U-M students turn Green Silane into award-winning start-up

Wednesday, March 17, 2010 | Source: Concentrate

The student entrepreneurs aren't building an empire with Green Silane. They're building an acquisition.

It's an idea that is commonly used in the advanced entrepreneurial ecosystems on the coasts, where entrepreneurs build their start-ups with the idea of hitting a big payday not from customers so much as competitors.

"In 5-6 years we would like to see the potential opportunity of acquisition by one of our competitors," says Matt Schaar, vice president of product development at Green Silane.

Schaar, an MBA student at the University of Michigan, and two other university students started Green Silane in September. Since then they have taken the Erb Award for Sustainability at U-M's Ross School of Business' Michigan Business Competition and third place at the Clean Energy Prize, which is sponsored by U-M and DTE Energy. It has led to the acquisition of more than $10,000, which serves as both prize and seed money.

Green Silane produces silane gas for customers on-site in a manner that is flexible, low-cost, and environmentally benign. "It compartmentalizes this so it only requires silicone and and hydrogen," Schaar says.

Source: Matt Schaar, vice president of product development at Green Saline
Writer: Jon Zemke