Interleaved Magnetic lands microloan for loudspeaker development

Interleaved Magnetic Products isn’t a start-up building a better mousetrap, but a much more efficient loudspeaker. The downtown Ann Arbor-based company that calls Ann Arbor SPARK’s incubator home is developing technology that should make loudspeakers more energy efficient by a magnitude of 10. “The goal is to make the loudspeaker many times more efficient,” says Tom Heed, president of Interleaved Magnetic Products. “It’s maybe one-percent efficient now. We would like to get it up to 10-percent efficient.” Heed has made a career as an audio engineer, working for the likes of Harman before striking out on his own. He started Interleaved Magnetic Products in late 2011 and just led a team of four employees and a couple of independent contractors to score a Michigan Microloan Fund microloan, which is usually worth about $50,000. Interleaved Magnetic Products is currently prototyping its technology, using the microloan to buy parts for the newest version. Heed expects to have a Beta version ready by early next year and secure a round of seed funding not long after that. Source: Tom Heed, president of Interleaved Magnetic Products Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.