©2018 Michigan Economic Development Corporation

Oakland County Commercialization and Investment Successes Celebrated

Friday, September 22, 2000

Kathleen McMahon
(517) 335-4590

Michigan Economic Development Corporation Honors Area Organizations Michigan Economic Development Corporation (MEDC) officials commended several Oakland County organizations recently for their successful commercialization of technology developed at Michigan universities and important venture capital investments at the Michigan Investment and Commercialization Success Celebration.At the ceremony, awards were distributed in four areas of commercialization success: venture capital, advanced manufacturing, life sciences and information technology.In each of the categories, one organization was recognized for its outstanding achievement in the field. Twenty-nine organizations from throughout the state were honored. Nine Oakland County organizations were honored in each of the four categories, including two local organizations recognized as outstanding achievers. “The Oakland County winners exemplify the benefits of transferring technology developed at our universities to successful commercialization efforts,” said Doug Rothwell, president and CEO of the Michigan Economic Development Corporation.“Commercialization success in these important industries is key to helping the state develop into a national leader in the technology-driven economy.”In the advanced manufacturing category, Precision Optical Manufacturing of Plymouth was singled out as the outstanding achiever.Based on technology developed at the University of Michigan, Precision Optical is a leader in direct metal deposition technology.Precision Optical is also an OEM machine builder, engineering service bureau and contract manufacturer of complex, three-dimensional metal parts using a unique direct metal fabrication process Thermal Wave Imaging, Inc. of Ferndale also was recognized in this category. The outstanding achiever in the life sciences category was Southfield-based Lumigen, Inc.Nominated by Wayne State University, this company is involved in the development of clinical diagnostics based on chemiluminescent markers.With 35 employees, $15 million in sales and more than 20 patents, Lumigen is on the road to success.The other Oakland County winner in this category was Oxford Biomedical Research in Oxford.Five other Oakland County companies were recognized for their successes in the information technology and venture capital categories.Clarity of Troy and ESI North America of Shelby Township were both recognized in the information technology category.In addition, the local venture capital firms recognized included Wind Point Partners of Southfield as well as the M Group and Sloan Ventures both based in Birmingham. “These award prove the Oakland County companies’ commercialization leadership.We hope their success will help to encourage further partnerships between Michigan universities and businesses,” Rothwell said.