The Business Accelerator Fund is a two-year, $3 million fund established through a grant agreement between the Michigan Strategic Fund and the Small Business and Technology Development Center (MI-SBTDC) at Grand Valley State University. The fund can be accessed by 13 business accelerators across the state, including Automation Alley and Kettering University TechWorks, to provide specialized business acceleration services to companies commercializing advanced technology.
“Business accelerators around the state can access funding through the Business Accelerator Fund to hire consultants, researchers, and engineering or manufacturing companies to provide specialized services to technology businesses they’ve identified as having potential to create significant impact in their region,” said Phil Tepley, the SBTDC’s director of technology commercialization services. “We expect these business accelerator engagements to initiate what will become long-term collaborative relationships between emerging technology companies and Michigan’s existing businesses and universities.”
Automation Alley recently awarded Sterilogy LLC, developer of a hand hygiene delivery and monitoring system, with a Business Accelerator Fund grant. Sterilogy plans to use the grant to retain Michigan-based companies to finalize development of the system for beta testing in area hospitals.�
“It an extreme honor to be the first company from Automation Alley to have received the Michigan Small Business & Technology Development Center Business Accelerator Fund grant,” said Hal Zaima, president of Sterilogy LLC, in a press release. “The grant will allow Sterilogy to use Michigan companies to help us complete the product development and move quickly into beta testing. Both Automation Alley and MI-SBTDC have been great mentors to help Sterilogy in every facet of our business. Michigan is fortunate to have such able and willing partners in business.”
For more information on the Business Accelerator Fund, visit http://misbtdc.org/technology-team/business-accelerator-fund/. To learn how Kettering University TechWorks can help start ups evaluate their eligibility contact Neil Sheridan, Director of KU TechWorks at (248) 840-3402.