Wednesday, June 25, 2014
June 2014 Newsletter: Client Company Spotlight: "Stony Creek Labs: Macomb-OU INCubator Secures Funding to Accelerate Growth"
The Macomb-OU INCubator was recently awarded Business Accelerator Funds (BAF) to provide accelerator services to client company Stony Creek Labs LLC in the amount of $48,600. The Macomb-OU INCubator is one of the top business accelerators in garnering State of Michigan Business Accelerator Fund dollars to assist client companies.
Stony Creek Labs delivers advanced manufacturing technologies for industrial applications. The company is an affiliate of Grid Logic, a developer and manufacturer of superconducting components for electrical utility and defense applications. Stony Creek Labs develops advanced manufacturing technologies and will expand on capabilities originated at Grid Logic.
These BAF funds will enable Stony Creek Labs to complete the American Makes-National Center for Defense Manufacturing and Machining contract for 3D printing with protection of its intellectual property in hand.
Grid Logic is a recipient of the Michigan Defense Advanced Research Projects Agency (DARPA) Matching Funds Program (MD.MFP), for the development of Micro-Induction Sintering, a new method of using spatially compact high-frequency magnetic fields for sintering metallic powders, for defense applications.
These BAF awards are distributed by the Michigan Small Business Development Center (MI-SBDC) through Mac-OU INC to the various accelerator service providers. As these awards demonstrate, the Macomb-OU INCubator is successfully delivering specialized business acceleration services to companies commercializing advanced technology. The BAF 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.
MD.MFP is an initiative administered by the Macomb-OU INCubator through the Michigan Economic Development Corporation. The primary objective is to assist early-stage technologies along a path of commercialization while increasing the amount of federally-sponsored (DARPA) research and development funding that comes to Michigan.
The Macomb-Oakland University INCubator supports economic development in Southeast Michigan by accelerating high-tech businesses, cultivating academic innovation and encouraging research & development. To help small businesses grow, the incubator creates customized success strategies for startup and emerging companies in the niche industries of defense, homeland security, advanced manufacturing and technology. For more information, visit the incubator website at oakland.edu/macombouinc.
This project is supported by the 21st Century Jobs Trust Fund received through the Michigan Strategic Fund from the State of Michigan. The Michigan Economic Development Corporation (MEDC) is the state's marketing arm and lead advocate for business development, talent and jobs, tourism, film, and digital media incentives, arts and cultural grants, and overall economic growth. The MEDC offers a number of business assistance services and capital programs for business attraction and acceleration, entrepreneurship, strategic partnerships, talent enhancement, and urban and community development. For more information, visit michiganbusiness.org.