The Venture Accelerator at the University of Michigan's North Campus Research Complex is filling up fast. Three more start-ups have signed leases, bringing the incubator to 60-percent capacity.
"By the end of the year we will be at capacity," says Jim O'Connell, director of the University of Michigan Venture Accelerator. "Since it's an accelerator we won't have 100 percent usage. It will be at 85-90 percent capacity." He adds that a consistent rotation of growing start-ups receiving incubation services will keep the accelerator filled.
U-M opened the Venture Accelerator in the
North Campus Research Complex, formerly Pfizer's Ann Arbor campus, seven months ago with the idea of providing space, services and mentoring for start-ups commercializing university technology and research. Those start-ups include life sciences, clean-tech, software and other technology ventures with anywhere from 3-15 employees. When the accelerator is full it will provide space for up to 15 emerging companies.
Among the new start-ups are
Wolverine Energy Solutions and Technology (an alternative energy and defense firm),
Reveal Design Automation (a software start-up) and
Edington Associates (a consulting company).
"We have 4-5 other leases in the works that should put us at capacity by December," O'Connell says.
Source: Jim O'Connell, director of the University of Michigan Venture Accelerator University of MichiganWriter: Jon ZemkeRead more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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