Macomb Innovation Fund Awards $75,000 to Three Detroit-Area Technology Startups
March 16 2017 - 10:46AM
Business Wire
Since 2015, 27 companies have received a
total of $1.475 million
Three early-stage companies from Oakland, Washtenaw and Wayne
counties will receive $75,000 in funding from the Innovation Fund
Macomb Community College, Powered by JPMorgan Chase & Co. Since
July 2015, the Macomb Innovation Fund has awarded $1.475 million to
27 companies.
The Innovation Fund is a $2.7 million effort to stimulate
economic development and job growth among promising Detroit-area
entrepreneurs and next-stage companies with high-growth potential.
Funding is provided by Macomb Community College’s Strategic Fund
and JPMorgan Chase, as part of the company’s $100 million
commitment to Detroit’s economic recovery. The unique initiative
provides mentoring and capital to early-stage businesses, as well
as learning opportunities for Macomb Community College’s
students.
“In addition to enhancing southeast Michigan’s entrepreneurial
ecosphere, the Macomb Innovation Fund is providing unique
educational experiences to our students that extend classroom
learning,” said James Jacobs, president, Macomb Community
College. “More than 400 Macomb Community College students have
directly interacted with the emerging economic drivers of our
community, positioning them with distinctive learning
experience.”
Three companies will receive $25,000 awards, which are designed
to support early-stage businesses taking the initial steps in
market introduction.
- Alchemie Solutions (Troy/
Oakland County). Alchemie Solutions has developed a mobile learning
technology for higher education, combining game-based and
interactive video with machine learning. Designed for college
gateway courses in STEM (science, technology, engineering, math),
with chemistry the first subject area of focus, the interactive app
is tied to an analytic platform to help both students and their
instructors create a deeper understanding of a subjects core
concepts.
- iServe (Northville/ Wayne
County) –iServe has invented a soft serve dessert-making system for
the home. The system’s concept is like that of a Keurig coffee
maker, combining a soft-serve ice cream with single-serve
dispensing and pod technology. The ice cream is dispensed in under
10 seconds, and the machine requires no preparation or clean
up
- MySwimPro (Ann Arbor/ Washtenaw
County) – MySwimPro is a fitness application for swim training. The
mobile app features instructional video content, as well as
personalized training and tracking through a free subscription. The
premium subscription, which involves a monthly fee, unlocks advance
work content and analytics.
“Investing in entrepreneurial young people is great way to
create economic opportunity that spans beyond Main Street,” said
Chauncy Lennon, Head of Workforce Initiatives for JPMorgan Chase.
“JPMorgan’s approach to creating inclusive economic growth in
Detroit includes boosting the great ideas that are being born out
of the city’s neighborhoods and community colleges.”
The three companies awarded funding were selected from a field
of 25 qualified applicants. Each went through a two-stage process,
pitching first to a screening committee. The highest-rated
companies moved on to a selection committee comprised of area
professionals with experience in business management, finance, law,
manufacturing and technology, who make award recommendations.
To be eligible for the Innovation Fund, companies must locate
within a nine-county region consisting of Genesee, Livingston,
Macomb, Monroe, Oakland, Shiawassee, St. Clair, Washtenaw or Wayne
counties. Information about the application process is available at
www.macomb.edu/cie.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. is a leading global financial services
firm with assets of $2.5 trillion and operations worldwide. The
Firm is a leader in investment banking, financial services for
consumers and small businesses, commercial banking, financial
transaction processing, and asset management. A component of the
Dow Jones Industrial Average, JPMorgan Chase & Co. serves
millions of consumers in the United States and many of the world's
most prominent corporate, institutional and government clients
under its J.P. Morgan and Chase brands. Information about JPMorgan
Chase & Co. is available at www.jpmorganchase.com.
About Macomb Community College
Macomb Community College (www.macomb.edu) is one of the nation’s
leading community colleges, providing learning experiences to more
than 44,000 students annually. Macomb grants the largest number of
associate degrees in Michigan and nationally ranks in the top two
percent in the number of associate degrees awarded by community
colleges. The college’s comprehensive educational programming
includes pre-collegiate experiences, university transfer and career
preparation programs, bachelor-degree completion and graduate
degree programs, workforce training, professional education and
certification, and continuing education and enrichment
opportunities.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170316005859/en/
Jeanne Nicol586.445.7204 office248.459.9047
mobilenicolj@macomb.eduorStephanie Bosh202.585.1382
officeStephanie.a.bosh@jpmorgan.com
JP Morgan Chase (NYSE:JPM)
Historical Stock Chart
From Mar 2024 to Apr 2024
JP Morgan Chase (NYSE:JPM)
Historical Stock Chart
From Apr 2023 to Apr 2024