For Immediate Release
Friday, Feb. 7, 2014
Macomb-OU INCubator awarded funding to accelerate client company growth
Sterling Heights, Mich. - Recent funding awards to assist client companies of the Macomb-OU INCubator totals nearly $78,000, via the Michigan Pre-Seed Microloan and the Business Accelerator Fund (BAF).
|Macomb-OU INCubator has been awarded nearly $78,000 to assist client companies
The Macomb-OU INCubator's BAF contracts will provide much needed accelerator services to Splash350 and Mobile Data Holdings (MDH) for $14,850 and $38,115, respectively. Coupon Wallet's Michigan Pre-Seed Microloan was awarded in the amount of $25,000.
This BAF will be distributed by the Michigan Small Business Development Center (MI-SBDC) through Mac-OU INC to various providers to assist in development of the Splash360 marketing plan and strategic development toward generating substantial and sustainable revenues while increasing valuation for the company. This will allow the company to raise capital at more attractive terms to accelerate growth even further.
Splash360's software platform allows customers to easily create, manage, customize and deliver brand-building marketing content within a single integrated solution. The key features include contact management, email marketing, print marketing, social media and lead acquisition.
The MDH BAF will assist with the development of the Mobile Digital Video Recorder system (MDVR), primarily test certification of the MDVR as it relates to electromagnetic interference so they can proceed to AT&T certification labs while production has already begun.
Established from the racing industry, MDH has created a patent portfolio for integrating what has become the "Black Box," well known in aviation for data collection and verification, but now possible within the seats of automobiles, trucks and buses. The MDH device is a Black Box technology that is both a real time Data Logger and MDVR.
As these Business Accelerator Fund awards demonstrate, the Macomb-OU INCubator is successfully delivering specialized business acceleration services to companies commercializing advanced technology. It is a 21st Century Jobs Fund Program managed by the MI-SBDC in partnership with the Michigan Economic Development Corporation and Michigan's network of business accelerators.
The Michigan Pre-Seed Micoloan will assist Coupon Wallet in proving its technology platform, acquiring initial customers, protecting its intellectual property and setting the stage for rapid growth while also attracting additional capital.
Coupon Wallet is a marketing platform that was founded in October 2012 as a technological solution for the transition from paper coupons to a digital alternative. Coupon Wallet is an end-to-end digital coupon platform that includes managed marketing services and point-of-sale integration for the businesses. Coupon Wallet's method of digital clearing allows businesses access to greater information about who is using their coupons and can draw marketing conclusions from this data to improve their ROI. Additionally, Coupon Wallet integrates with business loyalty programs and can deliver coupons to loyal customers.
"We are grateful for the state funding mechanisms that help our client companies make significant strides forward and look forward to seeing the positive impact that these companies will have on the economy," said Julie Gustafson, Mac-OU INC executive director.
The Macomb-OU INCubator provides comprehensive development and support to startup and emerging businesses with a focus on the defense, homeland security, advanced manufacturing and technology sectors. For more information, visit the incubator website at oakland.edu/macombouinc.
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