U-M student-led EXO Dynamics scores $15K in seed capital

Exo Dynamics just secured $15,000 in seed capital and plans to use it to move into a new home in University of Michigan's North Campus Research Complex. Exo Dynamics is leveraging the PhD work of a University of Michigan student to developing an electro-mechanical back brace for medical professionals. The back brace focuses on preventing injury and reducing pain without decreasing mobility. The team of five people is developing a second prototype and hopes to commercialize the device in early 2014. The 1-year-old start-up scored the $15,000 from the Michigan Business Challenge which is sponsored through the university's Ross School of Business. The company won the $10,000 Pryor-Hale Runner up award and the $5,000 Williamson Award for Outstanding Business & Engineering Team. "It was a fantastic experience," says Maren Bean, chief medical officer and co-founder of Exo Dynamics. "We got to meet a lot of great student entrepreneurs and some local entrepreneurs and investors. They gave us a lot of feedback on our business plan." Source: Maren Bean, chief medical officer and co-founder of Exo Dynamics Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.