Wednesday, June 15, 2005
Michael Shore, MEDC
Competitive Process Results in 24 University and Private Sector Winners
"If we are to grow our economy, it is absolutely vital to tap the wealth of Michigan's research universities and enable entrepreneurs to convert research into products, companies and jobs," Granholm said. "Today's Tri-Corridor funding will lead directly to the creation of new, good-paying jobs in the months and years to come."
Two of this year's award recipients were approved for more than $2.5 million in funding each. An award of more than $2.7 million will lead to the development of a Center of Excellence for Simulation Research in Battle Creek. The new center, associated with Western Michigan University, will focus on medical simulation based on a model of new science used successfully in the airline industry. New hardware and software for the medical simulation industry are expected to be created based on research conducted at the center.
The complete list of this year's recipients 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. Professionals from the AAAS, the world's largest association of scientists and engineers, reviewed the original 111 qualifying applications submitted and narrowed the field to 51. Finalists participated in a formal interview process prior to the presentation of funding recommendations to the Tri-Corridor Steering Committee.
Granholm cited the Technology Tri-Corridor's success as the inspiration for her proposed $2 billion state bonding initiative for high-tech research and commercialization, the Jobs for Michigan Fund.
"Over the past five years the state has directly invested about $200 million in our life sciences industry, and more than 100 new life sciences companies have been created here as a result," she said. "This only hints at all that our universities and entrepreneurs can create here. The Tri-Corridor's success demonstrates the great potential the Jobs for Michigan Fund has for creating jobs in other high-tech, high-growth industries in the decade to come."
The Technology Tri-Corridor is administered by the Michigan Economic Development Corporation and built on the successful model of the Michigan Life Sciences Corridor.
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.