In The News

Venture capitalists say time is right for U.S.-Canada investments

By Newsroom

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May 20, 2009

Venture capitalists who recently gathered in Ypsilanti see now as a great time to cross the border with some cash.Excerpt:The timing is right for U.S.-Canada cross-border investment opportunities. That was the message of a panel discussion Wednesday morning at the 28th annual Michigan Growth Capital Symposium at Marriott at Eagle Crest in Ypsilanti. It was the second day of a conference on venture capital investing that drew about 450 participants. Attendees included about 65 VC firms and 32 young companies who made presentations in the search for equity investments. For the first time, the symposium devoted a panel devoted to cross-border opportunities, and it included a record six Canadian companies who made formal presentations to would-be investors. “Canada is a great breeding ground for U.S. investors to come north,” said Marc Faucher, partner of the Toronto-based BlackBerry Partners Fund, which focuses on companies in the mobile phone sector. “From a cross-border standpoint, we’re finding very good conditions for early-stage investments in telecom firms in Canada that we’ll bring down to the U.S. for deals as the companies mature.”Read the rest of the story here.

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EDF focuses on getting ‘capital efficient’

By Newsroom

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Economic Development

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May 13, 2009

Though EDF Ventures has been flying under the radar in Ann Arbor, it's not in danger of taking off any time soon. And that's a good thing.Excerpt:EDF Ventures, which helped spawn some of the Ann Arbor region's most successful tech companies, had been uncharacteristically quiet of late. The firm's silence has led some to quietly wonder whether EDF was poised to slowly exit Michigan's venture capital scene. But founder Mary Campbell isn't showing any signs of backing out.EDF's role in Plymouth Township-based drug discovery firm Lycera's recent $36 million financing deal served as a reminder that the venture firm is still a major player in the investment community.And Campbell said she expects to continue making investments despite the financial crisis, which has sapped funding for many investors."Our concept is to be even more capital efficient, which means we will invest more human capital to get down the path further in a more efficient way," Campbell told Business Review in an interview. "That will, if nothing else, allow us to buy time as the market evolves and be able to do more investments with the money under management."Read the rest of the story here.

Jimmy Fallon provides local news coverage for Ypsilanti

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Arts & Culture

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May 13, 2009

Maybe the Michigan film incentives work. Ypsilanti gets some downhome love (and a few laughs) from late night TV comedian Jimmy Fallon. He is in the cast of Whip It, the roller derby film which shot in Ypsi last summer. Watch the video here..

Ypsilanti airline flies cargo to Afghanistan

By Newsroom

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Economic Development

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May 13, 2009

Ypsilanti to Afghanistan? You better believe those flights are taking place.Excerpt:Ypsilanti -- Count Afghanistan as the newest international destination served directly by air from Metro Detroit. National Air Cargo, a subsidiary of Ypsilanti-based National Airlines, has started flying supplies for the U.S. military directly from Willow Run Airport in Van Buren Township to Bagram Air Base, the center of American operations in Afghanistan. The base is roughly 40 miles north of the capital of Kabul. "This is the fastest possible route from the United States to Afghanistan and no one else in the air cargo industry is currently providing such a service," Robert Schalger, a regional manager for National, said in a statement announcing the new service. Read the rest of the story here.

For a hearty Midwestern appetite, Ann Arbor

By Newsroom

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Health

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May 13, 2009

Ann Arbor is known for a lot of things. This time it's food.Excerpt:ANN ARBOR, Mich. -- The first time I heard that people lived in Orlando, I couldn't shake the idea: Where would such people sleep? The Magic Kingdom? There's a government? A mayor who doesn't wear a mouse head and pose for pictures?This is an occupied territory. Not a city.To that list, add Ann Arbor.If you've ever lived in this bucolic college town (population 114,000), gone to school here (at the University of Michigan), worked here (home to Domino's Pizza and Borders world headquarters) or dreamed of living here (Ann Arbor routinely lands on those Best Places To Live lists), you might take umbrage -- but never has a nice Midwestern town been so dominated by a delicatessen.Read the rest of the story here.

Bike to Work Week starts Monday

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Environment & Sustainability

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May 13, 2009

Just in time for the warm weather, a reminder that you should be nicer to both your body and the planet. Cut down green house gasses and brun calories in one fell swoop.Excerpt:Before work every day at City Hall, Assistant City Engineer Jeff Fordice fits in a full workout. The beauty is that he doesn't need to carve out extra time from his morning schedule or even go to the gym. For nearly a year, Fordice has been riding his bike to work, about 1.5 miles each way. He splits his route between sidewalks and roads and has found motorists to be fairly cooperative in sharing the roadways, though he does take extra care at intersections."People still aren't used to watching for bikes during their commute," he said.The mayor, City Council and a few groups around town are hoping to change that.By mayoral proclamation, next week in Saline is Bike to Work Week and May 15 is Bike to Work Day. Saline is joining communities throughout the country recognizing May as National Bike Month while two groups, Pick up the Pace Saline and an organization called Program to Educate All Cyclists, are planning a ride through the city at 6:30 p.m. Monday. The two-mile ride through town will depart from City Hall and PEAC will bring a trailer of bikes for people who would like to borrow one. Call 1-734-255-5930 to reserve a bike that will fit. Read the rest of the story here and Ypsilanti's Ride of Silence here.

University of Michigan poised to reap windfall of research dollars

By Newsroom

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Community Development

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May 13, 2009

The University of Michigan's coffers are about to become very happy Barack Obama was elected president.Excerpt:The confluence of economic forces surrounding the University of Michigan's research and technology commercialization efforts makes for a paradoxical set of circumstances. Some U-M researchers are experiencing trouble securing capital for their startup efforts. But at the same time, U-M is by all accounts poised to reap a windfall of research dollars directly connected to President Barack Obama's $787 billion economic stimulus package.Marvin Parnes, associate vice president of research for U-M, said administrative employees are working overtime processing all of U-M's funding requests."We are sending in enormous numbers of proposals for these funds," Parnes said.Read the rest of the story here.

Bike Ypsi kicks off season with spring ride

By Newsroom

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General

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May 6, 2009

Spring is the air and bikes are on the road in Ypsilanti.Excerpt:The veggie-dogs were on the grill by the time the bikers started coming back from their spring ride Sunday. It was another perfect sunny day for Bike Ypsi’s yearly event held at Recreation Park. More than 100 people came for the festival, which included a 33-mile ride, a 13-mile loop and a neighborhood ramble/scavenger hunt. "I had a lot of fun riding," 11 year-old Isabel Paul said. "Just riding my bike with my family is a lot of fun for me."Read the rest of the story here.

Nonprofit grows revenue and mission through social enterprises

By Newsroom

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Economic Development

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May 6, 2009

Now that Spring has spring Growing Hope is growing all sorts of green things in Ypsilanti.Excerpt:Growing Hope, the Ypsilanti nonprofit dedicated to bringing organic food and gardening to a larger audience, is finding that making money and pursuing its mission are not incompatible.Selling goods and services such as organic herbs or kits for building raised garden beds are accounting for an increasing portion of the group's budget, said executive director Amanda Edmonds."It's creating models of earned revenue or fee for service in ways that simultaneously serve our mission," she said. "It's different from selling T-shirts ... We're willing to play in the competitive marketplace, but we're more interested in getting people involved and making sure we're doing something complementary to our mission.""People want them like crazy," she said.Read the rest of the story here.

Dexter residents to circulate petitions for cityhood

By Newsroom

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General

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May 6, 2009

The city of Dexter? Some local residents think that has a nice ring to it.Excerpt:Joe Ciaravino was the first Dexter resident to pick up a cityhood petition packet Wednesday night at the Dexter District Library.A resident of the village since 1983, he vowed to get signatures in support of the Dexter's incorporation as a home rule city."We're held for ransom by Washtenaw County, Webster Township and Scio Township," Ciaravino said. "We don't have the say of where our money goes."Read the rest of the story here.