Ann Arbor start-ups take vast majority of VC in Michigan

Wednesday, April 21, 2010 | Source: Detroit Free Press

The bad news is that venture capital investment is down in Michigan. The good news is there would only be one tenth of that sort of investment in the state without Ann Arbor's strong entrepreneurial community.

Excerpt:

Of the $20.5 million invested in Michigan, $11 million went to Ann Arbor-based HistoSonics, a University of Michigan spin-off company that's developing a medical device that uses ultrasound pulses to treat prostate disease.

Another Ann Arbor start-up, Sakti3, received $7 million. It's working on next-generation lithium-ion batteries.

Read the rest of the story here.