Macomb-OU INC. and network partners to grow with $3M grant
The New Economy Initiative for Southeast Michigan, an innovative philanthropic effort to accelerate the transition of metro Detroit to an innovation-based economy, has announced a $3 million grant over three years to support the newly formed Business Accelerator Network for Southeast Michigan, a region-wide collaborative effort dedicated to attracting and retaining business in southeast Michigan. The Macomb-OU INCubator is among the four partner business accelerators to benefit.
Along with Ann Arbor SPARK, Automation Alley and TechTown, the Macomb-OU INCubator will work collaboratively to share best practices, host events focused on addressing issues and goals that impact southeast Michigan, support business plan development and leverage funding to grow business in the region.
Collectively, the accelerator network has invested in 339 start-up companies, invested more than $18 million, created more than 1,000 jobs and secured more than $101.2 million in additional capital for the companies.
“This award supports NEI’s focus on building strong networks that support the development of a more diverse, knowledge driven economy,” said David Egner, executive director of the New Economy Initiative. “An intensified level of collaboration among these outstanding business organizations will create a multiplier effect, reenergizing their existing initiatives and bringing about new and unparalleled cooperative ventures. It sends a powerful message to business leaders across the nation that southeast Michigan is working in a smart, integrated fashion to grow its business community.”
The Business Accelerator Network for Southeast Michigan will support business development in the region through a variety of innovative projects and programs, which will be announced over the coming months. They will also be identifying opportunities to attract new dollars to support important regional efforts.
"The Macomb-OU INCubator is very excited to join with the New Economy Initiative, the Kauffman Foundation, Automation Alley, Ann Arbor Spark and Tech Town in this alliance partnership to benefit entrepreneurs and investors in southeast Michigan,” said Dr. David Spencer, executive director of the Macomb-OU INCubator. “Through this cohesive effort, we hope to significantly improve new business innovation and job growth for the entire southeast Michigan region."
“We applaud the New Economy Initiative’s collaborative efforts to identify, incubate and accelerate Michigan businesses, ideas and entrepreneurs,” said Greg Main Michigan Economic Development Corporation president and CEO. “Their hard work on behalf of southeast Michigan’s most promising businesses will serve them well.”
The Macomb-OU INCubator will help share best practices, host events addressing issues and goals, support business plan development and leverage funding to grow businesses.
Created by David Groves (groves@oakland.edu) on Monday, June 21, 2010 Modified by Katherine Land - Deleted (land@oakland.edu) on Tuesday, June 22, 2010 Article Start Date: Monday, June 21, 2010
