U-M plans to launch start-ups with new Mich Venture Center

Wednesday, October 21, 2009 | Source: Concentrate

The University of Michigan has created a number of avenues to allow entrepreneurs to spin off university technology or enable students to chase after their start-up dreams. The newly formed Michigan Venture Center will serve as the hub for all of that activity.

"It's meant as a one-stop hub for people interested in working with us on University of Michigan start-up opportunities," says Ken Nisbet, executive director of the Office of Technology Transfer at the University of Michigan.

The Michigan Venture Center will allow entrepreneurs, investors and faculty inventors do everything from evolve their start-up to leveraging the university's bevy of inventions, innovations and patents. The main focus is to facilitate the creation of start-ups by helping them form business plans, assess potential for commercialization, attract investors and acquire gap financing.

The university has programs and staff to facilitate all of these angles. But bringing them all under one roof at the U-M Tech Transfer's Michigan Venture Center --1214 S. University Ave.-- is meant to help streamline the process. So far, the U-M Tech Transfer has been involved in the creation of 83 start-ups over the last nine years.

"We've had a lot of success at creating new companies," We're easily in the Top 10 of U.S. universities, maybe the Top 5," Nisbet says.

For more information on the Michigan Venture Center, send an email to techtransfer@umich.edu or call (734) 763-0614.

Source: Ken Nisbet, executive director of the Office of Technology Transfer at the University of Michigan
Writer: Jon Zemke