The SmartEnergy Fund spins out of Ypsilanti's Clean Energy Coalition

Wednesday, March 2, 2011 | Source: Concentrate

When the Clean Energy Coalition received a $4.4 million federal grant last year, the general assumption was it would encourage more sustainability practices in Michigan. Now that money is helping launch small clean-tech businesses.

Meet The SmartEnergy Fund, a recent second place finisher for the Clean Energy Prize. The University of Michigan student-led firm got its start from a consulting agreement with the Clean Energy Coalition. Now it has $25,000 in seed capital from the Clean Energy Prize to pursue its innovative financing model to retrofit municipal buildings for energy efficiency savings.

"We want to maximize the impact of the grant dollars," says Graham Brown, project manager for The SmartEnergy Fund. "There is a limited pool of grant funds and how far we can stretch that money."

The Ypsilanti-based company is headed up by four U-M students who are splitting time between the university's Ross School of Business and School of Natural Resources, along with the Depot Town-based non-profit.

"There is a substantial need for building upgrades in Michigan cities," Brown says.

The SmartEnergy Fund entrepreneurs expect to be on the ground working with local municipalities within the next year.

Source: Graham Brown, project manager for The SmartEnergy Fund
Writer: Jon Zemke

Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.