent fixing the university's tunnel system. Those tunnels house things like electric lines and water pipes. About 600 feet of tunnels and 125 feet of pipes will be replaces, starting this fall.Another $1.2 million will be spent modernizing the Environmental and Water Resources Engineering Building. Approximately 8,300 gross square feet of existing student laboratory will be reconfigured into three new research laboratories for faculty and students. Work is also set to start this fall.Not to be left out, the University of Michigan Hospital will receive $3.25 million in upgrades for its air-conditioning system. That project is slated to begin in the spring of 2010.Source: University of MichiganWriter: Jon Zemke

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