News

New Enterprise Forum Showcase Presenter in 2011, and won the "Best Business Model" prize for that year.  The University of Michigan spinout has seen great success, recently raising an $8m C Round of Financing.

Please click here for more details.

Backstage Capital decided on three of the cities ahead of time and held a public vote to determine the fourth. Based on the results, Backstage Capital has selected Detroit, Mich. for the accelerator’s fourth location.

Backstage Accelerator supports underrepresented founders in local programs around the world. Backstage Accelerator is a 3-month program designed to give founders the support they need to reach their next critical milestone. Founders will work with a team of experienced, passionate facilitators and will grow through mentorship, investment capital, and access to resources + networks.

On their website they write, “Detroit is the heart of the auto industry and the hometown of MoTown. It's a rising standout for entrepreneurs in the Midwest. Innovation and technology in the city are booming, and Detroit startups are attracting capital from Silicon Valley as well as local investors and government. Detroit is cost effective, with salaries and rent costs far below US coastal rates, and has a diverse talent pool sourced from 8 of the top 25 entrepreneurial colleges and 6 of the top 20 engineering schools in the US.”

Read TechCrunch Article for more information.  

Accelerate Michigan Innovation Competition announces 2018 semi-finalists. The Competition takes place on Thursday, November 13th at Lexus Velodrome, Detroit, MI. This premier pitch competition showcases the best and brightest startups in Michigan while highlighting the state as a powerhouse for business opportunity and next-generation innovation.

NEF coached teams have competed successfully for many years. This year also two teams in the semi-finals have received NEF coaching in the recent past during their entrepreneurial journey.

To learn more about the competition, visit https://www.acceleratemichigan.org/2018-semi-finalists/ . Also, see the announcement published in Crain’s Detroit Business.

We are happy to announce the addition of two new Stakeholder members: Office Evolution - Ann Arbor and Rehmann CPAs, Consultants and Advisors.

Office Evolution - Ann Arbor, a new business center located at 455 E. Eisenhower, Suite 300, Ann Arbor, Michigan 48108, will be celebrating the grand opening of the first Office Evolution location in Michigan on November 1st from 4 to 7 PM.  Please contact Andrea Hernadez-Morales, Business Center Manager or David Whitinger, Owner at 734-821-8085 for details about the event or to learn more about their office spaces, meeting rooms, shared workspaces or other services.  www.officeevolution.com/locations/ann-arbor

Rehmann, one of the largest CPA, Consulting and Advisory Firms with Offices in Michigan, Ohio and Florida, is rejoining our Stakeholder ranks.  In recent years the firm has been active in support of start-up entrepreneurial growth here in Michigan and membership in the New Enterprise Forum furthers those efforts. Chris Sing, Principal in the Ann Arbor office is the company’s NEF primary member and enjoys helping emerging companies through rapid stages of growth. www.rehmann.com

Entrepreneurs in Michigan have access to a wealth of resources to help them with their startups. NEF mentors and coaches share wealth of knowledge with the entrepreneurial community on our website at https://newenterpriseforum.org/Resources. We have recently updated the following in the resources section of the website.

  1. 10-Minute Investor Pitch
  2. Investor Pitch – Questions to Answer
  3. Entrepreneur's Bookshelf

Feel free to share these resources to help Michigan startups.

GAMIC – Shortening the path to commercialization in the auto / mobility industry

The 11th Annual Global Automotive and Mobility Innovation Challenge (GAMIC) is now open to innovators and their companies.   The entrants compete for over $350,000 in total prizes. But GAMIC's prizes are different. You can burn through cash quickly. GAMIC offers In-Kind, Professional services and contacts for the North American mobility space.

Commercialization time for start-ups in the automotive mobility space can take 2 to 3 times that of the start-ups in the Innovation / Consumer Electronics space.  We offer speed to market, putting winners in front of decision makers in large organizations who have a need for the types of products offered by our winners and a budget to explore those. Judged by automotive executives from OEMs and Tier 1 suppliers as well as seasoned contributors from the entrepreneurial community, GAMIC is a unique competition.

The GAMIC organizing committee is made up of auto industry executives with close ties to decision makers at all major OEMs and many Tier 1 suppliers as well as experienced entrepreneurs.  Building on such a rich network, GAMIC offers over $300,000 in auto industry professional guidance – from business development to IP support to PR, as well as assistance with key high-level industry connections.  These benefits are the invaluable key to accelerated commercialization by opening doors that the cash prizes by many other competitions simply cannot.

A number of GAMIC alumni are already in production as 2nd tier suppliers; others have licensed their technology to major Tier 1 suppliers, received development contracts from industrial partners, and/or received government funding for further product development.  All semi-finalists receive exposure to multiple Midwest-US and Canadian angel groups.

GAMIC is pleased to announce that it is open for applications for its 11th annual competition. 

Who should apply?  Companies that fit the following criteria:

  • Innovation space: Automotive and/or mobility applications
  • Innovation type: physical (mechanical, chemical, electrical), and/or digital product/systems, testing, manufacturing or other enabling innovations
  • : Less than $500,000 in funding or revenue to date
  • State of innovation advancement: Developed a proof-of-concept and/or a working model
  • State of business planning: Developed an initial business plan covering the technology and a go-to-market plan
  • : Willing to present in-person or via video conference at quarter-finals  in Northern California; Southeast Michigan; or Ontario, Canada

You can find more information on the applicable technology sectors for GAMIC and application instructions at our website at www.GAMICevent.org .  Applications due date is 15 October 2018.  Apply at www.f6s.com/gamic11th .

"DTX Launch Detroit is an intensive 10-week summer accelerator for college students and recent graduates aspiring to launch a technology startup." There were 11 teams with great ideas to change our world. The winners were: "GM Go Award" $10,000 went to Peerstachio helping students' grades by connecting underclassmen with trusted upperclassmen, getting them the academic help they need in a responsive way. "Get Set Award" $3,000 went to Moon Printers providing a novel 3D printing technology which allows 3D printing services to print more parts in less time, making them more profitable. "On Your Mark Award" $2000 went to Blue Jay Music delivering quality online music education, enabling students to learn at their own pace from world class instructors and U-Innovate LLC improving student scholastic performance by allowing them to ask questions during class without impeding the flow of the lecture. MVP - voted by her peers $500 went to Scarlett Ong Rui Chern - UMich. Career Experience Internships $2000 went to Christian Guillen of UMich, Meyer Gershater of WSU and Shanley Carlton of Arizona State U. The NEF coaches that helped the teams with their final presentations were: Vic Havele, Randy Kuckuck, Bill McPherson, Roger Morey, Anne Perigo, and Scott Taylor. To learn more about DTX Launch, visit them at https://techtowndetroit.org/services/dtx-launch-detroit

Roger Morey is the newest NEF Board member. Please join us in welcoming him. Roger is founder and CEO of Molecular Associates providing consulting services for biotech and business startups. He is currently Vice Chair and New Enterprise Forum coach helping entrepreneurs develop investable business presentations. Roger has most recently mentored at the Detroit Fintech Challenge and DTX Launch Detroit. He also volunteers at the Ann Arbor Arts Fair, and the Washtenaw County Science Olympiad.

He has over 20 years experience in laboratory management and molecular biology. He holds a clinical ASCP certification in molecular biology, and a B.S. in Biology from the University of Massachusetts at Boston.

The July NEF Pitch Pit was both interesting and entertaining. Three teams pitched their ideas to a panel of judges who had to make the difficult decision on which one would collect the $275 prize. Sergio Rodriguez, from ToDoolie, was declared the winner. ToDoolie provides an online platform for high school and college students to find work in their neighborhood. Also participating were: Adrian Lorenzi of TOTAGO providing a transportation-focused web and mobile app for outdoor recreation; and Efay Guo of SeeU providing an on-demand mobile app that allows users to join or create any activities in less than 20 seconds, meet people, and make friends within one hour. 

In a Detroit Crain's article on July 22, 2018, 12:18 AM, Tom Henderson reported that Jennifer Baird has a new venture in Fifth Eye Inc., which is a spinoff from the University of Michigan. Many remember Jennifer from the sale of Accuri Cytometers to Becton, Dickinson & Co. for $205 million back in 2011. In 2005, she presented at a NEF forum meeting. "Fifth Eye is developing software to warn medical professionals that certain patients who seem to be doing well after an operation are actually, based on almost imperceptible changes in their vital signs, at risk for serious deterioration in their conditions." Read More 

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