Three new businesses in the Ann Arbor/Ypsilanti area are about to get by with a little help from their new friend - Michigan Pre-Seed Capital Fund.

White Pine Systems, OcuSciences and RealKidz (all Ann Arbor SPARK-sponsored start-ups) received between $142,000 and $250,000 in seed money. Ann Arbor SPARK administers this money.

"We hope this acts as an incentive to bring an angel (investor) to the table to make an investment," says Skip Simms, administrator of the Michigan Pre-Seed Capital Fund.

Ann Arbor-based White Pine Systems will use its $225,000 to further its internet-based medical records service. That service securely stores and manages personal information, such as medical and legal records.

University of Michigan spin-off OcuSciences has $250,000 to develop its OcuMet line of ocular metabolic imaging products. The Ann Arbor-based firm’s products allow detection of several diseases through indicators in the eye, several years earlier than current clinical methods.

Ypsilanti-based RealKidz, an on-line retailer, plans to use its $142,000 to further its development of large size kids clothing and social network. RealKidz is a tenant of SPARK East business incubator.

The Michigan Pre-Seed Capital Fund, a collaborative effort of Michigan's 15 SmartZones, is an equity investment fund. It receives the same returns as a private third-party investor. Ann Arbor SPARK is one of these SmartZones. Thirty-four companies from across the state have received seed money from the fund since its inception.

Source: Skip Simms, administrator of the Michigan Pre-Seed Capital Fund
Writer: Jon Zemke