The Ann Arbor Chronicle » start-up businesses

A2: Silicon Valley?

Chronicle Staff — Mon, 18 Mar 2013 00:15:29 +0000

Detroit Free Press columnist Tom Walsh interviews venture capitalist Scott Chou about comparing Ann Arbor and Silicon Valley. Walsh reports that Chou, co-founder of Michigan eLab, spoke to University of Michigan business students about the attraction of this area: “Everything is cheaper here. It’s a source of disruptive innovations. It’s a core center for research innovations – one of the top-funded universities in the country. There’s a lot of groundbreaking ideas and few venture capitalists here.” [Source]

UM Regents OK 10 Conflict-of-Interest Items

Chronicle Staff — Thu, 15 Nov 2012 21:22:53 +0000

Ten items disclosed under the state’s conflict-of-interest statute were authorized by the University of Michigan board of regents at their Nov. 15, 2012 meeting. The law requires that regents vote on potential conflict-of-interest disclosures related to university staff, faculty or students.

The items often involve technology licensing agreements or leases. This month, all items were approved unanimously and without discussion. They related to the following businesses and organizations: ImBio LLC, BHJ Tech Inc., Newline Builders, Arborlight LLC, Arbor Ultrasound Technologies LLC, HiperNap LLC, Inmatech Inc., the Institute for Social and Environmental Research Nepal, PsiKick Inc., and Lycera Inc.

By way of example, the Lycera disclosure is required because four people who have an ownership stake in the company – Gary Glick, Anthony Opipari, James Ferrara and David Canter – are also employed by the university. [.pdf of Lycera disclosure] Lycera is developing treatments for autoimmune diseases, and plans to buy a company called JBL Pharma, which licenses technology from UM. As part of the purchase, Lycera will hold an exclusive license for that technology, in exchange for royalty payments on sales and the reimbursement of patent costs. In addition, the university has the option of investing up to $2.5 million in this business, as part of the Michigan Investment in New Technology Startups program (MINTS) that regents authorized in December of 2011.

This report was filed from the Anderson Room at the Michigan Union on UM’s central campus in Ann Arbor, where the regents held their November meeting.

UM Regents OK New Tech Start-up Program

Chronicle Staff — Thu, 15 Dec 2011 21:20:08 +0000

A new initiative – the Michigan Investment in New Technology Startups (MINTS) was approved by University of Michigan regents at their Dec. 15, 2011 board meeting. Plans for the initiative had been announced in early October by UM president Mary Sue Coleman in her annual address to campus.

In addition to approval for the overall program, regents also approved guidelines for MINTS. Managed by UM’s investment office as well as the office of technology transfer, the program involves investing in start-up companies formed using UM technology. It’s estimated that over 10 years, the program will invest about $25 million from the university’s long-term portfolio. According to a staff memo, the investments would be part of the portfolio’s venture capital sub-portfolio. A limit of up to $500,000 would be made in any single round of financing.

This brief was filed from the boardroom of the Fleming administration building on the UM campus in Ann Arbor. A more detailed report will follow: [link]