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  • And Then There Were 53

    More than 300 applications were received, but in the end, only 53 semi-finalists were chosen to battle it out for a chance to win more than $1 million in cash and in-kind awards in this year’s Accelerate Michigan Innovation Competition. 

    Accelerate Michigan is an international business plan competition designed to highlight the state as a robust and vibrant venue for innovation and business opportunity. Not only does the competition highlight Michigan as a destination for innovation, but it is also helps to accelerate the transition of our region to an innovation-based economy. 

    Led by the Business Accelerator Network for Southeast Michigan, The New Economy Initiative is pleased to have been founding sponsor of last year’s first annual competition and to continue as a lead sponsor along with Business Leaders for Michigan and the University Research Corridor institutions—Michigan Sate, University of Michigan and Wayne State University.

    The competition supports the message that Michigan is an ideal place to launch and grow a new business. Although the majority of this year’s companies are based in the state, that message is spreading. This year applications were received from around the country, as well as international companies from Canada, the United Kingdom, India and the Ukraine.  To be eligible for prize monies, companies must be located in Michigan or willing to relocate to the state. 

    This year’s semi-finalists are made up of companies throughout Michigan and three companies traveling in from Chicago, Fall River, Mass., and New Rochelle, N.Y., for the competition. With 13 of the 2010 semi-finalists returning – including last year’s sector prize winners Accio Energy, The Mackinac Technology Company and ENRG Power Systems – this year’s competition is going to be fierce. On Nov. 16-17, the semi-finalists will gather in Ann Arbor to deliver their business pitches to investors.

    Congratulations to all of the 53 semi-finalists and good luck in November.

    The semi-finalist companies include:

     

    Advanced materials
    Blue Water Bioproducts
    GreenSand
    InfiChem Polymers LLC
    InPore Technologies Inc.
    The Mackinac Technology Co.
    Vinci Technology Corp

    Advanced transportation
    Current Motor
    ECO-Fueling
    EcoVElectric
    ENRG Power Systems LLC
    ParkingCarma 

     

    Alternative energy
    Accio Energy
    Advanced Battery Concepts
    Arbor Wind
    Climate Technologies Co.
    Grid Logic
    Metro Ag Services
    NextCAT
    Spider9

    Medical devices
    Advanced Cooling Therapy
    Blaze Medical Devices
    OcuSciences
    Retia Medical
    Shoulder Innovations
    ULTrA

     

    Defense and homeland security
    Emitech Inc.
    H3D
    nanoRETE
    Visotek


    Next generation manufacturing
    ePack
    Fusion Coolant Systems
    North Coast Industrial Imaging
    SenSigma

    Information technology
    Are You Human
    GPX Software
    i3D Technologies Inc.
    Practical EHR Solutions
    TherapyCharts
    White Pines Systems

     

    Products and services
    Algal Scientific Corp.
    Applied Engineering Technologies
    ArtJen Conplexus
    FamilyMint
    Llaamasoft
    Nutriinfo

     


    Life science
    ApoLife
    BioPhotonic Solutions
    DeNovo Sciences
    NEXTGEN Metabolomics 
    ONL Therapeutics
    Phrixus Pharmaceuticals
    RetroSense Therapeutics
    Syzygy Biotech

     

     

     

    By: Donald Jones
    Donald Jones is senior consultant to the New Economy Initiative, responsible for helping the NEI team to build opportunities for entrepreneurs in the region.

     

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  • BOOM Town

    Entrepreneurship is not just for 20-somethings. In fact people 55 and older are engaged in more entrepreneurial activity than those aged 20-34. According to the U.S. Bureau of Labor Statistics, self-employed people 55 to 64 grew by 93,000 in 2009 and by 213,000 among people 65 and older. 

    Workers and retirees over the age of 50 are currently the fastest growing group seeking business and technology training here at Wayne State University’s TechTown.  

    To better accommodate and nurture this growing demographic, the Community Foundation for Southeast  Michigan brought us together with community partners Operation Able and the Luella Hannan Memorial Foundation to form BOOM! The New Economy back in January 2011.  This initiative provides adults 40 and older with training, resources, networking and volunteer opportunities to work with more than 250 start-up companies that are currently supported by our facilities and Wayne State University.  

    BOOM! The New Economy is creating a talent pool of Baby Boomer interns, mentors and entrepreneurs at TechTown who are redefining the meaning of retirement and re-entering the workforce. 

    “Through our work in economic development , we know how important it is to provide  training and employment  opportunities for people at every stage of life,” said Mariam Noland, President of the Community Foundation for Southeast Michigan.  “The  older workers in our region are a tremendous asset.  The programs we support at TechTown help them retool and move forward with a second career as entrepreneurs, or as employees in the regions many business start ups.” 

    The trend at TechTown of older entrepreneurs  reflects a broader national shift in the U.S. workforce. On September 15 through 16, Wayne State University will welcome three recognized experts to discuss this “new normal” emerging among workers over 50 in Detroit and cities across the globe.

    The 2011 Forum on Contemporary Issues in Society (FOCIS) will host the free daylong “Retirement in Transition:  Work, Relax or Reboot?” conference at Wayne State University’s Community Arts Auditorium in Detroit. A variety of speakers and panelist will be on-hand to discuss the changes facing the retiring American worker, the impact of this new reality on American society, and implications for colleges, non-profit organizations and businesses. 

    As the average age of southeast Michigan’s population steadily increases, Baby Boomers and older adults are vital to shaping and growing the future economy. Their professional and life experiences are helping drive their entrepreneurial success and, in the process, new jobs are being created for college graduates and young professionals. 

    To register for the September 15-16 FOCIS conference, please visit http://events.wayne.edu/rsvp/retirement-in-transition-work-relax-or-reboot-featuring-robert-reich.

     

    Author: TechTown
    Website: www.techtownwsu.org 

     


     

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  • Immigration and Michigan’s Economic Future

    July 18 was a transformational step for Global Detroit, southeast Michigan, and our state.  Nearly 500 business, nonprofit, ethnic, immigrant, media, philanthropic, and government leaders joined together at the New Michigan Media conference at Wayne State University on “Immigration and Michigan’s Economic Future.”  We were fortunate to hear from Michigan Governor Rick Snyder, New York Mayor Mike Bloomberg, Compuware’s Peter Karmanos, Detroit City Councilman Ken Cockrel, Jr. and others who all reiterated that, “Immigrants don’t take jobs.  They are job makers.”

    The conference was well covered in the national and local media, including print, radio, and television.  
    While there are many metrics of success to point to (and some areas upon which we can build), I want to draw your attention to one.  While there were many great columns that came after the conference (including Stephen Henderson’s column in the Detroit Free Press), the Detroit News, our state's largest conservative-leaning newspaper, not only editorialized about the contributions of immigrants (no surprise, as they have been doing this for some time) and the conference, but took the additional step of joining Governor Snyder and editorializing against legislative efforts, modeled upon Arizona laws, to make the state more unwelcoming.


    In short, last week’s conference puts Detroit and Michigan at the forefront of becoming the most welcoming city and state in America.  Global Detroit and Global Michigan (and the business and political support for them expressed at the conference) welcome the international community, welcome new immigrants, welcome new residents, welcome foreign directing investment, welcome entrepreneurship, welcome diversity, and welcome all the other strengths that the immigrant and international community bring to propel our region’s and state’s economic growth and job creation.

    The New Economy Initiative for Southeast Michigan’s leadership in providing seed funding for the Global Detroit study, as well as its continued operation, has been at the core of this growing movement.  July’s conference was a public unveiling of sorts of the findings of the study and the team being assembled to move our region forward.
     
    Steve Tobocman
    Global Detroit
    www.globaldetroit.com
    (313) 516-9681

     

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What is the New Economy Initiative?

Executive Director David O. Egner provides a brief overview of NEI's efforts to foster entrepreneurialism and employment in southeast Michigan.

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