Ann Arbor

University of Michigan, General Motors celebrate partnership to create electric car batteries

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Education
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February 25, 2009

One of the worlds biggest universities is celebrating its relationship with one of the world’s largest corporations.Excerpt:The Chevrolet Volt, the plug-in electric vehicle that General Motors Corp. hopes will revive its sagging fortunes, will get a jolt from the University of Michigan.On Friday, GM executives and university engineers gathered on North Campus to celebrate a new partnership that includes the creation of a laboratory in Ann Arbor where U-M faculty and students will conduct research on advanced batteries. The batteries are seen as key to the success of the electric vehicle.Anticipated to open next month in space off Victors Way on the city's south side, the laboratory will be used to improve the durability and longevity of the lithium ion batteries. To meet consumers' expectations, the batteries will have to survive the daily stresses of driving and pounding from the elements, but they haven't been exhaustively tested, researchers say.Read the rest of the story here.

Arboretum rising on list of Midwest’s influential VC firms
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Economic Development
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February 25, 2009

Local venture capital firm Arboretum Ventures is becoming a bigger and bigger player in the U.S.Excerpt:Ann Arbor-based Arboretum Ventures is emerging as Michigan's leading venture capital firm during an economic crisis that threatens to cramp the state's efforts to build a vibrant VC industry.Arboretum has officially finished fundraising for its second fund. The firm, led by managing directors Jan Garfinkle and Tim Petersen, raised $73 million - more than three times the size of its $24 million first fund, which closed financing in 2005. They've got room to make another 10 investments or so in the next two-three years.For Garfinkle and Petersen, the new fund immediately places them near the top of the list of the Midwest's most influential venture capitalists. In the midst of the global economic crisis, venture capitalists have struggled to raise financing from even their most dependable institutional backers.Read the rest of the story here and more about local venture capital here.

Construction begins on Ann Arbor City Hall upgrade
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Community Development
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February 25, 2009

After an awful, awful lot of debate, construction has begun on the Ann Arbor City Hall expansion project.The $47 million expansion of the Guy C Larcom City Hall at the corner of East Huron and East Ann streets will add 102,000 square feet of space for the Ann Arbor Police Department and the 15th District Court. An official groundbreaking is set for April, but in the meantime workers are getting started so they can finish the mammoth project within the next 18-24 months. The building is more urban in design than the current Larcom City Hall structure and will aim for gold level LEED certification. The first phase of the project will build the 15th District Court and Police facilities on the west side of City Hall, which is currently a parking lot. The second phase will remodel the basement and first floors of City Hall. The second phase will begin once court and police department move into their new digs.Source: City of Ann ArborWriter: Jon Zemke

Ann Arbor’s NanoBio brings in $12 million in venture capital
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Economic Development
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February 25, 2009

NanoBio is attracting some big investment these days. The Ann Arbor-based firm just secured $12 million in new financing to help develop the company, bringing the total amount invested to $80 million.The 3-year-old firm, University of Michigan spin-off, employs about 20 people and a handful of interns. It has hired several ex-Pfizer people after the pharmaceutical giant closed the doors to its Ann Arbor campus in 2007. NanoBio is in the second phase of clinical trails for two of its drugs, which help treat herpes and nail fungus. The biopharmaceutical company expects to begin licensing them to major pharmaceutical companies in 2009. It's also developing products for vaccines that could be up for licensing as soon as late this year or next.Source: John Coffey, vice president of business development for NanoBioWriter: Jon Zemke

Developers push for demo with downtown Ann Arbor projects
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Community Development
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February 25, 2009

Decades old downtown building stock could soon be coming down in Ann Arbor.Two developers are advocating for the demolition of a handful of historic homes and old buildings. Razing them will make room for more dense housing in one project while the other will expand a surface parking lot.Morningside, the company behind Liberty Lofts, wants to level the old gas station at the corner of Liberty and Second streets. Two other single-family homes next to the old gas station would also come down. The demolitions would allow the developer to expand the adjacent surface parking lot for Liberty Lofts' retail space.The other project is the Madison, which is proposed to replace seven century-old homes on Madison across the street from Fingerle Lumber. These homes now serve as student rentals and are in poor condition.The developer, Jeff Helminski, originally wanted to build a 14-story high-rise with 161 rental units. Those plans have now been downsized to four stories and about 60 units. A public meeting on the project will be held at 6 p.m. Thursday in the Ann Arbor District Library's downtown branch, 343 S. Fifth Ave.Source: City of Ann ArborWriter: Jon Zemke

Detroit Renaissance Venture Capital Fund makes 2nd investment
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Economic Development
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February 25, 2009

Detroit Renaissance started the Renaissance Venture Capital Fund partly as a way of helping bridge the gap between Detroit and Ann Arbor. The fund is reaching out across borders again, making its second major investment out of state.The Detroit Renaissance Venture Capital Fund has invested $3 million the TGap Venture Capital Fund II, which is based in Kalamazoo. That's not long after Renaissance, which has offices in downtown Detroit and Ann Arbor, invested $5 million into in Ann Arbor-based Arboretum Venture Capital Fund.The TGap makes early stage investments into information technology, medical devices and services and specialty manufacturing companies. Jack Ahrens and Pete Farner formed the fund in 2002 and have since invested in several successful Midwestern-based companies, such as Afmedica (which was recently acquired by another firm) and Brill Street.The Renaissance VC Fund is a new venture capital fund-of-funds created by some of Michigan’s largest organizations late last year.Source: Chris Rizik, CEO of Renaissance Venture Capital FundWriter: Jon Zemke

Ann Arbor offers easy way to check development updates
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Development News
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February 25, 2009

Finding out what's going on in your neighborhood is never one-stop shopping, but finding out what's being built in your neighborhood in Ann Arbor is.The city has come up with a couple of interactive Internet features that allow residents to keep tabs on what's being built and bulldozed in their neighborhood. Click here and it will take you to the city's website where you can you can find what planning petitions, a.k.a. projects, are under review.These can be found on an interactive Google map, RSS feed or through email updates. However, the information on the projects is not details, like what can be found in city staff reports to City Council. The information listed will give users a general idea of what the developer is proposing.Source: City of Ann ArborWriter: Jon Zemke

Michigan Pre-Seed Capital Fund taps Ann Arbor’s Biotectix
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Economic Development
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February 25, 2009

Another Ann Arbor-based start-up is getting a small shot in the arm from the state of Michigan. This time the Michigan Pre-Seed Capital Fund is investing in Biotectix. The bio-tech firm worked with Ann Arbor SPARK to win the investment and already has received investment dollars from Allied Minds. Biotectix, a University of Michigan spin-off, works with biomedical device manufacturers to develop and implement customized materials that improve the safety, longevity, reliability, biological interaction, and energy-efficiency of their devices. The company hopes to take a piece of the $2 billion biomaterials and active coatings pie.The Michigan Pre-Seed Fund money will be used to expand its business development activities. It will also accelerate research in the cardiac, neural and cochlear markets.Source: Biotectix and Ann Arbor SPARKWriter: Jon Zemke

U-M plans to upgrade East Quad, lab space, utility tunnels
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Community Development
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February 25, 2009

The University of Michigan has OKed more upgrades for the school's campus, including millions of dollars in projects for the university's dorms, laboratories, hospital and utility tunnels.The university plans to spend $2.1 million renovating the 11,300-square-foot auditorium in East Quad. The venue, built in 1970, is used for for musical and theatrical petformances, and for poetry readings. The work will improve the facility's technology, lighting, stage, seats and architectural finishes. A vertical lift and second fire exit will also be added to make the auditorium compliant with the Americans with Disabilities Act and safety codes. Work is set to begin this fall.About $6.6 million will be spent fixing the university's tunnel system. Those tunnels house things like electric lines and water pipes. About 600 feet of tunnels and 125 feet of pipes will be replaces, starting this fall.Another $1.2 million will be spent modernizing the Environmental and Water Resources Engineering Building. Approximately 8,300 gross square feet of existing student laboratory will be reconfigured into three new research laboratories for faculty and students. Work is also set to start this fall.Not to be left out, the University of Michigan Hospital will receive $3.25 million in upgrades for its air-conditioning system. That project is slated to begin in the spring of 2010.Source: University of MichiganWriter: Jon Zemke

Small Company Innovation Program helps U-M reach out to small biz
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Education
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February 25, 2009

The University of Michigan is reaching out to small businesses to see if there is a way they can help each other through partnerships in the university's Small Company Innovation Program.The idea behind the pilot program is to let the university's College of Engineering work with local small businesses on research projects. It basically would open the university's faculty and student resources to these businesses. To make it financially feasible, the university will match $30,000 of support and waive indirect costs for five projects. This will support the work of a member of the university faculty and one graduate student research assistant. For information about the program, click here. Source: University of MichiganWriter: Jon Zemke

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