In The News

Michigan venture capital report shows progress, need

Surprise, surprise, a new report from the Michigan Venture Capital Association says the state needs more venture capital, and a few other interesting things.Excerpt:Reports showing a large gap between the demand for venture capital in Michigan and the amount of money available represents both how far Michigan has come in the VC arena -- and how far it still needs to go.An annual report by the Michigan Venture Capital Association in Ann Arbor says efforts to transition Michigan's economy are at risk without an increase in venture capital in the state.Yet at the same time the report says Michigan has made great progress this decade through the creation of several homegrown VC funds. The amount of capital under management in Michigan is now at $1 billion, and all VC investments made in the state grew in 2008 by nearly 75 percent to $246 million.Capital available from out-of-state firms also has grown, with 10 now dedicating an investment professional to Michigan or operating an office here, double that of 2007.The varying perspectives within the same document stem from the relative infancy of the VC industry in Michigan."It's a great start. It's just not enough," MVCA Executive Director Leann Auer said. "We have come a long way, but we've got a long way to go."Read the rest of the story here.

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University of Michigan students ready solar car for its day in the sun

The latest version of the University of Michigan's famed solar car is getting ready to ride again. Excerpt:It's sleek, it's fast, and, yes, it's powered by the sun.University of Michigan students have high hopes for the latest solar car."To win the World Solar Challenge in October," said John Federspiel, who will be a senior in mechanical engineering in the fall and is the crew chief on the solar car project.The annual race across Australia, which draws college teams from across the globe, will be the first test of the car, dubbed Infinium.U-M has placed third three times, though it has won a similar race, the North American Solar Challenge, five times.Read the rest of the story here.

Ypsilanti downtown development districts to discuss merging

 little bit of in-city regionalism is taking place in Ypsilanti.Excerpt:The Ypsilanti Downtown Development Authority has a lot on its plate in the coming months as it works to find an interim DDA director, a person to fill a permanent position and considers the possibility of merging with the Depot Town DDA. A subcommittee was established at a special YDDA meeting Tuesday to establish options for an interim executive director as well as develop a framework for a possible permanent director position. John Coleman, Darryl Daniels, Mayor Paul Schreiber volunteered to be on the committee, which would work with MSU Extension Planner Teresa Gillotti and interns at the DDA office. Board Chair Peter Rinehart said he would like to have an interim director in place by the end of the month and a full-time director lined up in four months. However, he pointed out it took six months last time an executive director was hired. Read the rest of the story here and another story about the possibility of combining the city and township of Ypsilanti here.

Regional economic development organizations to leverage Michigan U’s in economic recovery

Biz incubators like Ann Arbor SPARK teaming up with major colleges like the University of Michigan could prove to be the economic engine that drives Michigan in the 21st Century.Excerpt:Relationships between regional economic development organizations and Michigan's top universities are poised to play an increasingly influential role in helping the state's economy recover from its devastating economic crisis. Central to Michigan's evolving economic development model is the tightening partnership between the University of Michigan and Ann Arbor SPARK.U-M Vice President for Research Stephen Forrest, SPARK's new chairman, said in an interview at the Mackinac Policy Conference that one of his top priorities is spreading SPARK's model across the state. He was elected chairman of SPARK after founder and possible Republican gubernatorial candidate Rick Snyder opted not to seek reelection.Forrest suggested that regional economic development organizations could drive economic activity throughout the state."We shouldn't be that concerned about it being in Ann Arbor," Forrest said. "It should be something that's good for the state and good for the region, because we're all in this together. Read the rest of the story here.

Chatting with … Jeff Daniels, Tony nominee
Fawns pop up in backyards around Washtenaw County

Bambis are popping up in backyards almost everywhere in Washtenaw County these days.Excerpt:Fawning season has arrived, and with it, the likelihood that well-meaning suburbanites will encounter a seemingly abandoned youngster curled up on a back lawn.But wildlife rehabilitators say odds are that Junior is just fine, and holed up in a safe spot until Mom returns from foraging. Fawns spend the first several weeks of their life huddled where they are born. They can't run quickly enough to evade predators, so the mother deer caches the newborn in a safe spot and stays away, so as not to attract potential trouble. And because fawns are well-camouflaged with spots and are virtually without scent during their first weeks, "a coyote would literally have to trip over it to find it," said licensed wildlife rehabilitator Karen O'Connor of Dexter, who is the only licensed deer rescuer in Washtenaw.Read the rest of the story here.

Mag-Lev train concept: Mass transit solution or idea that won’t get off the ground?

The (far off?) future of mass transit is being dreamed up in, of all places, Whitmore Lake.Excerpt:Picture a rail service in southeastern Michigan that runs along a track suspended above the freeway, traveling at speeds up to 200 mph.Imagine getting from Ann Arbor to Detroit in 10 minutes - and taking your car with you on the rail.And envision that service with on-demand cross-country travel that has personal suites with kitchens, as well as the ability to rent onboard space for commercial offices and private parties. Such a service also could have the ability to dispatch medical equipment and full teams to the scene of a car accident by rail.Those are the visions of a Whitmore Lake company pushing a proposal to build a rail system using magnetic levitation - or maglev. The technology would be faster, more environmentally friendly and cheaper than most other forms of transportation available in the U.S. today.Read the rest of the story here.

Washtenaw Dairy turns 75

Ann Arbor's landmark ice cream destination reached a major milestone last weekend. Superman cone anyone?Excerpt:On Saturday, May 30, from 10 a.m. to 2 p.m. the Washtenaw Dairy will throw a 75th birthday party for itself.Jim Smith, president of Washtenaw Dairy, didn’t send out any special invitations to people – everybody’s welcome to come enjoy the free hot dogs, 25-cent milkshakes, and entertainment from “Elvis Presley” and “Buddy Holly.” Not even Bill Martin – president of First Martin Corp. and athletic director of the University of Michigan – got a special invite.So when Martin dropped by the dairy on Thursday, and a tableful of morning regulars wanted to know if he was coming to the party, Smith wasn’t buying the “Nobody invited me” excuse that Martin was selling. “We don’t send out invitations!” admonished Smith. “Well, you didn’t call!” replied Martin. Martin wound up saying he’d try to attend, asking, “About what time are you guys going to be there?”Read the rest of the story here.

Economy challenges well known A2 street performer

Times are hard for everyone, including Ann Arbor's King of Pop.Excerpt:Since 1995, Brian Woolridge has been dancing in downtown Ann Arbor. But soon, he might pack up his boom box and bags of Michael Jackson CDs and leave the town and the state after 14 years of regularly performing his King-of-Pop moves here.Ann Arbor residents might know Woolridge as “the Michael Jackson guy.” He’s the one moonwalking in the alley on Liberty Street near the Michigan Theater on weekends. People strolling by wave to him as he spins and slides, Jackson’s vocals echoing against the alley’s graffiti-splashed walls and out onto the street.But his life isn’t all dance. Woolridge lost his job in September, and he says he hasn’t had much luck looking for work. He’s not sure about his plans for the future, but they may involve leaving Michigan.A soft-spoken man, he furrows his brow as he recalls his struggle to gain unemployment benefits. He said he had to go to a couple court hearings. “I had to fight for it,” Woolridge said.Read the rest of the story here.

Ann Arbor region poised to fill growing cybersecurity need

Could cybersecurity be the next new economy, job-growing industry in Ann Arbor?Excerpt:As Web-based attacks become increasingly identified as a national security issue, Michigan companies that offer cybersecurity solutions are poised to reap influxes of revenue.The Ann Arbor region in particular has been steadily assembling a portfolio of companies dedicated to providing network security products and services. Such technology is drawing national attention as the federal government has incurred a series of high-profile network security breaches in recent months.Executives from several local information technology security companies suggested they are positioned to capitalize on a growing focus on network security issues.Sean Heiney, who leads Barracuda Networks' expanding Ann Arbor operation on Depot Street, said the firm's Web filtering and analysis technology is already deployed with the U.S. Department of Homeland Security, Centers for Disease Control and National Aeronautics and Space Administration, for example.Critical to cybersecurity technologies is the ability to detect attacks after hackers have breached a network, Heiney said. "The historic emphasis has been placed on the perimeter of the network," he said. "But now it's commonly recognized that security is best done in defensive layers."Read the rest of the story here.

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