News
Entrepreneurs Benefit From Business Accelerator Fund
September 08, 2012
Five West Michigan companies assisted by MAREC together have received more than $123,000 in business development assistance with a variety of new product or early stage business development activities thanks to the Business Accelerator Fund (BAF) program.
With MAREC assistance, grant recipients applied for funds for a
variety of activities that illustrate the breadth of innovation coming
from emerging Michigan companies. For example:
Mackinac Technology Company develops and
commercializes energy-saving thermal insulation products. Mackinac
Tech is currently developing a transparent window coating insulation
system for retrofit applications, using its proprietary coating
technology that is expected to yield a 2-3 year payback period for the
product resulting from energy savings. The company received a grant
for technology and prototyping.
BioSolutions, LLC formulates, blends, packages, and distributes biodegradable cleaners and industrial coolants that help companies provide an environmentally safe and healthy workplace. BAF is providing legal development assistance with trademarks, labeling and other product work to strengthen their ability to fully commercialize their product line.
Dirt Works, LLC has developed an intuitive and
inexpensive on-board visual reference product and associated mounting
platform for the heavy equipment and construction industry. The
product is expected to compete with more costly laser and GPS
instruments that help machine operators determine the level and grade
angles of the terrain they are preparing. BAF funds will help produce
prototypes and production molds so the company can fulfill customer orders.
Sustainable Partners, LLC (SPART) has formed a
partnership with a German engineering company, enCO2, to develop an
anaerobic digester for Lowell Light & Power using enCO2’s patented
system to produce energy from bio-waste (manure, food waste, grease,
and wastewater sludge). SPART will develop bio waste-to-energy
projects in Michigan that provide low-cost, high-return energy
alternatives for utility, farm and municipal waste system
operators. With a BAF grant, SPART is developing legal documents, a
web site and accounting system to support their business development
needs.
MAREC has been designated as a resource organization that identifies and enables qualified Michigan companies in these sectors to pursue business development awards of up to $50,000 from BAF.
GeLo has developed a “geo-locator“ smart tag product that makes location-specific information available to smart phone users. The GeLo tags can be used in a variety of settings to provide specific information about their location. Applications of the technology may assist museums, parks, schools, retail, and other settings. BAF will support the manufacture of first-production GeLo tags to be installed at ten “beta site” locations.