Detroit Innovate targets young technologies, university start-ups

A new seed-stage fund called Detroit Innovate, which intends to help launch technology companies in Southeast Michigan and invest in existing young companies, is scheduled to be announced today. The fund has received $5 million from the New Economy Initiative for Southeast Michigan and hopes to raise at least $10 million from other state foundations.

Update: Axonia closes on $2M in seed funding. Gap funds play a role (Ann Arbor SPARK, Western Michigan University RF, and others)

Axonia Medical, an early stage company pioneering a revolutionary approach to repair and restore damaged peripheral and central nervous systems, announced today that the company has closed on $2.0 million in seed financing. The financing was led by Southwest Michigan First Life Science Venture Fund and included participation from Ann Arbor SPARK and Western Michigan […]

Micro-loans SPARK 12 new Michigan companies

ANN ARBOR, Mich., April 10, 2012 /PRNewswire via COMTEX/ — Twelve Michigan companies have received a combined total of more than $444,000 through the Michigan Microloan Fund Program, bringing the total amount loaned through the Fund to more than $2.4 million. The companies received the funding to support commercialization of their core products.