Michigan Pre-Seed Capital Fund Reports Investments Totaling $2.5 Million in 2010
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