ANN ARBOR, Mich., Jan. 5, 2011 /PRNewswire/ — Several Michigan
companies recently received investments from the Michigan Pre-Seed
Capital Fund, pushing the total investments made through the Fund
to over $11.6 million. To date, 52 Michigan companies have
received seed funding from the Michigan Pre-Seed Capital Fund, a
collaborative effort of Michigan’s SmartZones.
“The Michigan Pre-Seed Capital Fund proves that innovation is
thriving throughout the state,” said Skip Simms, administrator of
the fund programs and interim CEO of Ann Arbor SPARK.
“Companies that received support from the Michigan Pre-Seed
Capital Fund are currently employing 285 people throughout the
state and have attracted outside investment. Matching support
from other funding sources totaled $16.4 million for these Michigan
companies.”
In 2010, Advanced Battery Concepts, Armune BioScience, Inc.,
Current Motor Company, Downstream, LLC, Intervention Insights,
Innovative Surgical Solutions, InfoReady Corporation, InPore
Technologies, Inventure Enterprises, NextCAT, Inc. and Tangent
Medical Technologies received $2.575 million from the Michigan
Pre-Seed Capital Fund. These companies will use the funding
to support commercialization efforts. Specific innovations
include:
- Advanced Battery Concepts, LLC, Lansing: Advanced Battery
Concepts is driving innovative technology, branded
GreenSeal™, into the large-format, battery industry enabling
smaller, lighter and longer life batteries. GreenSeal™
batteries are cost-effective for storage applications and have
lower impact on the environment than traditional large-format
batteries. - Armune BioScience, Inc., Kalamazoo: Armune BioScience was
formed to develop and commercialize high value, protein
signature-based diagnostic tests for prostate, lung and breast
cancers that will allow physicians and patients to make better
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