Second Annual Awards Ceremony Honoring Top Businesses in Advanced Manufacturing, Information Technology, Life Sciences and Venture Capital
Michigan Economic Development Corporation (MEDC) officials commended several organizations yesterday for their successful commercialization endeavors and venture capital investments at the Michigan Investment and Commercialization Success Celebration held at the Michigan State Capitol Rotunda.
Facundo del Valle Bravo, MEDC executive committee member, and MEDC President and CEO, Doug Rothwell, distributed awards in four areas of commercialization success including: advanced manufacturing, information technology, life sciences and venture capital.A total of 14 companies were recognized.
“The award winners serve as an example of successful transfer of technology to commercialization, said Bravo. “These successes will encourage further entrepreneurial endeavors related to advanced technology in Michigan.”
There were two recipients in the advanced manufacturing category, ERL, LLC of Lansing and Thermoanalytics, Inc. of Calumet.ERL, LLC is a spin-off from technology developed at Michigan State University.ERL has created a software program to assist in the interior design of automobiles. General Motors has chosen to deploy the software product on a company-wide basis.
Technology developed at Michigan Technological University, helped ThermoAnalytics develop a world-class computer engineering software tool that specializes in heat management.Their customers include Ford, GM, Chrysler and Tier I suppliers.
Arbor Networks, Inc. and Technology Integration Group Services (TIGS) were honored in the information technology category.Arbor Networks of Ann Arbor has developed software spun out of the University of Michigan providing innovative Internet services to their customers.They were named one of the “10 Start-Ups to Watch” in 2001 by Red Herring magazine.
TIGS of Rochester benefited from research done at Oakland University.The company provides services necessary for full automation including hardware, network planning and implementation, Internet e-commerce web sites, intelligent automation software and QS and ISO certification software.
Michigan commercialization successes in the life science industry show that Michigan is emerging as a major bio-state.There were four successful life sciences companies honored for their achievements: Asterand, Inc, GeneWorks, Inc., HandyLab, Inc. and Rubicon Genomics, Inc.
Asterand of Detroit has worked with Wayne State University to provide biological materials and information to assist in the development of therapeutic drugs and diagnostics.GeneWorks, also of Detroit, has used technology from Michigan State University to develop a process to manipulate chicken eggs to produce the active ingredients used in pharmaceuticals.
The University of Michigan has assisted HandyLab of Ann Arbor with developing a “micro laboratory” which allows physicians to obtain diagnostic information quickly at the point of care, enhancing the delivery of medical services. U of M also worked with Rubicon Genomics of Ann Arbor in the revolutionary field of personalized medicine allowing a patient’s genetic make-up to aid in the selection of specific drugs for treatment.
Venture capital plays a key role in boosting the growth of Michigan’s economy.A number of stakeholders from the industry were honored for their ongoing achievements and contributions to commercialization success in Michigan including:
- Arch Development Partners, Kalamazoo
- Dow Chemical Corporate Venture Capital, Midland
- Ford Venture Capital Group, Dearborn
- Michael B. Staebler, Pepper Hamilton, LLC, Detroit
- Ralph Wilson Equity Fund, Grosse Pointe Park
- X R Ventures, Grandville
“These awards are designed to encourage further partnerships between Michigan universities and businesses,” said Rothwell.“This type of collaboration is vital for launching new businesses from cutting edge technologies.”
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.