World takes notice of opening of U-M's Venture Accelerator

Wednesday, January 26, 2011 | Source: Bloomberg Businessweek

The University of Michigan's North Campus Research Complex was in the news last week, specifically its Venture Accelerator, and the world took heed. Check out what everyone from near and far is saying about the new start-up incubator.

Excerpt:

When drugmaker Pfizer Inc. announced four years ago it would close its massive research and development center in Ann Arbor -- the home of University of Michigan -- academic and government leaders were stunned at the punch in the economic gut.

Four years later, after an unlikely series of events during Michigan's long, painful recession, officials call the redevelopment of the 174-acre, 30-building North Campus Research Complex as a starting point for the state's economic recovery.

University leaders on Tuesday officially unveiled the Venture Accelerator, a business incubator for startup companies possessing promising technology bubbling up from the university's classrooms and laboratories. The incubator, which takes up a small part of the sprawling complex, has signed one company and hopes to have four more join within weeks to grow their business and commercialize their technology.

"We didn't quite know what to expect when this first happened," said university President Mary Sue Coleman. "Initially, we thought, 'Well, maybe another company will come in and snap up the property.'"

Read the rest of the Bloomberg Businessweek story here, and other coverage here, here, here, here and here.