Tuesday, June 29, 2004
Paul Krepps, MEDC
$24 Million Funding Available for Cutting-Edge Research and Commercialization
Governor Jennifer M. Granholm today announced that 22 applicants-from Michigan research universities to entrepreneurs with new companies and innovative ideas-have been selected to share in about $24 million in funding to spur the development of Michigan's Technology Tri-Corridor. The funding will advance basic and applied research in Michigan's growing life sciences industry, and support commercialization in the life sciences, homeland security and advanced automotive technology sectors that give the Tri-Corridor its name.
This year's awards are notable as being the first to include funding in all three categories.
"The Technology Tri-Corridor is advancing Michigan's economy by creating new job opportunities for Michigan workers," Granholm said. "The Steering Committee's selections represent the most promising scientific research and technology-based products-all being developed right here in Michigan."
SensiGen Corporation is this year's largest single award winner. The Ann Arbor early-stage company was awarded $2.6 million to develop a diagnostic test kit that will detect chronic kidney disease and the likelihood of future kidney failure.
Other winning proposals for Tri-Corridor funds include a revolutionary welding method for use in advanced vehicle production, technology that would advance the detection and therapy of certain tumors, and an innovative, rapid prototyping system for the tool and die industry. A complete list of winners is attached.
The Governor's announcement followed a meeting of the Tri-Corridor Steering Committee, which reviewed independent evaluations and funding recommendations made by the prestigious American Association for the Advancement of Science (AAAS). Professionals from the AAAS, the world's largest association of scientists and engineers, reviewed the original 131 proposals submitted and narrowed the field to 53. The finalists recently participated in a formal interview process which served as the basis for funding recommendations to the Tri-Corridor Steering Committee.
"The proposals approved today are characteristic of Michigan's entrepreneurial talent and technical savvy," said MEDC President and CEO Don Jakeway. "By nurturing research and commercialization through the Tech Tri-Corridor, Michigan will continue to set the pace of technological innovation for the global economy of the 21st century."
The Technology Tri-Corridor is administered by the Michigan Economic Development Corporation and built on the successful model of the Michigan Life Sciences Corridor. Between 2000 and 2004, the Life Sciences Corridor Fund and Technology Tri-Corridor Fund have allocated a total of more than $200 million through 118 awards.
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life.