Thursday, December 12, 2002
Two Local Lansing Firms Honored for Innovation
Michigan Economic Development Corporation (MEDC) officials recently honored several organizations and individuals for their successful commercialization endeavors at the Michigan Investment and Commercialization Success Celebration.Two Lansing firms, KTM Industries and the Neogen Corporation, were among the 17 companies and individuals honored.
Michael Jandernoa, member of the MEDC Executive Committee and Doug Rothwell, MEDC president and CEO, distributed awards for excellence in commercialization in the fields of advanced manufacturing, information technology, life sciences, venture capital and angel investing.“These awards honor Michigan’s ingenuity and entrepreneurial spirit,” Rothwell said.“The fact that Lansing is home to two of the prestigious honorees proves that the city is a welcome and fertile environment for entrepreneurial endeavors.”
The award winners were chosen on the basis of innovation, success in the marketplace and their contributions to Michigan’s economy.
KTM Industries, honored in the advanced manufacturing category, is a spin-off from technology developed at Michigan State University.Founded in 1997, KTM has been successful in the development, manufacture and commercialization of biodegradable products derived from corn, rice, soy and potatoes.KTM’s main product, Magic Nuudles®, used in arts and crafts applications, has distribution in 10,000 U.S. locations.
Neogen Corporation was honored in the life sciences category.Formed in 1982, Neogen develops and markets products that improve the quality of food, agriculture, pharmacologic and environmental products.With five locations in the U.S. and one in China, Neogen has showed impressive growth.The company has been named one of the fastest growing publicly held businesses in America by Fortune Magazine.
Thus far, 52 companies and individuals have received honors for their contributions to Michigan’s entrepreneurial success at Michigan Investment and Commercialization Celebrations.This is the third year the ceremony has been held.
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.