Ann Arbor SPARK joins regional economic development initiative

Ann Arbor SPARK has become one of the Big Four business accelerators in Metro Detroit, now that it is a founding member of the new Business Accelerator Network for Southeast Michigan, a regional collaborative to foster local entrepreneurs and start-ups.Ann Arbor SPARK will partner with Automation Alley, Macomb OU INCubator and TechTown. The four organizations will share best practices, host events, foster business plan development, and leverage funding with the help of a $3 million grant over three years from the New Economy Initiative.”I think this will be one of the most catalytic events in southeast Michigan,” says David Egner, executive director for the New Economy Initiative. He adds that for the region to be great, “We need to embrace the notion that we need to grow our own.”Growing its own and working regionally is nothing new to Ann Arbor SPARK. The business accelerator has made a name for itself nationally as a successful incubator for start-ups rooted in the new economy. It also operates a small business incubator in Wayne County. However, its leadership has the state of the region on its mind and doesn’t want to rest on its laurels in its own little fiefdom. It wants to help that rising tide raise its boat and its neighbor’s boat.”We understand the need to be a regional resource,” says Mike Finney, executive director of Ann Arbor SPARK.The business accelerators have invested $18 million in 339 start-up companies that have created more than 1,000 jobs. They have also helped secure more than $101.2 million in additional capital for local companies.  Source: Mike Finney, executive director of Ann Arbor SPARK and David Egner, executive director for the New Economy InitiativeWriter: Jon Zemke